Glen Industries Limited, a manufacturer of food packaging and service products, is set to launch its Initial Public Offering (IPO) on the BSE SME platform. The IPO will open for public subscription on July 8, 2025, and close on July 10, 2025.

The issue size is ₹63.01 Crores, comprising 64.96 lakh fresh equity shares through a Book Built Issue. The company has set the IPO price band at ₹92 to ₹97 per equity share. The expected market capitalisation at the upper band of ₹97 stands at ₹233.39 Crores.

IPO Investment Details

• Minimum Lot Size: 1,200 shares

• Retail Investment: ₹1,16,400

• HNI Investment: 2 lots (2,400 shares) – ₹2,32,800

• Listing Exchange: BSE SME

• IPO Allotment Date: July 11, 2025

• Tentative Listing Date: July 15, 2025

The IPO is managed by GYR Capital Advisors Private Limited, with KFIN Technologies Limited as the Registrar. Giriraj Stock Broking Private Limited is the Market Maker for the issue.

About Glen Industries Limited

Glen Industries is a diversified player in the food packaging and service products segment. Its key offerings include:

• Thin Wall Food Containers

• Polylactic Acid (PLA) Straws

• Paper Straws

These products are majorly catered to the HoReCa (Hotel, Restaurant, Café/Catering) sector, Quick Service Restaurants (QSRs), beverage, and dairy industries. The company's product range is available in various shapes and sizes, meeting the growing demand for eco-friendly and sustainable packaging solutions.

Anchor Investors Participation

Glen Industries has successfully raised ₹17.46 Crores from Anchor Investors at ₹97 per share, allocating 18,00,000 equity shares. This strategic move adds confidence to the IPO by showcasing institutional interest.

Use of IPO Proceeds

The company plans to deploy the net proceeds from the IPO for:

1. ₹4,773.00 Lakhs – Setting up a new manufacturing facility at Purba Bardhaman, West Bengal.

2. General Corporate Purposes – Operational enhancement and business expansion.

This indicates Glen Industries’ focus on capacity expansion and strengthening its manufacturing infrastructure.

Financial Performance Snapshot

The company has demonstrated steady financial growth over the last three years:

• Revenue from Operations

  • FY23: ₹11,959.13 Lakh

  • FY24: ₹14,552.41 Lakh

  • FY25: ₹17,128.44 Lakh

• EBITDA

  • FY23: ₹1,426.22 Lakh

  • FY24: ₹2,529.80 Lakh

  • FY25: ₹4,096.74 Lakh

• Profit After Tax (PAT)

  • FY23: ₹148.55 Lakh

  • FY24: ₹857.89 Lakh

  • FY25: ₹1,826.57 Lakh

These figures reflect consistent revenue and profit growth, aided by the rising demand for packaging products in India’s booming food service sector.

Key Financial Metrics & Valuation

• Pre-Issue EPS (FY24): ₹10.4

• Post-Issue EPS (FY24): ₹7.59

• Pre-Issue P/E Ratio: 9.32x

• Post-Issue P/E Ratio: 12.78x

• Industry Average P/E: 16x

Other metrics:

• Return on Capital Employed (ROCE): 16.94%

• Return on Equity (ROE): 37.10%

• Return on Net Worth (RoNW): 45.43%

These indicators suggest that the IPO is fairly priced and offers value to investors relative to industry standards.

GMP (Grey Market Premium) Analysis

As of July 2, 2025, the GMP of Glen Industries IPO is ₹13, implying an expected listing price of ₹110 and a 13.40% gain over the upper price band.

While Grey Market trends are unofficial and speculative, this premium indicates positive investor sentiment ahead of the listing.

How to Check IPO Allotment Status

Investors can check the Glen Industries IPO allotment by following these steps from July 11, 2025:

1. Visit the official website of KFIN Technologies Limited

2. Select Glen Industries Limited IPO from the list

3. Enter Application Number, PAN, or DP ID

4. Click Submit to get allotment status

This step helps applicants confirm if they have received shares or need a refund.

Final Verdict – Should You Apply?

Glen Industries is a growth-focused company operating in a niche yet growing space of eco-friendly food packaging solutions. Backed by a strong leadership team, improving margins, consistent profits, and anchor investor support, it is well-positioned to tap into India’s expanding HoReCa and QSR markets.

With a GMP of ₹13, the IPO is attracting moderate grey market interest, suggesting listing gains potential.

However, as the company is listed on the BSE SME platform, liquidity post-listing might remain moderate to low, which could concern short-term retail traders.

  Recommendation:

Risk-Averse and Moderate Risk Investors may Apply for Listing Gains based on the current GMP and financials. Those looking for long-term potential in the food packaging space can consider staying invested.

Disclaimer:

This article is intended for informational and educational purposes only and does not constitute investment advice. Readers are advised to consult their financial advisor before making any investment decisions. Investments in securities are subject to market risks. Please read all related documents carefully before applying for the IPO. The data provided is based on publicly available information and may be subject to change.

The Upcoming IPOs in this week and coming weeks are CFF Fluid Control, Smarten Power Systems, Glen Industries, Travel Food Services, Anthem Biosciences, Chemkart India, Meta Infotech.

The Current active IPO are Happy Square Outsourcing Services, Cryogenic OGS, Crizac.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.