GLEN Industries IPO GMP, Price, Date, Allotment Status

GLEN Industries Limited, a Kolkata-based company specialising in manufacturing of eco-friendly food packaging and service products, launched its Initial Public Offering (IPO) on July 8, 2025. The IPO aims to raise ₹63.02 crores through a fresh issue of 64.96 lakh equity shares.

This article provides details of GLEN Industries IPO, including its GMP (Grey Market Premium), key dates, price band, and allotment details.

GLEN Industries IPO Details

GLEN Industries is a BSE SME IPO they aimed to raise 63.02 Cr via this IPO with a fresh issue of 64.96 lakh equity shares with a face value of ₹10 each. This IPO was set to open on 08 July 2025 and closing on 10 July 2025, and was set to be listed on BSE SME on 15 July 2025 at 10:00 am.

GLEN Industries IPO Key Timeline

The shares are proposed to be listed on the BSE SME platform on July 15, 2025.

GLEN Industries IPO Overview

• Issue Type: Book-built issue
• Total Issue Size: ₹63.02 crores (64,96,800 equity shares)
• Fresh Issue: ₹63.02 crores (64,96,800 equity shares)
• Offer for Sale: None
• Face Value: ₹10 per equity share
• Price Band: ₹92 to ₹97 per share
• Lot Size: 1,200 shares
• Minimum Investment (Retail): ₹1,10,400 (1 lot, 1,200 shares at ₹92)
• Minimum Investment at Cut-off (Retail): ₹1,16,400 (1 lot, 1,200 shares at ₹97)
• Minimum Investment (sHNI): ₹2,32,800 (2 lots, 2,400 shares at ₹97)
• Minimum Investment (bHNI): ₹3,49,200 (3 lots, 3,600 shares at ₹97)
• Market Maker Portion: 3,25,200 shares (₹3.15 Cr)
• Employee Reservation: 1,53,600 shares (offered at a ₹5 discount)
• IPO Reservation:
  Qualified Institutional Buyers (QIB): 47.38%
  Non-Institutional Investors (NII/HNI): 14.29%
  Retail Investors: 32.43%
  Anchor Investors: 28.41%
• UPI Mandate Confirmation Cut-off: 5:00 PM on July 10, 2025

Investors can apply through ASBA (via bank net banking), UPI (via registered brokers), or offline forms through stockbrokers. The IPO is managed by GYR Capital Advisors Private Limited as the book-running lead manager, with Kfin Technologies Limited as the registrar. The market maker is Giriraj Stock Broking Private Limited.

About GLEN Industries Limited

Founded in 2007 as "Glen Stationery Private Limited," GLEN Industries Limited transitioned to manufacturing eco-friendly food packaging and service products.

1. Thin-wall food containers
2. Polylactic acid (PLA) straws
3. Paper straws. 

The company primarily serves the Hotel, Restaurant, and Cafe/Catering (HoReCa) sector, Quick Service Restaurants (QSR), and the food, beverage, and dairy industries. It operates a 90,000 sq. ft. modern manufacturing facility in Dhulagarh, equipped with advanced machinery and a skilled workforce. 

GLEN Industries exports to Europe, the USA, Australia, the Middle East, and Africa, serving over 25 loyal customers.

Key Highlights

• Product Portfolio: Thin-wall food containers (capacity scaled from 80 MT/month in 2011 to 665 MT/month by 2022), PLA straws, and paper straws tailored for various industries.
• Market Presence: Exports to multiple regions with customised products, maintaining strong client relationships.
• Promoters: the company’s promoters were 
  1) Mr. Lalit Agrawal
  2) Mrs. Lata Agrawal
  3) Mr. Nikhil Agrawal
  4) Mrs. Niyati Seksaria.
• Business Model: The company’s business is fully focuses on high-quality, eco-friendly packaging solutions with a robust supply chain globally.
• Objective of the Issue: Proceeds will fund the setup of a new manufacturing facility and general corporate purposes.

Competitive Strengths

• Eco-Friendly Focus: The company is totally focusing  in sustainable packaging, aligning with global environmental trends.
• Strong Financial Growth: Revenue increased by 18% and profit after tax (PAT) by 113% from FY24 to FY25.
• Global Reach: Exports to multiple continents with a focus on customised solutions based on the client’s requirement.

Challenges

• Market Competition: GLEN Industries faces competition from previously established players in the food packaging industry.
• SME Scale: Smaller size compared to larger competitors may limit scalability.
• Dependence on Market Sentiment: SME IPOs are sensitive to market volatility, which could impact listing performance.
• Limited GMP Data: Inconsistent grey market activity may lead to listing price uncertainty.

