GLEN Industries IPO is a book-built issue of ₹63.02 crores. The issue is entirely a fresh issue of 64.97 lakh shares.
GLEN Industries IPO opens for subscription on July 8, 2025, and closes on July 10, 2025. The allotment is expected to be finalized on Friday, July 11, 2025. The shares will be listed on BSE SME, with a tentative listing date set for Tuesday, July 15, 2025.
The price band is set at ₹92 to ₹97 per share. The lot size for an application is 1,200 shares. The minimum investment for retail investors is ₹2,20,800 (2,400 shares). For HNIs, the minimum investment is 3 lots (3,600 shares) amounting to ₹3,49,200.
The issue includes a reservation of up to 1,53,600 shares for employees, offered at a ₹5.00 discount to the issue price.
The proceeds from the GLEN Industries IPO will be used to expand manufacturing capacity, meet working capital needs, and support general corporate purposes.
With its focus on eco-friendly packaging solutions and strong financial performance, GLEN Industries IPO presents an opportunity for investors interested in the sustainable packaging sector.
Refer to GLEN Industries IPO RHP for detailed information.
GLEN Industries IPO Details
| Genera | Details |
|---|---|
| IPO Date | July 8, 2025 to July 10, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹92 to ₹97 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 64,96,800 shares (aggregating up to ₹63.02 Cr) |
| Reserved for Market Maker | 3,25,200 shares (aggregating up to ₹0.0009 Cr) |
| Net Offered to Public | 61,71,600 shares (aggregating up to ₹59.86 Cr) |
| Employee Discount | ₹5.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,75,64,570 shares |
| Share Holding Post Issue | 2,40,61,370 shares |
GLEN Industries IPO Lot Size
Investors can place bids for a minimum of 2,400 shares, and in multiples of 1,200 shares thereafter. The table below shows the minimum and maximum investment limits for both Retail Individual Investors (RII) and High Net-Worth Individuals (HNIs) in terms of number of shares and total amount applicable under the GLEN Industries IPO.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,32,800 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,32,800 |
| S-HNI (Min) | 3 | 3,600 | ₹3,49,200 |
| S-HNI (Max) | 8 | 9,600 | ₹9,31,200 |
| B-HNI (Min) | 9 | 10,800 | ₹10,47,600 |
| Employee (Min) | 2 | 2,400 | ₹2,32,800 |
| Employee (Max) | 4 | 4,800 | ₹4,65,600 |
GLEN Industries IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
GLEN Industries IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,25,200 (5.01%) |
| QIB Shares Offered | 30,04,800 |
| − QIB (Ex. Anchor) Shares Offered | 30,04,800 |
| NII (HNI) Shares Offered | 9,06,000 (13.95%) |
| Retail Shares Offered | 21,07,200 (32.43%) |
| Employee Shares Offered | 1,53,600 (2.36%) |
| Total Shares Offered | 64,96,800 (100.00%) |
GLEN Industries IPO Timeline
| IPO Timeline | Dates |
|---|---|
| IPO Open Date | Tue, Jul 8, 2025 |
| IPO Close Date | Thu, Jul 10, 2025 |
| Tentative Allotment | Fri, Jul 11, 2025 |
| Initiation of Refunds | Mon, Jul 14, 2025 |
| Credit of Shares to Demat | Mon, Jul 14, 2025 |
| Tentative Listing Date | Tue, Jul 15, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 10, 2025 |
GLEN Industries IPO Category Reservation Details
| Application Category | Bidding Limits |
|---|---|
| Only Individual investor (retail) | 2 lots |
| Only sNII | 3 lots – 8 lots |
| Only bNII | 9 lots and above |
| Only employee | 2 lots – 4 lots |
| Employee + RII/NII | 1. Employee limit: 2 lots – 4 lots AND2. If applying as RII: 2 lots OR2. If applying as sNII: 3 lots – 8 lots OR2. If applying as bNII: 9 lots and above |
About GLEN Industries
Glen Industries Limited is a West Bengal-based packaging company known for its focus on eco-friendly and sustainable food packaging solutions. Established in 2007, the company initially started as a stationery product manufacturer, but later pivoted to become a key player in the green packaging segment, addressing the growing demand for biodegradable and compostable products in the food and beverage industry.
