The Telangana-based company's IPO is a combination of fresh issuance of shares worth Rs 250 crore and an Offer For Sale (OFS) of up to 1.84 crore equity shares by promoters and other selling shareholders, according to the Draft Red Herring Prospectus (DRHP).
Standard Glass Lining Technology Ltd, which manufactures specialised engineering equipment for pharmaceutical and chemical sectors, has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO).
Those selling shares in the OFS include -- S2 Engineering Services, Standard Holdings, Kandula Ramakrishna, Kandula Krishna Veni, Nageswara Rao Kandula, Katragadda Venkata Ramani and Venkata Siva Prasad Katragadda.
The story "Standard Glass Lining Tech files IPO papers with Sebi to raise funds" has 514 words across 21 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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