Kolkata-based food packaging products maker GLEN Industries will open its Rs 63-crore initial share sale for public subscription on July 8, with price band of Rs 92-97 per share.
The IPO consists of entirely fresh issue of 64.96 lakh shares.
The offer will close on July 10. The IPO share allotment will get finalised by the end of July 11, and the GLEN Industries shares will be available for trading on the BSE SME, effective July 14.
GLEN will utilise IPO proceeds mainly for setting up a new manufacturing facility at Mouza – Jaugram, West Bengal, and the remainder funds for general corporate purpose.
The company, which competes with the sole listed peer Rajshree Polypack, is involved in the manufacturing of food packaging and service products, primarily thin wall food containers, polylactic acid straws and paper straws that are mainly supplied to the food and beverages industry.
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Its financial performance has been healthy in the past years. The profit in the fiscal 2025 grew significantly by 112.9 percent to Rs 18.3 crore, and revenue increased by 18.1 percent to Rs 170.7 crore compared to previous year.
The merchant banker handling the GLEN Industries IPO is GYR Capital Advisors.
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