The IPO was priced at Rs 97 per share, and the company raised Rs 17.46 crore from anchor investors ahead of the offer. The strong demand came primarily from non-institutional investors (NIIs), whose quota was booked 476.25 times, followed by 225.15 times in the retail category and 192.46 times from qualified institutional buyers (QIBs).
In the grey market, the IPO is currently commanding a GMP of Rs 49, suggesting a likely listing premium of around 51% over the issue price.
What the company does
Incorporated in 2007, GLEN Industries manufactures eco-friendly food packaging and service products. Its main products include thin-wall food containers and compostable straws, catering to the food and beverage industry both domestically and globally. It exports to markets such as Europe, the US, Australia, the Middle East, and Africa.
The company recently expanded operations with a new 90,000 sq ft facility in West Bengal to meet growing demand.
Financial performance
GLEN posted a 113% YoY jump in net profit to Rs 18.27 crore for FY25, while EBITDA rose to Rs 40.43 crore, up from Rs 24.87 crore in the previous year. Its EBITDA margin stands at 23.6%, and the return on net worth (RoNW) is 45.43%, reflecting strong operating leverage.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
