Glass Wall Systems opens IPO at ₹172-₹182, seeks ₹428cr
Glass Wall Systems just opened its IPO, offering shares at ₹172 to ₹182 each and aiming to raise ₹428 crore.
You can subscribe until Thursday, September 10. The shares are set to hit BSE and NSE on September 16.
If you're into market moves or looking for new investment ideas, this one's getting some buzz.
Anchor investors contribute ₹128.36cr
Big names like HDFC Mutual Fund and Kotak Mahindra Life Insurance already chipped in ₹128.36 crore as anchor investors.
The company plans to use fresh funds for a glass-processing unit at its Vile Bhagad facility in Maharashtra, hoping to boost efficiency.
Brokerages like SBI Securities and Anand Rathi are giving it a thumbs up for the long run, pointing out a strong order book and solid growth plans.
At the top price band, the IPO values the company at 19.1 times FY26 earnings, so it's seen as pretty strong in its space.