Glen Industries Limited is launching its ₹63.01 crore BSE SME IPO with a book-built price band of ₹92–97 per share. The issue runs from July 8–10, 2025.

This guide explains company details, IPO structure, price band, lot size, objectives, subscription status, GMP trend, financials, and our recommendation.

Company Overview

Glen Industries manufactures food packaging and service products like:

✅ Thin Wall Food Containers
✅ Polylactic Acid (PLA) Straws
✅ Paper Straws

Their products cater to:

• Hotel, Restaurant, Café/Catering (HoReCa) sector

• Quick Service Restaurants (QSR)

• Food, beverage, dairy industries

Their broad range in various shapes and sizes is widely accepted by the HoReCa and packaging sectors.

⭐ Leadership: Led by Mr. Lalit Agrawal (40+ years of experience), Mrs. Lata Agrawal, Mr. Nikhil Agrawal, and Mrs. Niyati Seksaria.

IPO Structure & Details

Important IPO Dates

Grey Market Premium (GMP)

✅ As of July 9, 2025, Glen Industries IPO GMP is ₹23, suggesting 23.71% premium over the upper band.

Note: GMP is unregulated, purely indicative, and may change before listing.

IPO Subscription Status (Live Update)

✅ As of 11:30 AM on July 9, 2025 (Day 2 of subscription):

• Overall Subscription: 4.55 times

Investors can check real-time updates on the BSE SME platform.

Anchor Investor Portion

Glen Industries has successfully raised ₹17.46 crores from Anchor Investors at ₹97 per share, allocating 18,00,000 shares.

Anchor participation underscores institutional confidence.

Objectives of the IPO

The company plans to utilise net proceeds as follows:

1️⃣ ₹47.73 Crores – Setting up new manufacturing facility at:

• Purba Bardhaman, PS – Jamalpur

• Gram Panchayat: Jougram, Mouza – Jaugram, West Bengal 713166

2️⃣ General Corporate Purposes

This expansion aligns with their aim to increase production capacity and meet growing demand.

Lead Manager & Market Maker

• Book Running Lead Manager: GYR CAPITAL ADVISORS PRIVATE LIMITED

• Registrar: KFIN TECHNOLOGIES LIMITED

• Market Maker: Giriraj Stock Broking Private Limited

Their involvement provides credibility and smooth IPO handling, especially on SME platform.

Financial Performance

Strong consistent growth over three years:

✔️ Revenue and EBITDA have grown robustly.
✔️ Profit after tax rose over 12x in two years.

Valuation Metrics

✅ The IPO is fairly priced, with P/E at a discount to industry average.

Strengths

⭐ Diverse product lineup (thin-wall containers, PLA & paper straws)
⭐ Strong client base in HoReCa, QSR, food & beverage sectors
⭐ Significant profit growth over FY23–FY25
⭐ Expansion plans supported by fresh IPO funds
⭐ Experienced management team with decades of expertise

Risks

⚠️ SME platform listing – liquidity may be lower than main board
⚠️ High minimum retail investment (₹2.32 lakh) reduces mass participation
⚠️ Raw material cost fluctuations can impact margins
⚠️ Competition in packaging sector requires continuous innovation

Allotment & Listing

✅ Allotment Date: July 11, 2025
✅ Listing Date: July 15, 2025 on BSE SME

How to check allotment:
1️⃣ Go to Registrar’s website (KFIN Technologies).
2️⃣ Select "Glen Industries Limited IPO" from dropdown.
3️⃣ Enter Application Number, PAN, or DP Client ID.
4️⃣ Submit to view allotment status.

Analyst View: Should You Subscribe?

✅ GMP of ₹23 suggests ~23% listing gain potential.
✅ Strong revenue and profit growth.
✅ Reasonable valuation vs. industry peers.
✅ Well-defined use of proceeds for capacity expansion.

Our recommendation:
✔️ Apply for listing gains, especially for Risk-Tolerant Investors.
✔️ Long-term prospects also appear promising given expansion plans and strong sector demand.

Final Verdict

✅ Recommended for listing gains – GMP suggests ~23% premium.
✅ Investors comfortable with SME risk profile can consider subscribing.
✅ Check allotment on July 11 and watch for listing on July 15.

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 NSDL, Anthem Biosciences, Spunweb Nonwoven, Smartworks Coworking, Asston Pharmaceuticals.

The Current active IPO are CFF Fluid Control, Anthem Biosciences, Glen Industries, Smarten Power Systems, Travel Food Services, Chemkart India.

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