The company operates through two manufacturing facilities in Dhulagarh and Jalan Industrial Complex, both equipped with modern infrastructure and automation. Its products cater to quick-service restaurants (QSRs), cafes, beverage companies, and the HoReCa (Hotel-Restaurant-Catering) sector.
GLEN holds multiple industry certifications such as FSSC 22000, ISO 9001:2015, and HACCP, ensuring quality, safety, and food-grade compliance across all product lines.
The funds raised through the GLEN Industries IPO will be used to set up a new manufacturing unit at Jaugram, upgrade machinery, expand production capacity, and fulfill working capital requirements.
Product Portfolio (Simple & Clear)
GLEN offers a wide range of food-grade, environment-friendly products, including:
- Thin-wall food containers Used by restaurants, food delivery, and cloud kitchens
- PLA straws Biodegradable straws made from corn starch (eco-friendly plastic alternative)
- Paper straws Recyclable straws used in cafes and takeaway counters
- Microwave-safe containers Heat-resistant disposable boxes for reheating food
- Cutlery and lids Matching forks, spoons, knives, and container lids
Competitive Strengths of Glen Industries
Here are the key strengths that make GLEN Industries a strong IPO contender:
- Established Market Position: Operating since 2007 with a clear shift toward high-growth packaging since 2017
- Sustainability-Driven Product Line: All products align with current market demand for green packaging
- Fully Certified Operations: Holds certifications required to work with global F&B brands
- Strong Financial Growth: FY24 revenue of ₹170.7 crore (18% YoY growth), net profit of ₹18.3 crore (113% YoY growth)
- High Production Capacity:
- 665 MT/month of food containers
- 160 MT/month of PLA straws
- 95 MT/month of paper straws
- Future-Ready Expansion: Upcoming third manufacturing unit in Jaugram, which will double manufacturing scale
- Automation & Efficiency: Use of automated machines helps maintain quality and reduce production time
- Wide Customer Network: Supplies to QSRs, FMCG brands, dairy companies, cloud kitchens, and exporters.
Company Financials
GLEN Industries IPO Financial Information
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.
| Category | Year 2025 | Year 2024 | Year 2023 |
|---|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 214.36 | 160.31 | 137.07 |
| Revenue | 171.28 | 145.22 | 119.59 |
| Profit After Tax | 18.27 | 8.58 | 1.49 |
| EBITDA | 40.43 | 24.87 | 13.89 |
| Net Worth | 40.21 | 26.65 | 18.07 |
| Reserves and Surplus | 40.80 | 39.16 | 30.67 |
| Total Borrowing | 132.83 | 88.83 | 81.65 |
| Amount in ₹ Crore | |||
GLEN Industries IPO Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROCE | 16.94% |
| Debt/Equity | 2.28 |
| RoNW | 45.43% |
| PAT Margin | 10.70% |
| EBITDA Margin | 23.60% |
| Price to Book Value | 0.22 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.40 | 7.59 |
| P/E (x) | 9.33 | 12.78 |
- Note:
- The Pre-Issue EPS is calculated based on the pre-issue shareholding as on the date mentioned in the RHP, using the latest audited earnings for the financial year ended March 31, 2025, as disclosed in the RHP.
- The Post-Issue EPS is calculated based on the post-issue shareholding and the annualized earnings for the financial year ended March 31, 2025, also as reported in the RHP.
GLEN Industries IPO Objects of the Issue
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
GLEN Industries IPO Pros & Cons
Pros
- Focus on eco-friendly packaging (PLA & paper products)
- Strong FY24 growth in revenue and profit
- Certified for food safety (FSSC 22000, ISO, HACCP)
- Expansion underway (new unit at Jaugram)
- Automated in-house production
- Diverse product range for QSRs and FMCGs
- Domestic and export customer base
Cons
- SME listing may mean low liquidity
- Raw material cost fluctuation risk
- Limited track record in packaging segment
- High competition in the sector
- All operations based in West Bengal
- Full fresh issue causes equity dilution
GLEN Industries IPO Contact Details
- GLEN Industries Limited
Rajveena, 2nd Floor,
50A, Block-C,
New Alipore
Kolkata, West Bengal, 700053 - Phone: +91 9831087598
- Email: info@glen-india.com
- Website: https://glen-india.com/
GLEN Industries IPO Registrar
- Kfin Technologies Limited
- Phone: 04067162222, 04079611000
- Email: gil.ipo@kfintech.com
- Website: Check IPO Status
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