GLEN Industries IPO Opens Today: Offer Size, Price Band, GMP And Other Key Details

GLEN Industries Ltd. is scheduled to launch its initial public offering on Tuesday.

The company specialises in producing eco-friendly food packaging and service-related products. GLEN Industries plans to raise Rs 63 crore from the primary market through its SME IPO.

Below are the key details for investors interested in subscribing for the BSE SME issue.  

GLEN Industries IPO is a book-building issue worth Rs 63.02 crore. The IPO comprises only a fresh issue of 64.97 lakh equity shares, with no offer-for-sale component.

Out of the 64.97 lakh equity shares, GLEN Industries has reserved 30.04 lakh shares for Qualified Institutional Buyers. Similarly, 9.06 lakh shares have been set aside for Non-Institutional Investors. Retail investors have been allocated 21.07 lakh shares. The market maker portion of the IPO comprises 3.25 lakh shares. The company has allocated 1.53 lakh shares to employees.

The price band for the GLEN Industries IPO has been set at Rs 92 to Rs 97 per share. The IPO lot size has been fixed at 1,200 shares. Retail investors can apply for at least two lots of 2,400 equity shares in the GLEN Industries IPO, amounting to Rs 2,32,800. The minimum application size for high-net-worth individuals is at least three lots, aggregating to Rs 3,49,200. Employees, meanwhile, can apply for a minimum of 2,400 shares, requiring an investment of Rs 2,32,800.

The subscription window for the GLEN Industries IPO will remain open till July 10. The IPO allotment status is expected to be finalised on Friday, July 11. The company is expected to initiate refunds and transfer of shares to the demat accounts on July 14.

Shares of GLEN Industries Ltd. are tentatively scheduled to be listed on the BSE SME platform on July 15.

GYR Capital Advisors Pvt. is the book-running lead manager for the GLEN Industries IPO, with Kfin Technologies Ltd. serving as the registrar for the issue. Giriraj Stock Broking Pvt. has been appointed as the market maker for the IPO.

According to InvestorGain, the grey market premium for the GLEN Industries IPO stood at Rs 25 apiece at 8:30 a.m on Tuesday. The latest GMP indicated an estimated listing price of Rs 122 apiece, suggesting a premium of 25.77% over the upper band of the issue price.

Note: GMP is not an official source of data and is based on speculation.

GLEN Industries Ltd. plans to utilise the net proceeds from its initial public offering to fund the establishment of a new manufacturing facility in Purba Bardhaman, West Bengal. A portion of the funds will also be allocated toward general corporate purposes.

Glen Industries Ltd., established in 2007, manufactures eco-friendly packaging products such as thin-wall food containers and compostable straws. It caters to sectors such as hotels, restaurants, beverages and food packaging industries. The company has set up a 90,000 sq ft facility in the Howrah district of West Bengal, with advanced machinery and skilled personnel. Glen Industries Ltd. exports its products to Europe, the US, Australia, the Middle East and Africa.

GLEN Industries Ltd. reported an 18% year-on-year rise in revenue to Rs 171.28 crore in FY25 from Rs 145.22 crore in the previous financial year. The company’s profit after tax more than doubled to Rs 18.27 crore in FY25, compared to Rs 8.58 crore in FY24.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.