Glen Industries IPO opens for bidding; subscribed 21%, GMP up 25%

Within an hour of opening, the Glen Industries IPO received bids of 9,99,600 shares against 4.69 million shares on offer, a subscription of 21 per cent

Glen Industries IPO: The initial public offering (IPO) of food packaging products maker GLEN Industries has opened for public subscription today, July 8, 2025. The SME offering, valued at ₹63.02 crore, comprises a fresh issue of 6.49 million equity shares. There is no offer for sale (OFS) component. 

 

The issue is receiving a decent response from investors on the first day of subscription. Within an hour of opening, the issue received bids of 9,99,600 shares against 4.69 million shares on offer, a subscription of 21 per cent as of 11 AM, showed BSE website. The demand was led by retail investors, who subscribed to the alloted portion by 35 per cent, followed by non-institutional investors (NIIs) at 22 per cent. However, the issue has not received any bids from qualified institutional buyers (QIBs) yet. 

 

Glen Industries IPO price band, lot size

The company has set the price band in the range of ₹92 to ₹97 per equity share. The lot size has been fixed at ₹1,200. A retail investor can bid for a minimum of two lots or 2,400 shares for ₹2,32,800 at the upper price band. The minimum investment amount required by the high net-worth individuals (HNIs) is ₹3,49,200 to bid for 3 lots or 3,600 shares. 

Glen Industries IPO key dates

According to the red herring prospectus (RHP), the public issue will close for bidding on Thursday, July 10. The basis of allotment of shares is expected to be finalised on Friday, July 11, 2025. Shares of Glen Industries will list on the BSE SME platform tentatively on Tuesday, July 15, 2025. 

Glen Industries IPO grey market premium (GMP)

According to the sources tracking unofficial markets, the unlisted shares of Glen Industries were commanding a grey market premium (GMP) of ₹25 or 25.77 per cent. This indicates an estimated listing price of ₹122 against the upper band price of ₹97. 

Glen Industries registrar, lead manager

Kfin Technologies is the registrar for the issue. GYR Capital Advisors is the book-running lead manager. 

Glen Industries IPO objective

According to the RHP, the company intends to use ₹47.7 crore from the net issue proceeds for setting up a new manufacturing facility at Purba Bardhaman in Jougram of West Bengal. The remaining funds will be used for general corporate purposes.  

About Glen Industries 

Incorporated in 2007, Glen Industries is involved in the manufacturing of eco-friendly food packaging and service products.

It specialises in the manufacturing of thin-wall food containers, polylactic acid (PLA) straws and paper straws, all mainly supplied to the hotel, restaurant, catering (HoReCa) sector, beverage industry and food packaging industry. The company operates an advanced manufacturing facility in Dhulagarh, Howrah, West Bengal, spanning nearly 90,000 square feet.