GLEN Industries shares make stellar debut, list at ₹157 on BSE SME — 62% premium over IPO price
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The SME initial public offering (IPO), with a total issue size of ₹63.02 crore, was open for bidding from July 8 to July 10. The offering received an overwhelming response from investors, closing with a subscription of 260.28 times.
The IPO attracted bids for 113.78 crore shares compared to the 43.71 lakh shares on offer. The retail investor category was subscribed 225.15 times while the non-institutional investor (NII) segment witnessed 476.25 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was bid the most, 192.46 times. Moreover, the employee quota was booked 0.36 times in the three days of bidding.
About the IPO
The IPO was entirely a fresh issue of 64.97 lakh shares with no offer-for-sale. The lot size for the IPO was fixed at 1,200 shares, with the minimum investment for retail investors set at ₹2,20,800, equivalent to applying for two lots or 2,400 shares. The offering includes a reserved portion of up to 1,53,600 shares for employees, available at a ₹5 discount to the issue price.
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Proceeds from the fresh issue will be primarily utilised to establish a new manufacturing facility at Purba Bardhaman, PS – Jamalpur, along with funding general corporate requirements.
GLEN Industries raised ₹17.46 crore from anchor investors on Monday, July 7, 2025, ahead of its IPO.
The IPO is being managed by GYR Capital Advisors Private Limited as the book-running lead manager, with Kfin Technologies Limited appointed as the registrar. Giriraj Stock Broking Private Limited will serve as the market maker for the issue.
About the Company
Incorporated in 2007, Glen Industries Limited (GIL) is engaged in the production of eco-friendly food packaging and service products. The company specialises in manufacturing thin-wall food containers and compostable straws, catering to key segments such as HoReCa (Hotels, Restaurants, Cafés/Catering), the beverage sector, and the broader food packaging industry.
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To meet rising demand, Glen Industries has set up a 90,000 sq. ft. manufacturing facility in Dhulagarh, equipped with modern machinery and a skilled workforce aimed at boosting both output and quality standards.
GIL exports its products to markets across Europe, the USA, Australia, the Middle East, and Africa, with offerings tailored to regional preferences. The company's dedication to quality and reliability is reflected in its strong base of over 25 loyal customers globally.
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