Glen Industries' Rs 63-crore SME IPO opens July 8; check key details here

Glen Industries Ltd, a key player in sustainable packaging solutions, is set to launch its Rs 63 crore SME initial public offering (IPO) on July 8, with the subscription window closing on July 10. The company, known for manufacturing plastic food containers and compostable straws, plans to utilise the capital to fuel its next phase of growth.

The IPO comprises a fresh issue of equity shares, with Rs 47.73 crore allocated toward setting up a new manufacturing facility. The remaining proceeds will be used to cover IPO expenses and general corporate needs.

"Our new facility is central to our expansion strategy. We've structured the fundraising with minimal equity dilution to protect long-term shareholder value," said Lalit Agrawal, Promoter, Chairman & Managing Director, Glen Industries.

The issue is priced between Rs 92–97 per share, with a minimum application size of 1,200 shares — translating to an investment of around Rs 2.3 lakh. A total of 1.53 lakh shares have been reserved for employees at a Rs 5 discount per share, encouraging internal participation in the company's future.

Glen Industries aims to achieve Rs 500 crore in revenue post-commissioning of its new facility by FY26, with a longer-term goal of Rs 1,000 crore by 2030. Around half of this is expected from exports, which already span over 19 countries including the US, UK, Australia, Europe and the Middle East.

The company's clientele includes brands like Coca-Cola, Dabur, ITC, Amul, Parle Agro, Haldiram Prabhuji and Licious. No single client contributes more than 7 per cent of total revenues, indicating a diversified and de-risked business model.

Led by GYR Capital Advisors, with Giriraj Stock Broking as market maker, Glen's IPO reflects the company's strategic intent to capitalise on the growing demand for sustainable, food-grade packaging globally, amid a packaging sector expanding at over 10 per cent CAGR (Compounded Annual Growth Rate).