Glen Industries IPO opens tomorrow, company sets price band
What's the story
Glen Industries, a Kolkata-based company, has announced the price band for its upcoming Initial Public Offering (IPO). The company has set the price band at ₹92-97 per share for its ₹63.02 crore initial share sale. The public issue will open for subscription on July 8 and close on July 10. Glen Industries plans to list its shares on the SME platform of BSE after the IPO process is complete.
Equity details
Fresh issue of up to 64.97 lakh equity shares
The public issue from Glen Industries is entirely a fresh issue of up to 64.97 lakh equity shares. The proceeds from this IPO will be used to set up a new manufacturing facility in Purba Bardhaman, West Bengal, and for general corporate purposes. The company was incorporated in 2007 and is engaged in eco-friendly food packaging and service products.
Business operations
Revenue of ₹170.66 crore in FY25
Glen Industries specializes in thin-wall food containers and compostable straws. Its products cater to the HoReCa (hotels, restaurants, cafes/catering), beverage, and food packaging sectors. The company exports its products to Europe, the US, Australia, as well as the Middle East and Africa. In FY25, Glen Industries reported a revenue of ₹170.66 crore with a profit after tax of ₹18.27 crore.