Glen Industries shares list at 62% premium over IPO price on BSE SME platform
ADVERTISEMENT The company raised Rs 17.46 crore from anchor investors ahead of the offer. The strong demand came primarily from non-institutional investors (NIIs), whose quota was booked 476.25 times, followed by 225.15 times in the retail category and 192.46 times from qualified institutional buyers (QIBs).
In the grey market, the IPO is currently commanding a GMP of Rs 49, suggesting a likely listing premium of around 51% over the issue price.
Incorporated in 2007, GLEN Industries manufactures eco-friendly food packaging and service products. Its main products include thin-wall food containers and compostable straws, catering to the food and beverage industry both domestically and globally. It exports to markets such as Europe, the US, Australia, the Middle East, and Africa.The company recently expanded operations with a new 90,000 sq ft facility in West Bengal to meet growing demand.GLEN posted a 113% YoY jump in net profit to Rs 18.27 crore for FY25, while EBITDA rose to Rs 40.43 crore, up from Rs 24.87 crore in the previous year. Its EBITDA margin stands at 23.6%, and the return on net worth (RoNW) is 45.43%, reflecting strong operating leverage.
(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)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
12 minutes ago
- Deccan Herald
Lured by lottery ‘win', Bengaluru woman loses Rs 11.8 lakh to cyber fraudsters
Fearing legal trouble, she sent Rs 11.80 lakh to nine bank accounts, including those in UCO Bank, Indian Overseas Bank, and Axis Bank.
Time of India
41 minutes ago
- Time of India
Over 100 border villages of Punjab to be developed under central scheme
Bathinda: To boost development in rural areas, 107 villages from six border districts of Punjab have been included in a Vibrant Village Programme, meant for comprehensive development. This programme was launched in April 2025 and will continue until the financial year 2028-29. The identified focus areas of interventions under the programme are livelihood generation, road connectivity, village infrastructure including health facilities, financial inclusion, empowerment of youth and skill development and development of cooperatives. This was stated by Union minister of state for home affairs Nityanand Rai in a written reply in Rajya Sabha in response to a question by Punjab-based MP Satnam Singh Sandhu on Wednesday. Out of the total 107 villages, 25 are in Amritsar, 15 in Fazilka, 17 in Ferozepur, 19 in Gurdaspur, 7 in Pathankot, and 24 in Tarn Taran. The minister further stated that the central govt has approved the Vibrant Villages Programme-II (VVP-II), as a central sector scheme, with a total outlay of Rs 6,839 crore until the financial year 2028-29 for the comprehensive development of identified villages located in blocks abutting international land borders (ILBs), other than the northern border already covered under VVP-I. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Best SIP Plans for NRIs in Ukraine – Get ₹2L Monthly Pension | Invest ₹18K PB Learn More Undo Earlier, MP Satnam Singh Sandhu had asked whether any village from Punjab has been included under the Vibrant Villages Programme aimed at developing border regions; and the current status of implementation and the budget allocated for Punjab. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
41 minutes ago
- Time of India
Tailors, weavers, clerks are under construction workers' welfare board, says CAG
Bengaluru: The Comptroller and Auditor General (CAG) Wednesday pulled up Karnataka Building and Other Construction Workers Welfare Board for irregular and unauthorised expenditure of Rs 259 crore during the first wave of Covid-19 in 2020. In a report tabled in the legislature, CAG said the board had initially proposed a preventive health training and check-up programme for five lakh registered construction workers across the state. Its first proposal in July 2020, estimated at Rs 10 crore, was rejected by the finance department, which sought more clarity. A second proposal in Dec 2020 was also blocked after the finance department demanded justification for awarding the project to three agencies directly, without following the tender process, and for seeking 4(g) exemption under the Karnataka Transparency in Public Procurement (KTPP) Act. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru | Gold Rates Today in Bengaluru | Silver Rates Today in Bengaluru Instead of providing the required justification, the board secretary on April 12, 2021, sent a fresh proposal to the labour department to call for a tender to empanel agencies for a year. He also sought administrative approval to implement the scheme on a pilot basis in Dharwad circle for Rs 9 crore. Soon after, the board decided to split the same work into 30 individual projects, thereby avoiding the need for cabinet approval, and proceeded to call for quotations. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it better to shower in the morning or at night? Here's what a microbiologist says CNA Read More Undo The board later approved these projects post-facto in June 2022, citing exemption under Section 4(a) that was originally provided during the first and second waves of Covid-19 for supply of food and ration kits to labourers. The CAG noted, "Thus, the award of contracts from Sept 2021 to May 2022 in contravention to the act/rules resulted in irregular expenditure of Rs 258.8 crore." Responding to the audit, the govt said in Aug 2024 that the work was entrusted directly since a 4(a) exemption was accorded and that there was no contravention of rules. However, CAG rejected this defence, stating the reply was "unacceptable" as it was meant to address the Covid-19 emergency and criticised the labour department for approving work by splitting them into 30 sub-works of Rs 10 crore each despite finance department objections and without cabinet approval. The report also flagged irregularities in the registration of members. Of the board's 42.5 lakh registered workers, CAG found a significant number were not actually construction workers. A random survey of 399 applicants who registered through the Seva Sindhu portal revealed beneficiaries included tailors, clerks, weavers, and others from unrelated professions. The audit recommended that the board devise a mechanism to identify and weed out ineligible beneficiaries. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
