Mumbai-based Glass Wall Systems files draft IPO papers with Sebi
Proceeds from the fresh issue will be used to fund capital expenditure of Rs 50 crore for setting up a glass processing unit at the company's Vile Bhagad, Maharashtra facility, as part of its backward integration project.
- Sep 8, 2025,
- Updated Sep 8, 2025 3:31 PM IST
Mumbai-based Glass Wall Systems (India) Ltd has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to launch an initial public offering (IPO).
The IPO consists of a fresh issue of equity shares worth Rs 60 crore and an offer-for-sale (OFS) of up to 40,234,552 shares by promoters Jawahar Hariram Hemrajani, Eshan Jawahar Hemrajani, Amit Jawahar Hemrajani and Vinne Jawahar Hemrajani, along with investors India Business Excellence Fund IIA and Vistra ITCL (India) Ltd. A portion of the issue will be reserved for eligible employees, who will also receive a discount.
Proceeds from the fresh issue will be used to fund capital expenditure of Rs 50 crore for setting up a glass processing unit at the company's Vile Bhagad, Maharashtra facility, as part of its backward integration project. The balance will be utilised for general corporate purposes. The IPO will be managed through the book-building process, with up to 50 per cent of the net offer allocated to qualified institutional buyers, up to 15 per cent to non-institutional bidders and up to 35 per cent to retail investors.
For FY25, the company reported revenue from operations of Rs 244.7 crore, compared with Rs 240.5 crore in FY23. Revenue from overseas operations rose to Rs 114.7 crore in FY25 from Rs 15.6 crore in FY23. Net profit increased to Rs 43.8 crore in FY25 from Rs 16.1 crore in FY23.
As of August 31, 2025, the company had an order book of Rs 421.9 crore in domestic façade solutions, Rs 135.4 crore in international supply and Rs 67.3 crore in its fenestration business under Yes Systems.
IIFL Capital and Motilal Oswal Investment Advisors are the book-running lead managers for the IPO, while MUFG Intime India is the registrar. The shares are proposed to be listed on the BSE and NSE.
Glass Wall Systems is a façade solutions and fenestration provider with operations in India, the US and Australia. The company has executed more than 150 projects across two decades, including landmark works such as The Capital, Kohinoor Square, Bagmane Rio and Lodha World One.
Mumbai-based Glass Wall Systems (India) Ltd has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to launch an initial public offering (IPO).
The IPO consists of a fresh issue of equity shares worth Rs 60 crore and an offer-for-sale (OFS) of up to 40,234,552 shares by promoters Jawahar Hariram Hemrajani, Eshan Jawahar Hemrajani, Amit Jawahar Hemrajani and Vinne Jawahar Hemrajani, along with investors India Business Excellence Fund IIA and Vistra ITCL (India) Ltd. A portion of the issue will be reserved for eligible employees, who will also receive a discount.
Proceeds from the fresh issue will be used to fund capital expenditure of Rs 50 crore for setting up a glass processing unit at the company's Vile Bhagad, Maharashtra facility, as part of its backward integration project. The balance will be utilised for general corporate purposes. The IPO will be managed through the book-building process, with up to 50 per cent of the net offer allocated to qualified institutional buyers, up to 15 per cent to non-institutional bidders and up to 35 per cent to retail investors.
For FY25, the company reported revenue from operations of Rs 244.7 crore, compared with Rs 240.5 crore in FY23. Revenue from overseas operations rose to Rs 114.7 crore in FY25 from Rs 15.6 crore in FY23. Net profit increased to Rs 43.8 crore in FY25 from Rs 16.1 crore in FY23.
As of August 31, 2025, the company had an order book of Rs 421.9 crore in domestic façade solutions, Rs 135.4 crore in international supply and Rs 67.3 crore in its fenestration business under Yes Systems.
IIFL Capital and Motilal Oswal Investment Advisors are the book-running lead managers for the IPO, while MUFG Intime India is the registrar. The shares are proposed to be listed on the BSE and NSE.
Glass Wall Systems is a façade solutions and fenestration provider with operations in India, the US and Australia. The company has executed more than 150 projects across two decades, including landmark works such as The Capital, Kohinoor Square, Bagmane Rio and Lodha World One.