The initial public offer (IPO) of Glen Industries received bids for 1,13,81,12,400 shares as against 46,96,800 shares on offer. The issue was subscribed 242.32 times.
Qualified Institutional Buyers (QIBs) bid for 23,18,71,200 shares, Non-Institutional Investors (NIIs) for 43,18,09,200 shares, while individual investors (IND category bidding for 2 lots) placed bids for 47,43,76,800 shares. Eligible employees (EMP) bid for 55,200 shares.
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 equity shares will list on BSE's SME platform.
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 café/catering (HoReCa) sector, the beverage industry, and the food packaging industry. The company’s 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.