Everything You Need to Know About GLEN Industries Ltd IPO

🌱 Company Overview

GLEN Industries, founded in 2007 and based in Kolkata, is a pioneer in eco-friendly food packaging. It manufactures thin-wall food containers, PLA & paper straws, and targets customers in the HoReCa sector, beverages, dairy, and processed foods. With advanced manufacturing facilities in West Bengal, the company exports to over 19 countries, serving clients like Coca‑Cola, Amul, and ITC

📅 IPO Details

• Issue Period: July 8–10, 2025

• Price Band: ₹92–₹97 per share

• Issue Size: ₹63.02 crore (64,96,800 fresh shares)

• Lot Size: 1,200 shares (₹1,10,400 at upper band)

• Employee Discount: ₹5 per share

• Reserved Market-Maker Shares: 3,25,200

• Listing Venue: BSE SME on July 15, 2025

  
  

IPO Timeline:

• Allotment: July 11

• Refunds/Share Credit: July 14

• Listing: July 15

💰 Financial Highlights

• FY25 Revenue: ₹171.3 crore, up 18% YoY

• FY25 Net Profit: ₹18.27 crore, a 113% jump from FY24’s ₹8.58 crore

• FY24 Revenue vs FY23: ₹145.2 crore revenue, ₹8.58 crore PAT

• P/E Multiple: ~9.3× based on FY25 earnings

The company projected ₹500 crore revenues post-new plant (FY26), targeting ₹1,000 crore by 2030

🔍 Use of IPO Funds

• New Manufacturing Facility: ₹47.73 crore

• Remaining Funds: General corporate purposes & IPO expenses

📈 Market Sentiment & GMP

• Anchor Investors: ₹17.46 crore of anchor subscriptions at ₹97/share, including HDFC Bank and key Funds

• Subscription Status: ~21% subscribed within an hour, retail interest 35%, NII 22%, no QIBs yet

• Grey Market Premium: ₹25–26 per share—suggesting a ~26% expected listing gain

✅ Investment Outlook

Strengths:

• Specialization in sustainable packaging with scalable production

• Strong financial performance with robust revenue & profit growth

• Institutional confidence evidenced by anchor book subscription

• Expansion plan aligns with global demand for eco-friendly solutions

Risks:

• SME segment IPOs often volatile; grey market premiums can fluctuate

• Execution risk tied to new facility and scaling efforts

• Competitive industry environment and dependency on raw material costs

📝 Final Verdict

GLEN Industries' IPO appears attractively priced, supported by strong FY25 financials and a 9× earnings multiple. The 26% GMP indicates healthy listing expectations. For investors bullish on the sustainable packaging space and SME growth stories, this IPO merits attention. However, SME IPOs carry inherent volatility, so it’s advisable to proceed with a medium-to-long-term perspective aligned to individual risk appetites.

Information is gathered from various online platform like, samco.in, zerodha.com, moneycontrol.com, reddit.com, business-standard.com, businesstoday.in

Disclaimer: This article is for informational purposes and not investment advice. Please consult a certified financial advisor before making investment decisions.