Glen Industries IPO Day 3 update: Subscription rises 41x, GMP at 36%

The unlisted shares of Glen Industries were trading at ₹132, commanding a GMP of ₹35 or 36.08 per cent compared to the upper end of the price band of ₹92 to ₹97

Glen Industries IPO Day 3 subscription status: The initial public offering (IPO) of food packaging products maker Glen Industries is set to conclude today, July 10. The SME offering is a bookbuilding issue comprising a fresh issue of 6.49 million equity shares. There is no offer for sale (OFS) component. 

 

The public issue of Glenmark Industries has received a solid response from investors so far. As of 11:45 AM on Thursday, the IPO has been oversubscribed over 41.5 times, receiving bids for 195 million equity shares compared to 4.69 million shares on offer. 

 

The demand was led by non-institutional investors (NIIs) and retail investors, who oversubscribed to the portion reserved for them by 60 times and 56 times, respectively. However, the portion reserved for qualified institutional buyers (QIBs) was booked only 1.69 times.

Glen Industries IPO GMP

On Thursday, the unlisted shares of Glen Industries were trading at ₹132 in the grey market, commanding a premium of ₹35 or 36.08 per cent compared to the upper end of the price band of ₹92 to ₹97. 

Glen Industries IPO details

The company has set the lot size of 1,200 shares. A retail investor would require a minimum investment amount of ₹2,32,800 to bid for two lots at the upper price band. 

 

The basis of allotment of shares is expected to be finalised on Friday, July 11, 2025. Shares will be credited into the demat accounts of respective allottees on Monday, July 14, 2025. Shares of Glen Industries are scheduled to make their debut on the BSE SME platform on July 15, 2025. 

 

Kfin Technologies is the registrar of the issue. GYR Capital Advisors is the book-running lead manager of the Glen Industries IPO.

 

The company intends to utilise the net issue proceeds for setting up a new manufacturing facility at Purba Bardhaman in West Bengal. The remaining funds will be used for general corporate purposes. 

About Glen Industries

Incorporated in 2007, Glen Industries is engaged in the manufacturing of eco-friendly food packaging and service products. The company specialises in producing thin-wall food containers and compostable straws. It caters to various sectors such as hotels, restaurants, and Catering (HoReCa), the beverage industry and food packaging.