Glass Wall Systems (India) Limited
MainboardGLASSWALL • 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
56.59x
Grey market premium
Est. gain+₹41 · 23%
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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 |
|---|---|---|---|
| Retail (IND) | 82,28,649 | 18,97,63,744 | 23.06x |
| Total | 1,64,57,298 | 93,13,94,048 | 56.59x |
Last updated 50 days 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 | ₹1,540.42 Cr. | ₹1,889.29 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₹50 Cr
- 2.General Corporate Purposes₹4.63 Cr
- 3.Issue Expenses₹38.64 Cr
What the company says it intends to do with the money raised.
Recent comparable IPOs
| Company | Issue price | P/E | Listing close | Listing gain |
|---|---|---|---|---|
| Teamtech Formwork Solutions Ltd.SME | ₹63 | 11.97 | ₹72.75 | +15.48% |
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 27 Sep 2026. Always verify against the RHP before applying.