Glass Wall Systems India’s ₹428-cr IPO to open on Sep 8; price band set at ₹172-182
The IPO will open for public subscription on September 8 and close on September 10. The bidding for anchor investors will take place on September 7
Facade solutions company Glass Wall Systems (India) Ltd announced a price band of ₹172-182 per equity share for its ₹428 crore Initial Public Offering (IPO). The IPO will be open for subscription from September 8 to September 10, with anchor investor bidding commencing on September 7. The prospectus includes a fresh issue of up to ₹60 crore in equity shares, as well as an Offer For Sale (OFS) of 2.02 crore shares by promoters and India Business Excellence Fund IIA.
At the higher end of the price band, the total offer is projected to total ₹428 crore. The company plans to invest ₹50 crore from the fresh issue towards establishing a glass processing unit at its Vile Bhagad facility in Maharashtra, with the remainder allocated for general corporate purposes. Established in 2002, Glass Wall Systems (India) is a facade solutions and fenestration provider with a presence in India, the US, and Australia.
The shares are scheduled to be listed on the Bombay Stock Exchange and National Stock Exchange on September 16. Motilal Oswal Investment Advisors and IIFL Capital serve as the book-running lead managers, while MUFG Intime India acts as the registrar. Submissions for the IPO must be made in English as full sentences, and cannot be abusive or personal.
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