Standard Glass Lining Technology offers standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis
Standard Glass Lining Technology, a manufacturer of specialised engineering equipment for the pharmaceutical and chemical industries, has secured Rs 40 crore through pre-IPO funding via private placement from Amansa Investments.
As per the company’s public announcement, it issued 28,57,142 equity shares to Amansa Investments for Rs 140 per share (including a premium of Rs 130), in consultation with the lead bankers. This transaction, amounting to Rs 40 crore, represents 1.55 per cent of the company’s pre-offer share capital.
According to the DRHP filed in July 2024, the public issue with a face value of Rs 10 per equity share is a mix of fresh issue of shares up to Rs 250 crore and an offer for sale up to 18,444,000 equity shares Promoters and Other Selling Shareholders. In October 2024, the company received Sebi’s final observation for the IPO.
Standard Glass Lining Technology offers comprehensive solutions that encompass design, engineering, manufacturing, assembly, installation, and commissioning, as well as establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis.
Its product portfolio includes essential equipment used in the production of pharmaceutical and chemical products, categorized into Reaction Systems; Storage, Separation and Drying Systems; and Plant, Engineering and Services. As of March 31, 2024, the portfolio consisted of more than 65 products and offerings. Over the last decade, it has delivered more than 11,000 products.
The company has 443 customers, including end-users in the pharmaceutical, chemical, paint, biotechnology, and food and beverage sectors. As of June 30, 2024, their notable customers include 30 out of approximately 80 pharmaceutical and chemical companies in the NSE 500 index.
Some of its pharma clients include the likes of Aurobindo Pharma Limited, Cadila Pharmaceutical, Deccan Fine Chemicals (India), Laurus Labs, Granules India, Macleods Pharmaceuticals, Natco Pharma, Piramal Pharma, Suven Pharmaceuticals and Tagros Chemicals India.
Standard Glass Lining Technology operates eight manufacturing facilities, covering over 400,000 square feet, strategically located in Hyderabad, Telangana.
IIFL Securities and Motilal Oswal Investment Advisors are the book-running lead managers, and KFin Technologies is the registrar of the issue.
