Glass Wall Systems (India) IPO subscribed 2.52 times

The offer received bids for 4.15 crore shares as against 1.64 crore shares on offer.

The initial public offer of Glass Wall Systems (India) received bids for 4,15,12,910 shares as against 1,64,57,298 shares on offer, according to stock exchange data at 17:00 IST on 8 September 2026. The issue was subscribed 2.52 times.

The issue opened for bidding on 8 September 2026 and will close on 10 September 2026. The price band of the IPO is fixed between Rs 172 and 182 per share. An investor can bid for a minimum of 82 equity shares and multiples thereof.

The offer comprises a fresh issue of equity shares of Rs 2 each, aggregating to Rs 60 crore and an offer for sale of 20213722 equity shares. The offer for sale component consists of the sale of 14943048 equity shares by India Business Excellence Fund IIA, an investor selling shareholder and the balance of 5270674 equity shares by promoters.

Of the net proceeds from the fresh issue, the company intends to use Rs 50 crore to fund capital expenditure requirements for setting up the GPU project as part of the planned backward integration of the company at its Vile Bhagad facility and balance towards general corporate purposes.

Glass Wall Systems (India) is a fa?ade and fenestration solutions provider catering to real estate developers, hospitals, airport authorities, contractors and corporate clients in India, as well as customers in the USA and Australia. The company offers customized fa?ade, curtain wall, skylight, canopy, rain screen cladding, aluminium doors and windows, and other architectural solutions across three verticals?domestic fa?ade solutions, international fa?ade product supply and fenestration solutions. It has completed 158 projects and had an order book of Rs 981.55 crore as of March 31, 2026. The company operates a manufacturing facility at Vile Bhagad, Maharashtra, with a capacity of 130 panels per day, and is setting up an in-house glass processing unit to support backward integration.

Ahead of the IPO, Glass Wall Systems (India) on Monday, 8 August 2026, raised Rs 128.36 crore from anchor investors. The board allotted 70.35 lakh shares at Rs 182 each to 15 anchor investors.

The firm reported a consolidated net profit of Rs 83.79 crore and sales of Rs 456.97 crore for the twelve months ended on 31 March 2026.

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