Kolkata-based Glen Industries Ltd. on Monday said it has fixed a price band at Rs 92-97 per share for its Rs 63.02 crore initial share sale that will open for public subscription on July 8.
The Initial Public Offering (IPO) will conclude on July 10, and the company's shares will be listed on the SME platform of BSE, Glen Industries said in a statement.
The public issue is entirely a fresh issue of up to 64.97 lakh equity shares.
Proceeds from the issue will be utilised to set up a new manufacturing facility at Purba Bardhaman, West Bengal and for general corporate purposes.
Incorporated in 2007, Glen Industries is engaged in the manufacturing of eco-friendly food packaging and service products.
The company specialises in producing thin-wall food containers and compostable straws, serving sectors such as hotels, restaurants, cafes/catering or HoReCa, beverage, and the food packaging industry.
It exports its products to Europe, the USA, Australia, the Middle East, and Africa.
Glen Industries reported a revenue of Rs 170.66 crore and profit after tax of Rs 18.27 crore in FY25.
GYR Capital Advisors is the sole book-running lead manager, and Kfin Technologies is the registrar for the IPO.
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