Overview

• Retail investors led early bidding by filling 35% of their quota while non-institutional investors covered 22% and qualified institutional buyers have yet to participate
• The issue commands a grey market premium of Rs 25 per share, suggesting an expected listing price of around Rs 122 for Tuesday’s BSE SME debut
• Glen Industries is raising Rs 63 crore through a fresh issue of 64.97 lakh shares priced at Rs 92–97 apiece, with allocations split 50% for QIBs, 35% for retail and 15% for NIIs
• Raised funds will cover a Rs 100 crore expansion in Purba Bardhaman, West Bengal, with Rs 63 crore from equity and a Rs 50 crore term loan
• The new facility is slated to be operational by January 2026 and will nearly triple monthly thin-wall container capacity from 665 to about 2,000 tonnes