Latest news with #LalitAgrawal
Mint
4 days ago
- Business
- Mint
GLEN Industries IPO subscribed 1.51 times on day 1 so far; check GMP, subscription status, more.
GLEN Industries IPO commenced on Tuesday, July 8 and will conclude on Thursday, July 10. GLEN Industries IPO price band has been set between ₹ 92 and ₹ 97 per equity share, each with a face value of ₹ 10. Investors can place bids for a minimum of 1,200 equity shares and in multiples of 1,200 shares thereafter. Glen Industries Limited focuses on producing environmentally friendly food packaging and service products. The company is known for its thin-wall food containers and compostable straws, catering to sectors like Hotels, Restaurants, Cafés/Catering (HoReCa), the beverage sector, and food packaging. To meet increasing demand, the company has opened a new 90,000 sq. ft. manufacturing facility in Dhulagarh, equipped with state-of-the-art machinery and skilled personnel to improve production and quality. The company exports its products to Europe, the USA, Australia, the Middle East, and Africa, adapting to local preferences. As per the red herring prospectus (RHP), the company's sole listed peer is Rajshree Polypack Ltd (with a P/E of 24.94). GLEN Industries IPO subscription status is 1.51 times on day 1, so far, as per The retail portion was subscribed 2.19 times, and NII portion was booked 2.16 times. Qualified Institutional Buyers (QIBs) portion is yet to be subscribed, and employee portion has been booked 14%. The company has received bids for 65,90,400 shares against 43,71,600 shares on offer, at 16:54 IST, according to data on GLEN Industries IPO consists of a fresh issue of 64,96,800 equity shares, aggregating to ₹ 63.02 crore, and there is no offer-for-sale (OFS) component. Lalit Agrawal, CMD, Glen Industries said that this IPO is purely for funding their capex plans — there's no OFS, and promoter stake will remain strong post-listing. 'We've kept the pricing reasonable to leave room for investor upside. Our products cater to consistent demand sectors like HORECA and beverages, with a healthy share of exports. The new facility will help us scale efficiently and improve margins. We're also focused on ESG compliance and long-term operational strength. Overall, it's a step forward in building a stable and sustainable manufacturing businessman' added Agrawal. GYR Capital Advisors Private Limited serves as the book-running lead manager for the GLEN Industries IPO, and Kfin Technologies Limited functions as the registrar for this issue. The market maker for the GLEN Industries IPO is Giriraj Stock Broking Private Limited. GLEN Industries IPO GMP is +30. This indicates GLEN Industries share price were trading at a premium of ₹ 30 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of GLEN Industries share price was indicated at ₹ 127 apiece, which is 30.93% higher than the IPO price of ₹ 97. 'Grey market premium' indicates investors' readiness to pay more than the issue price.' Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Economic Times
5 days ago
- Business
- Economic Times
Glen Industries IPO opens today. Check GMP, price band and other details
The initial public offering (IPO) of Glen Industries will open for subscription on July 8 aiming to raise Rs 63.02 crore through a fresh issue of 64.96 lakh equity shares. 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 minimum application size for retail investors is 2,400 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 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. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
5 days ago
- Business
- Time of India
Glen Industries IPO opens today. Check GMP, price band and other details
The initial public offering (IPO) of Glen Industries will open for subscription on July 8 aiming to raise Rs 63.02 crore through a fresh issue of 64.96 lakh equity shares. 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. Live Events 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. 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. "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. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
