Standard Glass stands tall

Standard Glass has made a cracking debut on the bourses; as against the IPO price of Rs.140, it got listed at Rs.176 and rose to an intraday high at Rs.181.70.

Overall the issue met with a great response, subscribing 182.55x, wherein HNI portion was subscribed 267.98 times, QIBs at 331.6x and Retail Investors at 673.96x.

Standard Glass Lining Technology is a Hyderabad based manufacturer of specialized equipments, such as reaction systems, storage, separation and drying systems and provides plant engineering and utility services. Company’s equipments are glass-lined, stainless steel and nickel alloy based, and supplied to pharma, chemicals, food and beverage sectors, with pharma comprising 80% of revenue.

In our IPO Analysis, we had concluded - While historic growth of 17% is not extraordinary, high margins and global tie-ups makes the company promising. Hence, we recommend ‘applying’ in the IPO.