The Standard Glass Lining Technology Limited IPO opened for subscription today, marking a promising start in the Indian primary market. Investors can bid for shares in this pharma engineering equipment manufacturer until 5:00 pm on January 8,

Non-institutional investors (NIIs) led the demand, subscribing 8.5 times, followed by retail investors at 7.2 times. Qualified institutional buyers (QIBs) had bid for 21,293 shares out of the 5,790,147 shares reserved for them.

Fabtech Technologies Cleanrooms Ltd. reported a revenue of Rs 62.22 crore and a net profit of Rs 5.4 crore for the period ended Sept. 30, 2024. In FY24, its revenue declined by 22% to Rs 98 crore from Rs 125.10 crore in FY23. The net profit during this period decreased 27% year-on-year to Rs 5.78 crore from Rs 7.96 crore.

The ₹1,250 crore issue includes a fresh equity offering of up to ₹210 crore and an offer for sale of up to 1.42 crore shares, with bidding open until January 8. The issue has been subscribed 4.34 times so far.

Standard Glass Lining Technology's IPO was oversubscribed within an hour of opening, driven by strong retail and non-institutional investor interest. The company plans to use proceeds for capital expenditure,

Standard Glass Lining IPO offers shares to retail, QIBs, and HNIs, with proceeds for expansion and debt repayment.