All details for GLEN Industries IPO: Price, subscription, allotment, financials, objectives, anchors, registrar, and company overview.
Issue price: ₹97 | Allotment finalized July 11 | Subscribed 260.28x | Listing July 15, 2025
GLEN Industries IPO: At a Glance
IPO Timeline
| IPO Activity | Date |
|---|---|
| IPO Open Date | July 8, 2025 |
| IPO Close Date | July 10, 2025 |
| Allotment Finalization | July 11, 2025 |
| Refunds Initiation | July 14, 2025 |
| Credit of Shares to Demat | July 14, 2025 |
| IPO Listing Date | July 15, 2025 |
Anchor Investors
| Bid Date | Shares Offered | Anchor Portion Size (₹ Cr) | Lock-in (50%) | Lock-in (90%) |
|---|---|---|---|---|
| July 7, 2025 | 18,00,000 | 17.46 | Aug 10, 2025 | Oct 9, 2025 |
IPO Subscription Status (Final, July 10, 2025)
| Category | Subscription (times) | Shares Offered | Shares Bid For | Applications |
|---|---|---|---|---|
| QIB | 192.46x | 12,04,800 | 23,18,71,200 | 0 |
| NII | 476.25x | 9,06,000 | 43,14,84,000 | 0 |
| bNII | 588.85x | 6,04,800 | 35,61,37,200 | 2,44,644 |
| sNII | 251.24x | 3,01,200 | 7,56,72,000 | 2,44,644 |
| Individual Investors | 225.15x | 21,07,200 | 47,44,32,000 | 0 |
| Employee | 0.36x | 1,53,600 | 55,200 | 0 |
| Total | 260.28x | 43,71,600 | 1,13,78,42,400 | 2,44,644 |
Employee Discount: ₹5 per share
Market Maker: Not included in NII/HNI
IPO Price & Lot Size
| Issue Price | ₹97 per share |
|---|---|
| Market Lot | 1,200 Shares |
| Retail Min | 2 lots (2,400 shares) – ₹2,32,800 |
| Retail Max | 2 lots (2,400 shares) – ₹2,32,800 |
| S-HNI Min | 3 lots (3,600 shares) – ₹3,49,200 |
| S-HNI Max | 8 lots (9,600 shares) – ₹9,31,200 |
| B-HNI Min | 9 lots (10,800 shares) – ₹10,47,600 |
| Employee Min | 2 lots (2,400 shares) – ₹2,32,800 |
| Employee Max | 4 lots (4,800 shares) – ₹4,65,600 |
Company Financials (₹ Crore)
Bar Chart: Revenue, PAT & Net Worth
Line Chart: Revenue, PAT & Net Worth
| Period Ended | Assets | Revenue | Profit After Tax | EBITDA | Net Worth | Reserves & Surplus | Total Borrowing |
|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 214.36 | 171.28 | 18.27 | 40.43 | 40.21 | 40.80 | 132.83 |
| 31 Mar 2024 | 160.31 | 145.22 | 8.58 | 24.87 | 26.65 | 39.16 | 88.83 |
| 31 Mar 2023 | 137.07 | 119.59 | 1.49 | 13.89 | 18.07 | 30.67 | 81.65 |
Key Performance Indicators (KPI)
| KPI | Values |
|---|---|
| Market Cap | ₹233.40 Cr |
| ROCE | 16.94% |
| Debt/Equity | 2.28 |
| RoNW | 45.43% |
| PAT Margin | 10.70% |
| EBITDA Margin | 23.60% |
| Price to Book Value | 0.22 |
| EPS (Pre IPO) | 10.40 |
| EPS (Post IPO) | 7.59 |
| P/E (Pre IPO) | 9.33 |
| P/E (Post IPO) | 12.78 |
Objects of the Issue
| S.No. | Objects | Expected Amount (₹ Cr) |
|---|---|---|
| 1 | Setting Up a new manufacturing facility at Purba Bardhaman, PS – Jamalpur, Gram Panchayat: Jougram, Mouza – Jaugram, JL no 114, West Bengal 713166 | 47.73 |
| 2 | General Corporate Purpose | — |
About GLEN Industries Ltd.
