Glen Industries IPO opens today. Check GMP, price band and other details
ADVERTISEMENT The BSE SME-bound IPO has set its price band at Rs 92–97 per share, with investor interest picking up momentum as the grey market premium stands at Rs 25–26, or 26% over the upper price band.
Glen Industries manufactures eco-friendly packaging products such as compostable straws and thin-wall food containers, catering to HoReCa (Hotels, Restaurants, Cafés), dairy, and beverage industries.
The company exports to several regions including the US, Europe, Australia, and the Middle East, with an established base of 25+ global customers.The minimum application size for retail investors is 2,400 shares.The IPO will close on July 10. Allotment is expected on July 11, with refunds and demat credits scheduled for July 14. The company's shares are set to list on BSE SME on July 15.
ADVERTISEMENT Glen Industries plans to use the IPO proceeds primarily to set up a new manufacturing facility in West Bengal, with Rs 47.73 crore allocated for the project. The rest will go toward general corporate purposes.The company has posted strong financials, with FY25 PAT rising 113% to Rs 18.27 crore on a revenue of Rs 171.3 crore. Glen aims to achieve a revenue milestone of Rs 1,000 crore by 2030, backed by a total investment plan of Rs 100.22 crore.
ADVERTISEMENT "We are entering a strategic phase of growth and need to raise capital for our upcoming facility,' said Lalit Agrawal, Chairman and Managing Director of Glen Industries. "By balancing equity with debt, we've ensured minimal dilution while fuelling expansion."
Glen Industries has appointed GYR Capital Advisors as the book-running lead manager and KFin Technologies as the registrar.
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