Glen Industries, a Kolkata-based food packaging manufacturer, closed its IPO on July 10, 2025, with an overwhelming 242.32 times subscription. The IPO will help fund a new manufacturing facility in Jamalpur, West Bengal.
Kolkata-based Glen Industries, a leading manufacturer of food packaging and service products, has witnessed an exceptional response to its initial public offering (IPO), which closed with a massive 242.32 times subscription on July 10.
The IPO opened on July 8 and offered 64.96 lakh fresh equity shares at a price band of Rs 92-97 per share. The issue raised Rs 63.02 crore, with the allotment scheduled for July 11, and the equity shares will debut on the BSE SME platform on July 15.
Investor interest surged across categories—non-institutional investors subscribed 350.72 times their quota, retail investors 225.12 times, and qualified institutional buyers 192.46 times. Overall, 113.81 crore shares were bid against the 46.96 lakh shares on offer, totaling 2.43 lakh applications.
Ahead of the IPO launch, Glen Industries secured Rs 17.46 crore via an anchor book on July 7. Prominent institutional participants included HDFC Bank, Aarth AIF Growth Fund, Nine Alps Trust, Sanshi Funds, Mili Capital Investment Trust, and Swyom India Alpha Fund.
The IPO is entirely a fresh issue, ensuring that all proceeds will directly fund company expansion. Specifically, Rs 47.73 crore will be allocated to establish a new manufacturing facility in Jamalpur, West Bengal, while the remaining funds will go toward general corporate purposes.
Glen Industries produces a wide range of packaging solutions widely used in the food and beverage sector. This IPO is expected to strengthen its manufacturing capabilities and meet growing demand in the Indian packaging market.
