Hyderabad-based Standard Glass Lining Technology, which makes specialized engineering equipment for the pharmaceutical and chemical industries, has raised Rs 40 crore in pre-IPO funding through private placement from Amansa Investments. As per the company’s public announcement dated December 17, 2024, it issued 28,57,142 equity shares to Amansa Investments in consultation with lead bankers at a price of Rs 140 per share (including a premium of Rs 130). The transaction amounting to Rs 40 crore is 1.55% of the pre-offer share capital of the company.
As per the DRHP filed in July 2024, the public issue with a face value of Rs 10 per equity share comprises a fresh issue of shares aggregating up to Rs 250 crore and an offer for sale of up to 18,444,000 equity shares by promoters and other selling shareholders. In October 2024, the company received SEBI’s final observation for the IPO.
IIFL Securities Limited and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and KFin Technologies Limited is the registrar to the issue.
Standard Glass Lining Technology offers comprehensive solutions that include design, engineering, manufacturing, assembly, installation, commissioning and establishment of 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, classified into reaction systems, storage, separation and drying systems, and plant engineering and services.
As of March 31, 2024, the portfolio comprised over 65 products and offerings. Over the past decade, it has delivered over 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 clients include 30 of the approximately 80 pharmaceutical and chemical companies in the NSE 500 index. Some of their pharma clients include Aurobindo Pharma Limited, Cadila Pharmaceuticals Limited, Deccan Fine Chemicals (India) Private Limited, Laurus Labs Limited, Granules India Limited, Macleods Pharmaceuticals Limited, Natco Pharma Limited, Piramal Pharma Limited, Suven Pharmaceuticals Limited, and Tagros Chemicals India Private Limited.
Standard Glass Lining Technology operates eight manufacturing facilities spanning over 400,000 square feet, located in Hyderabad, known as the “pharma hub” of India. The region accounted for 40% of India’s total bulk drug production in FY24 (Source: F&S Report).