Incorporated: 2007
Business: Manufacturer of eco-friendly food packaging and service products (thin-wall containers, compostable straws) for HoReCa, beverage, and packaging sectors.
Facilities: 90,000 sq. ft. in Dhulagarh, advanced manufacturing.
Exports: Europe, USA, Australia, Middle East, Africa.
Customers: Over 25 loyal customers globally.
Product Portfolio: Thin-wall containers (2011, 80 MT/mo to 665 MT/mo in 2022); Compostable straws (paper/PLA, U-shaped, beverage/dairy, 255 MT/mo total).
Employees: 306 (as of May 31, 2025)
Promoters: Lalit Agrawal, Lata Agrawal, Nikhil Agrawal, Niyati Seksaria
Strengths:
- Experienced management & team
- Established customer relationships
- Advanced in-house facilities, cost focus
- Quality assurance & customisation
Contact Details
Rajveena, 2nd Floor, 50A, Block-C, New Alipore, Kolkata, West Bengal, 700053
Phone: +91 9831087598
Email: info@glen-india.com
Website: http://www.glen-india.com/
Frequently Asked Questions (FAQ)
The issue price for GLEN Industries IPO is ₹97 per share, as announced in the Draft Red Herring Prospectus (DRHP).
The IPO opened for subscription on July 8, 2025, and closed on July 10, 2025, as per the announced timeline.
The minimum investment for retail investors is 2 lots (2,400 shares), which amounts to ₹2,32,800 at the issue price of ₹97 per share. Employees are eligible for a ₹5 per share discount, reducing the minimum investment to ₹2,20,800 for 2 lots (2,400 shares).
You can apply for the IPO through:
- Your bank's net banking platform (ASBA facility)
- Brokerage accounts (online or offline)
- Registered investment platforms
- Designated branches of syndicate banks
The exact application process is detailed in the Red Herring Prospectus (RHP). Note that bidding at the cut-off price is not allowed for any category.
GLEN Industries Ltd. manufactures eco-friendly food packaging and service products for the HoReCa, beverage, and packaging sectors. Its revenue sources include:
- Sales of thin-wall containers (80 MT/mo in 2011 to 665 MT/mo in 2022)
- Compostable straws (paper/PLA, U-shaped, beverage/dairy, 255 MT/mo total)
- Exports to Europe, USA, Australia, Middle East, and Africa
- Domestic sales to over 25 loyal customers globally
The company’s advanced manufacturing facility in Dhulagarh (90,000 sq. ft.) and focus on quality and customization drive its revenue growth.
Key risks to consider include:
- Market risk: Dependence on demand for eco-friendly packaging, sensitive to economic and consumer trends
- Debt risk: High debt-to-equity ratio of 2.28, indicating significant leverage
- Competition: Intense competition from other packaging manufacturers
- Operational risk: Reliance on raw material availability and manufacturing efficiency
- Regulatory risk: Compliance with environmental and food safety regulations
Investors should review the risk factors in the RHP before investing.
The net proceeds from the fresh issue (₹63.02 Cr) will be used for:
- Setting up a new manufacturing facility at Purba Bardhaman, West Bengal (₹47.73 Cr)
- General corporate purposes
Specific allocations are detailed in the RHP.
GLEN Industries has:
- Revenue growth from ₹119.59 Cr (FY23) to ₹171.28 Cr (FY25)
- PAT growth from ₹1.49 Cr (FY23) to ₹18.27 Cr (FY25)
- EBITDA growth from ₹13.89 Cr (FY23) to ₹40.43 Cr (FY25)
- Net worth growth from ₹18.07 Cr (FY23) to ₹40.21 Cr (FY25)
- 306 employees as of May 31, 2025
- Advanced 90,000 sq. ft. manufacturing facility in Dhulagarh, serving global markets
The company’s focus on eco-friendly products and established customer relationships drive its growth.
As of March 31, 2025:
- Total borrowings: ₹132.83 crore
- Debt-to-equity ratio: 2.28
- EBITDA: ₹40.43 Cr, supporting debt servicing capacity
The company’s strong EBITDA growth supports its ability to manage debt levels.
The book running lead managers for GLEN Industries IPO are not specified in the provided data. They are announced in the RHP and are responsible for managing the IPO process, including investor roadshows, price discovery, and allocation.
