GLEN Industries IPO Booked 8.77 Times So Far On The Second Bidding Day; Check GMP And Other Details

The IPO of GLEN Industries, a company known for its eco-friendly food packaging and service products, has continued to receive strong investor interest on its second day of bidding, recording 8.77x subscriptions so far by 3 pm on July 9. The public issue, which opened on Tuesday, July 8, and will close on Thursday, July 10 has attracted significant attention from retail and non-institutional investors.

IPO Subscription Status (Day 2):

According to data from chittorgarh.com, the retail investor segment is booked at 13.18 times, and the Non-Institutional Investors (NII) portion stood at 9.49 times. Meanwhile, Qualified Institutional Buyers (QIBs) oversubscribed their portion by 1.62 times. In total, GLEN Industries received bids for 3,83,46,00 shares against 43,71,600 shares available.

GLEN Industries IPO GMP:

As of today, the grey market premium (GMP) for GLEN Industries IPO is Rs 30, according to investorgain.com. This means investors are willing to pay Rs 30 more than the highest IPO price of Rs 97. Based on this, the estimated listing price of the shares could be around Rs 127, which is about 30.93% higher than the issue price.

The grey market premium (GMP) reflects the extra amount investors are ready to pay for the shares before they are officially listed on the stock exchange.

GLEN Industries IPO Details:

GLEN Industries is raising Rs 63.02 crore through its IPO. The entire issue consists of a fresh offer of 64.97 lakh new shares. The share allotment is expected to be finalized on Friday, July 11, 2025, and the company is likely to be listed on the BSE SME platform on Tuesday, July 15, 2025.

The IPO price band is set between Rs 92 and Rs 97 per share. Each share has a face value of Rs 10. To apply for the IPO, investors need to buy a minimum of 1,200 shares. If they want to buy more, it has to be in multiples of 1,200 shares. GLEN Industries has also reserved 1,53,600 shares for its employees, offering them a Rs 5 discount per share.

The lead manager for the IPO is GYR Capital Advisors Private Limited, the registrar is Kfin Technologies Limited, and the market maker is Giriraj Stock Broking Private Limited.

GLEN Industries IPO raises Rs 17.46 crore from anchor investors on July 7 from 12 anchor investors ahead of the IPO.

The IPO proceeds will be used for Setting Up a new manufacturing facility in West Bengal and for general corporate purpose.

About GLEN Industries:

GLEN Industries Limited is a company that produces eco-friendly food packaging and service products. Some of its main items include thin-wall food containers and compostable straws. These products are supplied to various industries such as hotels, restaurants, cafés, catering services (HoReCa), as well as the beverage and food packaging sectors.

To handle growing demand, the company has built a large 90,000 sq. ft. manufacturing facility in Dhulagarh, equipped with advanced machines and trained staff. GLEN Industries also exports its products to many countries, including those in Europe, the USA, Australia, the Middle East, and Africa, customizing its offerings to suit local needs.

According to the company's red herring prospectus (RHP), its only listed competitor is Rajshree Polypack Ltd, which has a price-to-earnings (P/E) ratio of 24.94.