GLEN Industries SME: Check IPO Date, Live Subscription and Key Details
GLEN Industries Limited, established in 2007 (initially as Glen Stationery Private Limited), has evolved into a manufacturer of eco-friendly food packaging and service products. The company primarily produces Thin Wall Food Containers and compostable straws, including Polylactic Acid (PLA) Straws and Paper Straws. These products are supplied mainly to the Hotels, Restaurants, Cafés/Catering (HoReCa) sector, the beverage industry, and quick service restaurants (QSRs). GLEN Industries operates a manufacturing plant in Howrah, West Bengal, spanning 90,000 square feet, with a manufacturing capacity of 665 MT per month for Thin Wall Food Containers and 40.60 MT/month for PLA straws.
Min Investment
₹116400
Price Range
₹92.00-97.00
Issue Size
₹59.86 Cr
IPO Type
BSE SME
Key Metrics
Check Live GMP
Face Value
₹10
EPS
7.59
P/E Ratio
12.78
RoNW
45.43%
ROE
16.94%
Debt to Equity
3.3
Timeline
IPO Opens
8 Jul
IPO Closes
10 Jul
Allotment
11 Jul
Listing
15 Jul
IPO Objectives
- Setting Up a new manufacturing facility at Purba Bardhaman, PS – Jamalpur, Gram Panchayat: Jougram, Mouza – Jaugram, JL no 114, West Bengal 713166.
- General Corporate Purpose.
Strengths
- Established relationships with customers in both domestic and international markets, evidenced by regular and repeated business from over 25 global customers.
- Advanced in-house processing facilities with cutting-edge, automated machinery from Japan, Taiwan, and China, ensuring high-quality, hygienic (zero human-contact production), and cost-competitive manufacturing of food packaging.
- Commitment to eco-friendly products, including PLA and paper straws (FSC-certified), aligning with growing global demand for sustainable packaging and benefiting from government bans on single-use plastics.
- Customization capabilities to design goods as per clients' specifications, offering digital printing, shrink sleeving, and other bespoke solutions.
- Experienced promoters and management team with deep industry knowledge, driving strategic diversification and growth.
Weaknesses
- High debt levels: The company has substantial borrowings (₹132.83 crore as of March 31, 2025) and a high Debt-to-Equity ratio of 3.30, indicating significant financial leverage and potential impact on profitability due to interest expenses.
- Impact of crude oil price fluctuations: The business is significantly impacted by the volatility of crude oil prices, as plastic is a key raw material for thin-wall food containers, which can lead to surging raw material costs.
- Intra-group competition risk: GLEN Paper Products Pvt Ltd, a significantly owned subsidiary, operates in the same industry and directly competes with the company. The lack of non-compete clauses could lead to uninhibited promoter bias towards the subsidiary, potentially impacting GLEN Industries' competitiveness.
- Significant capital expenditure requirements for setting up new manufacturing facilities may involve operational and financial challenges that could impact profitability if not executed efficiently.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 214.36 | 160.31 | 137.07 | 117.11 |
| Revenue (₹ Cr.) | 171.28 | 145.22 | 119.59 | 96.71 |
| PAT (₹ Cr.) | 18.27 | 8.58 | 1.49 | 3.85 |
| Net Worth (₹ Cr.) | 40.21 | 26.65 | 18.07 | 14.22 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| GLEN Industries Limited | 0.22 | 12.78 | 39.72 | 16.94 |
| Rajshree Polypack Limited | 1.25 | 24.91 | 4.93 | 153 |
Subscription Details
Daily Bids Status
| Date | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00x | 1.62x | 192.46x |
| NII | 2.19x | 14.21x | 476.05x |
| RII | 2.24x | 18.37x | 223.67x |
| EMP | 0.14x | 0.20x | 0.36x |
| Total | 1.54x | 12.25x | 259.52x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 12,04,800 | 23,18,71,200 | 2,249.15 |
| NII | 9,06,000 | 43,13,01,600 | 4,183.63 |
| Small NII | 3,01,200 | 7,54,89,600 | 732.25 |
| Big NII | 6,04,800 | 35,61,37,200 | 3,454.53 |
| RII | 21,07,200 | 47,13,09,600 | 4,571.70 |
| EMP | 1,53,600 | 55,200 | 0.54 |
| Total | 43,71,600 | 1,13,45,37,600 | 11,005.01 |
Company Details
- Rajveena, 2nd Floor, 50A, Block-C, New Alipore, Kolkata, West Bengal-700053, India
- +91 9831087598
- info@glen-india.com
- http://www.glen-india.com/
Registrar Details
- Kfin Technologies Limited
- 04067162222, 04079611000
- gil.ipo@kfintech.com
- https://kosmic.kfintech.com/ipostatus/