Glass Wall Systems (India) Limited
GLASSWALL • BSE, NSE
Issue details
Price band
₹172 - ₹182
Lot size
82 shares
Issue size
₹299.52 Cr
Min. investment
₹14,924
Registrar
MUFG Intime India
Subscription
5.76x
Grey market premium
Est. gain+₹62 · 34%
Save your family's PANs once and check allotment for everyone the moment results are out.
Available once allotment results are out
IPO Timeline
Open
8 Sep
Close
10 Sep
Allotment
11 Sep
Listing
16 Sep
- Refunds & demat credit
- 12 Sep 2026
- Mandate end
- 25 Sep 2026
- Anchor lock-in 50%
- 11 Oct 2026
- Anchor lock-in 100%
- 10 Dec 2026
We calculate these dates from the allotment and close dates, so please treat them as indicative. Anchor lock-in applies only to issues with an anchor allotment.
Application size
| Category | Minimum | Maximum |
|---|---|---|
| RII | 82shares 1 lot · ₹14,924 | 1,066shares 13 lots · ₹1,94,012 |
| sNII (₹2L–₹10L) | 1,148shares 14 lots · ₹2,08,936 | 5,494shares 67 lots · ₹9,99,908 |
| bNII (above ₹10L) | 5,576shares 68 lots · ₹10,14,832 | No limit funds permitting |
Based on the upper price band of ₹182 and a lot of 82 shares.
Subscription
| Quota | Shares offered | Shares bid | Subscribed |
|---|---|---|---|
| QIB | 47,02,085 | 1,75,070 | 0.04x |
| NII | 35,26,564 | 3,36,17,868 | 9.53x |
| sNII (₹2L–₹10L) | 23,51,043 | 1,71,30,456 | 7.29x |
| bNII (above ₹10L) | 11,75,521 | 1,64,87,412 | 14.03x |
| Retail (IND) | 82,28,649 | 6,10,25,466 | 7.42x |
| Total | 1,64,57,298 | 9,48,18,404 | 5.76x |
Last updated 4 hours ago.
Issue structure
Face value
₹2 per share
Issue type
Bookbuilding IPO
Sale type
Fresh capital cum OFS
Fresh issue
₹60 Cr
32,96,703 shares
Offer for sale
₹368 Cr
2,02,13,722 shares
Shares pre-issue
8,46,38,550
Shares post-issue
8,79,35,253
Valuation & ratios
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | 9.9 | 9.53 |
| P/E | 18.38 | 19.1 |
| Market cap | ₹1,540Cr. | ₹1,600.42 Cr |
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 38.62% | 39.00% |
| ROCE | 43.01% | 43.39% |
| Debt/Equity | 0.03 | 0.05 |
| RoNW | 32.03% | 32.72% |
| PAT Margin | 18.34% | 20.66% |
| EBITDA Margin | 23.02% | 26.23% |
| NAV | 30.91 | 20.22 |
| Price to Book Value | 5.89 | 9.00 |
Financials
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total income | 471.43 | 288.14 | 310.26 |
| Profit after tax | 83.79 | 57.51 | 20.25 |
| EBITDA | 105.2 | 73.01 | 54.7 |
| Net worth | 261.58 | 175.75 | 122.6 |
| Assets | 468.38 | 316.63 | 281.76 |
| Reserves & surplus | 242.96 | 158.88 | 101.47 |
| Total borrowing | 6.68 | 8.46 | 24.85 |
Figures in ₹ crore, as reported by the company in its offer document.
Objects of the issue
- 1.Funding capital expenditure requirement for setting up of a glass processing unit (GPU Project) as part of planned backward integration of the Company at Vile Bhagad Facility₹60 Cr
- 2.General Corporate Purposes—
What the company says it intends to do with the money raised.
Recent comparable IPOs
| Company | Issue price | P/E | Listing close | Listing gain |
|---|---|---|---|---|
| Annu Projects Ltd.Mainboard | ₹99 | 14.33 | ₹75.60 | -23.64% |
| Technocraft Ventures Ltd.Mainboard | ₹212 | 14.73 | ₹311.15 | +46.77% |
| Om Power Transmission Ltd.Mainboard | ₹175 | 21.13 | ₹193.38 | +10.50% |
| Solarworld Energy Solutions Ltd.Mainboard | ₹351 | 33.77 | ₹323.50 | -7.83% |
| GK Energy Ltd.Mainboard | ₹153 | 20.29 | ₹167.74 | +9.63% |
| Oneindig Technologies Ltd.SME | ₹96 | 18.53 | ₹126.00 | +31.25% |
| Leapfrog Engineering Services Ltd.SME | ₹23 | 15.19 | ₹23.10 | +0.43% |
| Safety Controls & Devices Ltd.SME | ₹80 | 12.3 | ₹78.99 | -1.26% |
| Srinibas Pradhan Constructions Ltd.SME | ₹98 | 9.15 | ₹104.40 | +6.53% |
| GRE Renew Enertech Ltd.SME | ₹105 | 15.72 | ₹91.20 | -13.14% |
| E to E Transportation Infrastructure Ltd.SME | ₹174 | 15.44 | ₹327.80 | +88.39% |
| Valplast Technologies Ltd.SME | ₹54 | 12.75 | ₹58.63 | +8.57% |
| Chiraharit Ltd.SME | ₹21 | 13.95 | ₹15.96 | -24.00% |
| Telge Projects Ltd.SME | ₹105 | 14.04 | ₹110.45 | +5.19% |
| Karbonsteel Engineering Ltd.SME | ₹159 | 12.47 | ₹194.35 | +22.23% |
Past listing performance of comparable issues. This is not a forecast: listing gains vary widely and can turn negative.
Issue fundamentals compiled from the company's offer document via Chittorgarh, last read 3 Sep 2026. Always verify against the RHP before applying.