41% Listing Gains? GLEN Industries IPO Ends Today With 100x Oversubscription; Check GMP & Allotment Date

The SME IPO of GLEN Industries is in the final day of subscription today and has already received overwhelming interest from investors across all categories. By Day 3, the GLEN Industries IPO was subscribed 94.43 times overall with strong demand in the market.

Retail investors showed huge enthusiasm in this SME IPO, with the individual investor category subscribed 100.49 times. The non-institutional investor category saw the highest demand, with a whopping 199.12 times subscription, while the qualified institutional buyer, or the QIB, category was subscribed 17.10 times, according to BSE data as of 1:19 PM on July 10.

GLEN Industries IPO GMP & Listing Estimate

As per the latest grey market update, the GLEN Industries IPO GMP is Rs. 40 as of July 10, 12:31 PM. With that premium and the IPO price band of Rs. 97, the estimated listing price could be Rs. 137, which will provide its investors potential gains of 41.24% upon listing.

Since the issue has been heavily oversubscribed, all eyes are now on the GLEN Industries IPO allotment, which is expected to be finalised tomorrow, July 11. With such a high GMP and strong subscription numbers, GLEN Industries IPO may see a blockbuster debut on the stock exchange on July 15 which is the tentative listing date.

GLEN Industries IPO Details

The GLEN Industries IPO opened for subscription from July 8 to July 10, aiming to raise Rs. 59.86 crore through a fresh issue of shares. The price band for this SME IPO was set between Rs. 92 and Rs. 97 per share, with a face value of Rs. 10 each.
For retail investors, the minimum application size was 2 lots, with each lot comprising 1,200 shares. This means an investor needed to invest a minimum of Rs.232,800 to participate in the IPO.

About GLEN Industries

GLEN Industries Limited is a Howrah-based manufacturer of food packaging and service products, particularly known for its thin-wall food containers and eco-friendly straws made from polylactic acid (PLA) and paper. The company started as Ostern Pvt. Ltd. (OPL) in 1998 with the production of ballpoint pens.

In 2010, OPL diversified into thin-wall food container manufacturing, and GLEN Industries Ltd. was established in 2019, equipped with advanced imported machinery and modern technology.

The company operates from a 90,000-square-foot facility in West Bengal and boasts a monthly production capacity of 665 MT for food containers and 40.6 MT for PLA straws. Its export footprint spans across 25+ countries, with products designed to meet local use standards.