GLEN Industries's shares soar in market debut
GLEN Industries had a standout first day on the BSE SME platform, with shares opening at ₹157—up nearly 62% from its IPO price of ₹97.
The company raised ₹63 crore, and investor demand was sky-high: the IPO was oversubscribed by over 260 times.
Eco-friendly food packaging
Founded in 2007, GLEN makes eco-friendly food packaging like thin-wall containers and paper straws.
Their products are used by hotels, restaurants, cafes, and beverage companies worldwide—including in Europe, the US, Australia, and more.
Massive interest from investors
The IPO saw massive interest from all types of investors—non-institutional buyers subscribed over 476 times and retail investors over 225 times.
GLEN plans to use the funds to build a new manufacturing plant in West Bengal after reporting strong revenue and profit growth this year.