HYDERABAD: Specialised engineering equipment manufacturer Standard Glass Lining Technology Limited, which makes equipment for pharmaceutical and chemical industries, has secured Rs 40 crore through pre-IPO funding via a private placement from Amansa Investments Limited.
The Hyderabad-based company said it has issued 28,57,142 equity shares to Amansa Investments at a price of Rs 140 per share, including a premium of Rs 130 per share, and the transaction represents 1.55% of its pre-offer share capital.
The company had filed the draft red herring prospectus (DRHP) for its initial public offering (IPO) with capital markets regulator Sebi in July 2024.
The proposed IPO comprises a fresh issue of shares up to Rs 250 crore and an offer for sale (OFS) of around 1.84 crore shares by promoters and other selling shareholders. The company received Sebi’s final observation for the IPO in October 2024.
The company, which has eight manufacturing facilities covering over 4 lakh sq ft footprint in Telangana, offers design, engineering, manufacturing, assembly, installation, and commissioning, as well as establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis.
It caters to players such as Aurobindo Pharma Limited, Cadila Pharmaceutical 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.
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