Financial Performance

Key Performance Indicators (KPIs)

• Market Capitalisation: ₹233.40 Cr at the IPO upper price band of ₹97.
• Revenue Growth: The revenue has grown to 18% from ₹61.03 Cr in FY24 to ₹72.06 Cr in FY25.
• PAT Growth: The PAT grown 113% from ₹8.58 Cr in FY24 to ₹18.27 Cr in FY25.
• EPS (FY25): ₹7.59 of EPS resulting in a P/E ratio of 12.78x at the upper price band.
• P/E Ratio (Weighted EPS): The company’s P/E ratio is 13x based on FY25 earnings.
• Debt: Moderate borrowing at ₹10.54 Cr, indicating manageable leverage.

The company has a robust revenue and PAT growth, coupled with a reasonable P/E ratio, which indicates strong financials.

GLEN Industries IPO GMP

The Grey Market Premium (GMP) for GLEN Industries IPO is reported at ₹25 per share as of July 9, 2025, indicating a potential listing price of ₹122 per share (25.77% above the upper price band of ₹97). 

The GMP has ranged from ₹18 (July 4) to ₹25 (July 9), reflecting moderate grey market activity. Investors should note that GMP is unofficial and volatile, and investment decisions should not rely solely on GMP.

Things to Consider Before Applying for GLEN Industries IPO

Pros

• Strong Financials: The company has delivered a whopping 18% revenue growth and 113% PAT growth from FY24 to FY25, with a low P/E ratio of 12.78x, suggesting this IPO is at attractive valuation.
• Eco-Friendly Focus: The company’s total business aligns with global demand for sustainable packaging, which will enhance the long-term growth potential.
• Global Expansion: Exports to multiple regions globally and also having a loyal customer base of over 25 clients.
• SME IPO Appeal: Recent SME IPOs have seen high subscription rates and positive listing gains, boosting investor interest.
• Moderate Debt: Manageable borrowing levels support financial stability.

Risks

• Limited GMP Data: Inconsistent GMP suggests low pre-listing market activity, increasing listing price uncertainty.
• Market Competition: Faces competition from larger players in the food packaging sector.
• Small Issue Size: The ₹63.02 Cr issue may limit scalability and institutional interest.
• Market Sentiment: Volatility in SME IPO listings could impact subscription and listing performance.
• Dependence on HoReCa Sector: Revenue tied to specific industries may be vulnerable to sector-specific downturns.

How to Apply for GLEN Industries IPO?

Investors can apply through the following methods:

• Online ASBA: Use your bank’s net banking platform to apply via ASBA.
• UPI: Apply through UPI using a registered broker or trading app.
• Offline: Submit a physical application form through your stockbroker.

Steps to Apply via Broker

You can apply via your stockbroker by using UPI as a payment method, by following the steps below

• Log in to your stockbroker’s app or website.
• Navigate to the IPO section and select “GLEN Industries IPO.”
• Enter your UPI ID, quantity (minimum 1,200 shares), and price (preferably the cut-off price of ₹97).
• Submit the application and confirm the UPI mandate before 5:00 PM on July 10, 2025.

GLEN Industries IPO Allotment Status

The IPO allotment status will be available on the Kfin Technologies Limited website after July 11, 2025. Follow these steps:

• Visit the Kfin Technologies website.
• Select “GLEN Industries Limited” from the dropdown menu.
• Enter your PAN, application number, or DP/Client ID.
• Click “Search” to view your allotment status.

Alternatively, check the status on the BSE website by selecting “Equity” and “GLEN Industries Limited.” Investors will also receive allotment updates via email or push notifications from their brokers.

IPO Contact Details

GLEN Industries Limited:

• Address: Rajveena, 2nd Floor, 50A, Block-C, New Alipore, Kolkata, West Bengal, 700053
• Phone: +91 9831087598
• Email: info@glen-india.com

Registrar:

• Name: Kfin Technologies Limited
• Address: Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad – 500032, Telangana, India
• Phone: +91 40 6716 2222
• Email: gil.ipo@kfintech.com

Conclusion

The GLEN Industries IPO presents an exciting opportunity to invest in a company with strong financials that focuses on eco-friendly packaging. The company has loyal customers globally, and also an attractive valuation, which makes this IPO good for Long-Term Investments.

Disclaimer: The information provided is for educational purposes only and should not be considered investment advice. Investors are advised to conduct their own research and consult SEBI-registered financial advisors before making investment decisions.

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