GLEN Industries IPO Lists at 61.86% Premium After Record-Breaking Subscription

The eco-friendly food packaging manufacturer, GLEN Industries Limited, made a stellar debut on the BSE SME platform on July 15, 2025. After closing its IPO bidding between July 8 - July 10, 2025, the company commenced trading with an impressive 61.86% premium to its issue price, delivering exceptional returns to investors backed by overwhelming subscription response in the sustainable packaging sector.

GLEN Industries Listing Details

GLEN Industries Limited launched its IPO at ₹97 per share with minimum investment of 2,400 shares costing ₹2,32,800. The IPO received phenomenal response with subscription of 260.28 times - NII segment leading at extraordinary 476.25 times, retail investors at 225.15 times, and QIB at 192.46 times, whilst employee participation remained low at 0.36 times, reflecting exceptional market appetite for sustainable packaging companies.

Listing Price: The GLEN Industries share price opened at ₹157 on BSE SME, representing a premium of 61.86% from the issue price of ₹97, delivering outstanding gains of approximately ₹1,44,000 per lot for allotted investors and demonstrating strong investor confidence in eco-friendly packaging solutions.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

First-Day Trading Performance Outlook

GLEN Industries delivered exceptional debut performance with substantial premium reflecting strong investor confidence in sustainable packaging companies with established market positions. The company, incorporated in 2007, specialises in manufacturing thin-wall food containers and compostable straws serving HoReCa sectors, beverage industry, and food packaging with new 90,000 sq. ft. facility in Dhulagarh, exporting to Europe, USA, Australia, Middle East, and Africa with 306 employees and 25+ loyal customers.

Growth Drivers and Challenges

Growth Drivers:

• Growing Sustainable Packaging Demand: Positioned to benefit from increasing environmental consciousness and regulatory push towards eco-friendly packaging solutions driving demand for compostable products
• Diversified Product Portfolio: Comprehensive range of thin-wall containers and compostable straws with production capacity of 665 MT/month for containers and 255 MT/month for straws
• Global Export Presence: Established international footprint across Europe, USA, Australia, Middle East, and Africa ensuring revenue diversification and growth opportunities
• Strong Financial Performance: Revenue growth of 18% and exceptional PAT growth of 113% in FY25 with healthy EBITDA margin of 23.60% demonstrating operational efficiency

Challenges:

• High Debt Burden: Significant debt-to-equity ratio of 2.28 with total borrowings of ₹132.83 crore raising concerns about financial leverage and interest costs
• Competitive Market Dynamics: Operating in fragmented packaging industry with established players requiring continuous innovation and cost management
• Working Capital Intensive: Manufacturing business requiring substantial inventory and receivables management affecting cash flow dynamics
• Low Employee Participation: Minimal employee subscription at 0.36 times suggests limited internal confidence despite strong market response

Utilisation of IPO Proceeds

New Manufacturing Facility: ₹47.73 crore for establishing manufacturing facility at Purba Bardhaman, West Bengal to enhance production capacity and operational capabilities 

General Corporate Purposes: Remaining funds for strategic initiatives and operational requirements supporting business expansion and working capital needs

Financial Performance of GLEN Industries

Revenue: ₹171.28 crore for FY25, showing solid 18% growth from ₹145.22 crore in FY24, reflecting strong demand for eco-friendly packaging solutions and operational expansion.

Net Profit: ₹18.27 crore in FY25, demonstrating exceptional 113% growth from ₹8.58 crore in FY24, with remarkable improvement in profitability margins and operational efficiency.

Financial Metrics: Strong RoNW of 45.43%, moderate ROCE of 16.94%, high debt-to-equity of 2.28, healthy PAT margin of 10.70%, robust EBITDA margin of 23.60%, and market capitalisation of ₹233.40 crore.

GLEN Industries represents an attractive investment opportunity in the sustainable packaging sector with exceptional listing performance delivering 61.86% premium backed by record-breaking subscription response of 260.28 times. Despite concerns over high debt levels and competitive market dynamics, the company's eco-friendly product portfolio, established global presence, and strong financial performance provide significant growth potential in the expanding sustainable packaging market, validating extraordinary investor confidence reflected in the outstanding subscription and listing performance.