GLEN Industries IPO Listing: The shares of Glenn Industries, which produce food containers and straw, got into the SME platform of BSE today. Its IPO had received more than 260 times the overall bid but did not fill the share of the employee. Shares have been issued at a price of ₹ 97 under the IPO. Today it has entered ₹ 157 on BSE i.e. IPO investors got 61.86% listing gains. Share and climb up after listing. It jumped up to the upper circuit of ₹ 164.85 (Glen Industries Share Price) i.e. IPO investors are now 69.95% profit. Employees are in more benefit as they have received every stock at a discount of ₹ 5.
Glen Industries How will the IPO money be spent
Glenn Industries had an IPO of ₹ 63.02 crore open from July 8-10 for subscription. Except the employees, this IPO received a tremendous response from investors from every category investors and overall it was 260.28 times subscribed. It was filled with 192.46 times reserved for qualified Institutional Buyers (QIB), 476.25 times the share of non-institutional investors (NII) and 225.15 times the share of retail investors and 0.36 times the share of 225.15 times and the staff. Under this IPO, 64,96,800 new shares with face value of ₹ 10 have been issued. Out of these shares, ₹ 47.73 crore will be spent on the setup of new manufacturing facility and the rest of the money will be spent on common corporate purposes.
About Glen Industries
Glenn Industries, built in 2007, is in the business of making eco-friendly food packaging and services products. This makes thin food containers and compost worth strings. Its products are used in hotels, restaurants, cafes, beverages and food packaging industry. Its products exports to Europe, USA, Australia, Middle East and Africa as per local needs. Talking about the financial health of the company, it has been strongly strengthened. In FY 2023, it made a net profit of ₹ 1.49 crore, which jumped in the next financial year 2024 to ₹ 8.58 crore and ₹ 18.27 crore in FY 2025. During this period, the company’s revenue increased to ₹ 171.28 crore annually from the compound rate (CAGR) of more than 19% annually.
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