Standard Glass Lining IPO allotment status: Check application, latest GMP & listing date

Standard Glass Lining Technology is likely to finalize the basis of allotment of its shares on Thursday, January 09. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either on Friday or latest by weekend. The  engineering equipment maker received a bumper response from the investors.

The IPO of Hyderabad-based Standard Glass Lining Technology was open for bidding between January 06 and January 08. It had offered its shares in the price band of Rs 133-140 per share with a lot size of 107 shares. The company raised a total of Rs 410.05 crore via IPO, which included a fresh share sale of Rs 210 crore and offer-for-sale (OFS) of up to Rs 200.05 crore.

The issue was overall subscribed a whopping 183.18 times, attracting bids for Rs 53,419.19 crore. The allocation for the qualified institutional bidders (QIBs) was subscribed 331.60 times The portion for non-institutional investors (NIIs) was subscribed 268.50 times. Allocation for retail investors was booked 64.99 times during the three-day bidding process.

The grey market premium (GMP) of Standard Glass Lining Technology has remained firm following a bumper bidding for the issue, despite the market volatility. Last heard, the company was commanding a premium of Rs 91 in the unofficial market, suggesting a listing gains of around 65 per cent for the investors. The GMP stood at Rs 93-96 on the first day of the bidding.

Incorporated in September 2012, Standard Glass Lining Technology is a manufacturer of engineering equipment for the pharmaceutical and chemical sectors in India. It provides turnkey solutions, including design, engineering, manufacturing, assembly, installation, and standard operating procedures for pharmaceutical and chemical manufacturers.

IIFL Securities and Motilal Oswal Investment Advisors are the book running lead managers of the Standard Glass Lining IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with January 13, Monday as the tentative date of listing. 

Investors, who had bid for the issue of Standard Glass Lining Technology, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Standard Glass Lining Technology Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.