GLEN Industries IPO

About GLEN Industries IPO

GLEN Industries Limited IPO is an IPO of up to 64,96,800 equity shares of face value of ₹ 10 each. It consists of a fresh issue of up to 64,96,800 equity shares. The price band is between ₹92 to ₹97. The lot size is 1200.

The IPO opens on July 8, 2025 and closes on July 10, 2025. The listing date is July 15, 2025. The shares will be allotted on July 11, 2025. The credit of shares to the demat account will take place on July 14, 2025, and the initiation of refunds will take place on July 14, 2025.

Objective of GLEN Industries IPO

• Setting up a new manufacturing facility at Purba Bardhaman, PS – Jamalpur, Gram Panchayat: Jougram, Mouza – Jaugram, JL No. 114, West Bengal – 713166.

• General corporate purposes.

Industry Outlook

Plastic packaging is at the centre of a new era in the Indian packaging industry. Its versatile usage is becoming the foundation for many industries in product packaging. The food packaging industry is one of the largest users of plastics. The demand for rigid plastic packaging in the food industry is witnessing growth, as it is increasingly replacing traditional materials such as paperboard, metals, and glass, owing to its beneficial properties, such as being lightweight and cost-effective. The India Plastic Packaging Market size is estimated at USD 2177 crores in 2024, and is expected to reach USD 2535 crores by 2029, growing at a CAGR of 3.09% during the forecast period (2024-2029). The growth of e-commerce in India is driving demand for various food products. Online retail sales in the country rose significantly from USD 8.7 crores in 2022 and are forecasted to reach USD 17.3 crores by 2027. Growing online retail sales show a rising demand for food packaging in India. Moreover, plastic bottles and containers have gained importance in the food industry due to their ability to provide a longer shelf life for packaged food items.

Company Information

GLEN Industries Limited is engaged in the manufacturing a diverse range of food packaging and service products, primarily thin-wall food containers, polylactic acid (PLA) straws, and paper straws, all supplied mainly to the Hotel, Restaurant, and Café/Catering (HoReCa) sector, the beverage industry, and the food packaging industry. Their extensive product lineup, available in various shapes and sizes, is widely favoured by sectors such as the HoReCa industry, Quick Service Restaurants (QSR), and the food, beverage, and dairy industries. In 2019, they commenced the manufacturing of thin-wall food containers with a production capacity of 195 MT/month. With constant expansion and upgradation, their capacity currently stands at 665 MT/month, operating at full capacity. They also diversified into manufacturing paper straws and PLA straws in 2019, with an initial capacity of 21.75 MT/month and 40.60 MT/month, respectively.

Risks of GLEN Industries IPO

• Operational inefficiencies.
• Economic downturns or fluctuations.
• Changes in regulations or standards, particularly those related to environmental policies, which could impact operations or increase compliance costs.

Anchor Investor Information

The Anchor Investor Bid/ Issue Period shall be on Monday, July 07, 2025*

IPO Registrar and Book Running Lead Managers

Book running lead managers:

GYR Capital Advisors Private Limited

Registrar for the IPO is KFin Technologies Limited

Business Model

The company earns its revenue through manufacturing a diverse range of food packaging and service products, primarily thin-wall food containers, polylactic acid (PLA) straws, and paper straws, all mainly supplied to the Hotel, Restaurant, and Café/Catering (HoReCa) sector, the beverage industry, and the food packaging industry.

Company Growth Trajectory

Their revenues from operations for the period that ended 31 March, fiscals 2025, 2024, and 2023 were ₹170.661 crores, ₹144.500 crores, and ₹118.851 crores respectively. Their EBITDA for the period that ended 31 March, fiscals 2025, 2024, and 2023 was ₹40.430 crores, ₹24.869 crores, and ₹13.891 crores respectively. Their profit after tax for the period ended 31 March, fiscals 2025, 2024, and 2023 was ₹18.266 crores, ₹8.579 crores, and ₹1.485 crores respectively.

Company Market Position

They have been exporting their products regularly to Europe, the USA, Australia, the Middle East, and Africa, to name a few. Their products are designed, developed, and manufactured according to the local use and preferences of each country. Regular and repeated business from over 25 customers over the years speaks volumes about their commitment to quality and consistency.

How To Check Allotment Status of GLEN Industries IPO?

You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar KFin Technologies Limited.

To check the status on the BSE website:

• Visit the BSE website
• Click on “Investor Services” and choose “Application Status Check”
• Choose the issue type — Equity or Debt (Equity in this case)
• Select the Issue Name from the drop-down. The issue name is the company’s name, which is GLEN Industries Limited
• Enter your application number or PAN number
• Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status

Follow these steps to know the allotment status on the registrar’s website:

• Visit the KFin Technologies Limited website
• Choose “Public Issues” from the “Investor Services” drop-down
• Select GLEN Industries Limited from the drop-down
• Enter your PAN number or Application number
• Click on “Submit” to know the allotment status

How to Apply for GLEN Industries IPO?

To apply for this IPO:

• Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section
• Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for
• Step 3: Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange
• Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds
• Step 5: Approve Request: Your funds will be blocked once you approve the mandate request on your UPI