India's Standard Glass Lining Technology gains in trading debut

Standard Engineering Technology

13/01/2025 09:42

** Shares of Standard Glass Lining Technology  SNDR.NS  rise
16% to 163 rupees in trading debut 
    ** Stock opened at 172 rupees, about 23% higher than its IPO
price of 140 rupees, before trimming some gains 
    ** At current levels, stock is valued at $376 mln vs target
valuation of $323 mln
    ** The IPO consisted of fresh issue worth up to 2.1 bln
rupees, and offer for sale worth up to 2 bln rupees; it was
subscribed 183 times
    ** Co says proceeds will be used to buy machinery and
equipment, repayment of debt and investment in unit
    

 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))