Glen Industries share price: Stock lists at 62% premium; here's how much investors gained

Glen Industries share price: Shares of Glen Industries debuted on the SME platform of the BSE at ₹157 on Tuesday, July 15. This reflects a premium of 61.86% or ₹60 over the IPO issue price of ₹97 per share.

The food packaging products maker had launched its initial public offer to raise ₹63.02 crore via the fresh issuance of 64.97 lakh shares. There was no offer for sale (OFS) component.

Glen Industries IPO: Here's how much investors gained

The issue proceeds to the tune of ₹47.73 crore will be utilised to establish a manufacturing plant, and the remaining funds will be used to serve general corporate purposes.

The SME IPO was subscribed to 242.32 times during the three-day bidding window, with bids for 1,13,81,12,400 shares, compared to 46,96,800 shares offered.

Glen Industries offers food packaging solutions. Its products include thin-wall food containers, paper straws, and polylactic acid (PLA) straws, which are primarily used in industries such as hotels, cafes, restaurants, food packaging and the beverage industry.

The company also sells its products in international markets like the USA, Europe, Australia, Africa and the Middle East.

Glen Industries had recorded a revenue from operations of ₹170.66 crore in the financial year ended March 2025, reflecting a jump of 18.1% as against ₹144.5 crore in the year-ago fiscal. The company's total income climbed 17.94% year-on-year (YoY) to ₹171.28 crore in FY25.

Its consolidated net profit advanced 113% to ₹18.26 crore in the fiscal year 2024-25, compared to ₹8.57 crore in FY24.

GYR Capital Advisors Pvt Ltd was the issue's only book-running lead manager, while KFin Technologies was the registrar.