Glen Industries IPO Day 3: Subscription Status, GMP, Key Dates and All You Need to Know

The Initial Public Offering (IPO) of Glen Industries Ltd, which entered its final day on Wednesday, has drawn strong demand across all investor categories, with retail and non-institutional buyers leading the momentum. The Rs 63-crore public issue opened for bidding on 8 July 2025 and will close on 10 July 2025.

Glen Industries IPO: Subscription status

Glen Industries’ IPO witnessed an overwhelming response on its final day, with the issue being subscribed 82.95 times, according to data from a market tracking website. The retail segment saw a particularly strong turnout, clocking in at 92.25 times subscription, while the non-institutional investor (NII) portion was booked a staggering 173.68 times. The Qualified Institutional Buyers (QIBs) category was subscribed 9 times, and the employee quota saw a modest response at 23%, as per the same website.  By 1:04 PM on Day 3 of bidding, the company had received applications for 36.26 crore shares against just 43.71 lakh shares available, reflecting strong investor confidence in the offering.

Glen Industries IPO: Price Band

Glen Industries is offering its shares in a price band of Rs 92 to Rs 97 per share, with a minimum lot size of 1,200 shares. . The minimum application size is 1,200 shares, with a retail investment of Rs 2,20,800 for two lots. High-net-worth investors are required to invest in a minimum of three lots (3,600 shares), amounting to Rs 3,49,200. 

Glen Industries IPO: Grey Market Premium

As of 11:35 AM on July 10, 2025, the grey market premium (GMP) for Glen Industries’ SME IPO stood at Rs 40, indicating an estimated listing price of Rs 137 — a potential gain of 41.24% over the issue’s upper price band of ₹97.

Glen Industries IPO: Usage of proceeds

The company had revealed that the funds raised through the IPO will primarily go towards setting up a new manufacturing unit in Purba Bardhaman, West Bengal. The remainder will be used for general corporate purposes.

Glen Industries IPO: Key dates to watch out 

All eyes are now on the allotment process, which is expected to be finalized on July 11. Refunds and demat credits are likely to be processed by July 14, with Glen Industries slated to list on the BSE SME platform on July 15.

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About the company

Headquartered in Kolkata, Glen Industries was founded in 2007 and has carved a niche in the manufacturing of sustainable food-grade packaging. Its product range includes thin-wall containers and biodegradable straws. With exports to over 25 countries, the company serves clients both in India and overseas.