PNN
New Delhi [India], July 7: Incorporated in 2007, Glen Industries Limited (GIL) is engaged in the manufacturing of eco-friendly food packaging and service products. The company is poised for its initial public offering (IPO), with plans to raise INR 62.94 crores through the issuance of 64.97 lakh new shares.
For its SME Initial Public Offering (IPO), Glen Industries Limited has established a price band of Rs 92 to Rs 97 per share. The company's shares will open for subscription on Tuesday, July 8, 2025 and closes on Thursday, July 10, 2025. These will be listed on the BSE SME, with a projected listing date of Tuesday, Jul 15, 2025.
GYR Capital Advisors Private Limited is the book-running lead manager of the GLEN Industries IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for GLEN Industries IPO is Giriraj Stock Broking Private Limited.
The issue proceeds will be utilized in Setting Up a new manufacturing facility at Purba Bardhaman, West Bengal and general corporate purposes.
On Friday, July 11, 2025, the shares for the Glen Industries Limited IPO are anticipated to be allotted, and on Monday, July 14, 2025, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.
Retail investors need to contribute a minimum of Rs 2,32,800 lakh considering the minimum for 2 lots for an application is 2400 shares. For HNIs, the minimum bidding size is three lots, or 3600 shares, for a total investment of Rs 3,49,200 lakh at the upper price band.
GLEN Industries Limited's revenue increased by 18% and profit after tax (PAT) rose by 113% between the financial year ending with March 31, 2025 and March 31, 2024.
The company specializes in producing thin-wall food containers and compostable straws, serving sectors such as Hotels, Restaurants, Cafes/Catering (HoReCa), the beverage industry, and food packaging.
GLEN Industries Limited is committed to meeting growing demand from existing 90,000 sq. ft. manufacturing facility in Dhulagarh, equipped with advanced machines and skilled staff to enhance production and quality and new proposed manufacturing facility both in West Bengal. The company exports products to Europe, USA, Australia, the Middle East, and Africa, tailored to local preferences. Over 25 loyal export customers reflect the company's commitment to quality and consistency.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN.will not be responsible in any way for the content of the same)
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor