Hyderabad, December 31st, 2024: Standard Glass Lining Technology Limited is one of the top five specialized engineering equipment manufacturers for the pharmaceutical and chemical sectors in India, in terms of revenue in Fiscal 2024, it has fixed the price band of ₹133/- to ₹140/- per Equity Share of face value ₹10/- each for its maiden initial public offer.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Monday, January 6, 2024, for subscription and close on Wednesday, January 8, 2024. Investors can bid for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter.

The IPO is a mix of fresh issues of up to Rs 210 crore and an offer of sale of up to 1,42,89,367 equity shares by Promoter Selling and Promoter Group and Other Selling Shareholders.

The proceeds from its fresh issuance to the extent of Rs 10 crore will be utilized for funding of capital expenditure requirements of the Company towards the purchase of machinery and equipment; Rs 130 crore for repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and investment in its wholly owned Material Subsidiary, S2 Engineering Industry Private Limited, for repayment or prepayment, in full or in part, of all or a portion of certain Outstanding borrowings availed by S2 Engineering Industry Private Limited, from banks and financial institutions; Rs 30 crore for Investment in its wholly owned Material Subsidiary, S2 Engineering Industry Private Limited, for funding its capital expenditure requirements towards the purchase of machinery and equipment; Rs 20 crore for funding inorganic growth through strategic investments and/or acquisitions; and general corporate purposes.

Standard Glass Lining Technology’s capabilities include designing, engineering, manufacturing, assembly, installation, and commissioning solutions and establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis. Its portfolio comprises core equipment used in the manufacturing of pharmaceutical and chemical products, which can be categorized into: Reaction Systems; Storage, Separation, and Drying Systems; and Plant, Engineering, and Services (including other ancillary parts). It is also one of India’s top three manufacturers of glass-lined, stainless steel, and nickel alloy-based specialized engineering equipment, in terms of revenue in Fiscal 2024, according to an F&S Report. It is also one of the top three suppliers of polytetrafluoroethylene (“PTFE”) lined pipelines and fittings in India, in terms of revenue in Fiscal 2024. It has been the fastest-growing company in the industry, and it has operated during the past three completed fiscals in terms of revenue.

The company possesses in-house capabilities to manufacture all the core specialized engineering equipment required in the active pharmaceutical ingredient (“API”) and fine chemical products manufacturing process. Over the last decade, it has supplied over 11,000 products. Its marquee customer base includes 30 out of approximately 80 pharmaceutical and chemical companies in the NSE 500 index as of June 30, 2024. It operates through its eight manufacturing facilities spread across a built-up/floor area of over 400,000 sq. ft., strategically located in Hyderabad, Telangana, the “Pharma Hub” of India, which accounted for 40.00% of the total Indian bulk drug production in Fiscal 2024.

IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.

The Offer is being made through the book-building process, wherein not more than 50% of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional investors, and not less than 35% of the offer shall be available for allocation to retail individual bidders.