GLEN Industries IPO is a book-built issue of ₹63.02 crore, consisting entirely of a fresh issue of 64.97 lakh equity shares. The IPO opens for public subscription on July 8, 2025, and closes on July 10, 2025. The basis of allotment is expected to be finalised on July 11, 2025.
The shares are proposed to be listed on the BSE SME platform, with a tentative listing date set for July 15, 2025. The price band for the GLEN Industries IPO is fixed between ₹92 to ₹97 per share. Investors can apply for a minimum lot size of 1200 shares.
For retail investors, the minimum investment amount stands at ₹1,10,400 for 1,200 shares. High Net-Worth Individuals (HNI) must invest in at least three lots, or 3,600 shares, which amounts to ₹3,49,200.
A reservation of up to 1,53,600 shares is made for eligible employees at a discounted price of ₹5 per share. GYR Capital Advisors Private Limited is managing the book-building process, with Kfin Technologies Limited acting as the registrar and Giriraj Stock Broking Private Limited serving as the market maker.
Industry Outlook
- The global plastic packaging market is projected to grow from 103.63 million tonnes in 2024 to 121.93 million tonnes by 2029, with a CAGR of 3.31%. This steady global growth creates long-term demand opportunities for companies like GLEN Industries Limited, especially in supplying durable and flexible packaging materials.
- In India, the plastic packaging market is expected to expand from USD 21.77 billion in 2024 to USD 25.35 billion by 2029, growing at a CAGR of 3.09%. With rising demand from the food, beverage, and FMCG sectors, GLEN Industries can benefit from this momentum by catering to domestic packaging needs.
- The rising popularity of pouch packaging and PET-based containers in the Indian market, combined with innovations like heat-resistant bottles, opens up new product development opportunities. This trend supports GLEN Industries Limited’s potential to diversify and strengthen its packaging solutions.
GLEN Industries IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funds will be used to set up a new manufacturing facility in Purba Bardhaman, West Bengal, supporting capacity expansion and operational growth.
- Remaining funds will be allocated towards general corporate purposes and other strategic needs.
About GLEN Industries Limited
GLEN Industries Limited, originally incorporated as GLEN Stationery Private Limited in October 2007, began its journey in the stationery and printing materials segment. The company underwent a name change to GLEN Industries Private Limited in December 2018, and later converted into a public limited company in August 2024.
GLEN Industries is engaged in the manufacturing of a wide range of food packaging and service products. Its key offerings include Thin Wall Food Containers, Paper Straws, and Polylactic Acid (PLA) Straws. These products cater primarily to the HoReCa sector, Quick Service Restaurants (QSR), and the food, beverage, and dairy industries.
The company began production of Thin Wall Food Containers in 2019 with a capacity of 195 MT/month, which has now increased to 665 MT/month. It also expanded into paper and PLA straws, now producing 95 MT/month and 160 MT/month respectively.
A new facility in Dhulagarh, Howrah, spanning 90,000 sq. ft., has further strengthened the company’s manufacturing capabilities. GLEN Industries maintains high-quality standards through advanced machinery, skilled staff, and strict compliance with certifications such as FSSC 22000, ISO 9001:2015, and HACCP.
Under the leadership of Mr. Lalit Agrawal, the company has expanded its market reach globally, exporting to regions like Europe, the USA, Australia, and the Middle East. Strong financial growth has also been recorded, with revenues increasing from ₹11,885.07 lakh in FY23 to ₹17,066.09 lakh in FY25, reflecting consistent business performance and market demand.
How To Check the Allotment Status of GLEN Industries IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the GLEN Industries IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the GLEN Industries IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of GLEN Industries IPO
Registered office: Rajveena, 2nd Floor, 50A, Block-C, New Alipore, Kolkata, West Bengal, India, 700053
Phone: +91 9874775191
E-mail:info@glen-india.com
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 Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
1 |
1,200 |
₹1,10,400 |
|
Individual investors (Retail) (Max) |
2 |
2,400 |
₹2,32,800 |
|
HNI (Min) |
3 |
3,600 |
₹3,49,200 |
GLEN Industries IPO Promoter Holding
The promoters of the company include Mr. Lalit Agrawal, Mrs. Lata Agrawal, Mr. Nikhil Agrawal, and Mrs. Niyati Seksaria.
|
Share Holding Pre-Issue |
100.00% |
|
Share Holding Post Issue |
- |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
GLEN Industries IPO Anchor Investors Details
|
Bid Date |
July 7, 2025 |
|
Shares Offered |
18,00,000 |
|
Anchor Portion Size (In ₹ Cr.) |
17.46 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
August 10, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
October 9, 2025 |
Key Performance Indicators for GLEN Industries IPO
|
KPI |
Value |
|
EBITDA Margin (%) |
23.60 |
|
RoCE (%) |
16.94 |
|
RoNW (%) |
45.43 |
|
PAT Margin (%) |
10.70 |
|
Price to Book Value |
0.22 |
GLEN Industries IPO Prospectus
GLEN Industries IPO Registrar and Lead Managers
GLEN Industries IPO Lead Managers
- GYR Capital Advisors Private Limited
Registrar for GLEN Industries IPO
Kfin Technologies Limited
- Contact Number: 04067162222, 04079611000
- Email Address: gil.ipo@kfintech.com
GLEN Industries IPO Registrar
Financial Performance of GLEN Industries Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 17,066.09 | 14,450.02 |
| Profit/ (loss) for the year (in ₹ lakh) | 1,826.57 | 857.89 |
| Total borrowings (in ₹ lakh) | 13,282.74 | 8,882.75 |
| Total Income (in ₹ lakh) | 17,128.44 | 14,522.41 |
| Return on Net Worth (%) | 45.43 | 32.19 |
| Return on Capital Employed (RoCE) (%) | 16.94 | 13.49 |
| EBITDA (in ₹ lakh) | 4,043.05 | 2,486.88 |
Know before investing
Strengths
8Strong leadership with 40+ years’ experience drives strategic business growth.
Export presence in Europe, USA, Middle East reflects customer trust.
Monthly production capacity of 665 MT shows robust manufacturing strength.
ISO and HACCP certifications ensure global standards in product quality.
₹4,773 lakh allocated for a new facility to boost production scale.
Customised packaging options cater to evolving client branding needs.
Focus on sustainable materials strengthens eco-friendly market positioning.
Wide product range supports entry into new high-growth market segments.
Risks
857.04% of revenue in FY25 was spent on volatile raw materials.
Operations rely on external suppliers for machinery and raw materials.
No non-compete pact with subsidiary may lead to conflict risks.
Complete dependence on third-party logistics can disrupt product deliveries.
₹4,773 lakh project delay may impact operations and cash flows.
All manufacturing is in Howrah, exposing business to regional disruptions.
Heavy dependence on exports increases global compliance and trade risks.
Business relies on promoters’ expertise; leadership change may affect growth.
GLEN Industries IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (₹) | RoNW (%) |
|---|---|---|---|---|
| GLEN Industries Limited | 10.40 | 10.40 | 33.23 | 45.43 |
| Rajshree Polypack Limited | 1.09 | 1.08 | 21.73 | 4.98 |
