BSE SME Glen Industries' market entry whets investor appetite
The scrip was listed at Rs 157, a premium of 61.86% compared with the initial public offer (IPO) price. The stock is currently up 1.97% over its listing price.
The counter hit a high of Rs 164.85 and a low of Rs 149.50. About 31.91 lakh shares of the company changed hands at the counter.
Glen Industries' IPO was subscribed 242.32 times. The issue opened for bidding on 8 July 2025 and it closed on 10 July 2025. The price band of the IPO was set at Rs 92 to Rs 97 per share.
The IPO comprised fresh issue of 64,96,800 equity shares. The company intends to utilize the net proceeds for setting up a new manufacturing facility at Purba Bardhaman, PS Jamalpur, West Bengal and general corporate purposes.
Ahead of the Glen Industries on 7 July 2025, raised Rs 17.46 crore from anchor investors. The board has allotted 18 lakh shares at Rs 97 per share to 12 anchor investors.
Glen Industries is engaged in the manufacturing of a diverse range of food packaging and service products, primarily thin-wall food containers, polylactic acid (PLA) straws, and paper straws. These products are mainly supplied to the hotel, restaurant, and cafcatering (HoReCa) sector, the beverage industry, and the food packaging industry. The companys extensive product lineup, available in various shapes and sizes, is widely favored by sectors such as the HoReCa industry, quick service restaurants (QSR), and the food, beverage, and dairy industries. As of 31 May 2025, the company had 306 permanent employees.
The company recorded revenue from operations of Rs 170.66 crore and net profit of Rs 18.27 crore for the period ended 31 March 2025.
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