How To Check Standard Glass Lining IPO Allotment Status Online — Details Here

Standard Glass Lining Technology Ltd. is expected to finalise the allotment of shares of its initial public offering on Jan. 9, following a strong subscription. The Rs 410.05-crore mainboard issue was booked over 183.18 times as investors placed bids for 3,81,56,56,808 shares in comparison to 2,08,29,567 shares on offer.

Qualified institutional buyers led the demand for Standard Glass Lining IPO, placing bids for over 331.60 times the shares allotted to them. QIBs applied for 1,91,99,91,629 shares against 57,90,147 shares on offer.

Non-institutional investors bid their allocation more than 268.50 times with bids for 1,21,14,47,259 shares against 45,11,826 shares offered to them.

Retail investors applied for 68,42,17,920 shares in comparison to 1,05,27,594 shares available, resulting in an oversubscription of 64.99 times.

A book-built issue, Standard Glass Lining IPO consisted of a fresh issue of 1.50 crore shares worth Rs 210 crore and an offer for sale of 1.43 crore shares totalling Rs 200.05 crore. The IPO price band was set in the range of Rs 133 to Rs 140 per share.

With such a strong subscription, the allotment of shares in Standard Glass Lining Technology IPO is expected to be highly competitive. Those who bid in this mainboard IPO can check the allotment status online on the websites of the BSE, NSE and the issue's registrar, Kfin Technologies Ltd.

•  Visit the BSE IPO allotment page here.

•  Select 'Equity' as the issue type.

• Choose 'Standard Glass Lining Technologies Limited' from the dropdown menu.

•  Enter your application number or PAN.

• Click ‘Search’ to view your status.

• Log on to the official website of Kfin Technologies here

• Select any one of the five server links displayed on the screen

• Select Standard Glass Lining Technologies Limited from the list of companies

• Enter your Application Number, Demat account number or PAN

• Enter details based on your selection

• Clear Captcha to proceed

• Click Submit to check the allotment status

Investors may check the allotment status in Standard Glass Lining Technology IPO by logging in to their account on the NSE portal or by creating a new registration.

Standard Glass Lining Technology Ltd. is expected to list on the BSE and NSE on Jan. 13.

Standard Glass Lining Technology Ltd. plans to use the net proceeds from the issue to settle debt and support inorganic growth initiatives. The funds will also be allocated for capital expenditures to purchase machinery and equipment, as well as for investment in its wholly owned subsidiary, S2 Engineering Industry Pvt. The remaining funds will be used for general corporate purposes.

Standard Glass Lining Technology Ltd. specializes in manufacturing engineering equipment for the pharmaceutical and chemical sectors. Founded in 2012, the company also offers turnkey solutions, including design, engineering, manufacturing, assembly, installation, and standard operation services.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.