Glass Wall Systems (India) Ltd is set to launch its ₹428-crore initial public offering, with the IPO opening for public subscription on September 8 and closing on September 10. Anchor investor bids are scheduled for September 7. The company has set a price band of ₹172 to ₹182 per equity share.
The offer comprises a fresh issue of shares worth up to ₹60 crore and an Offer for Sale (OFS) of 2.02 crore equity shares. Sources also report that promoters Jawahar Hariram Hemrajani and Eshan Jawahar Hemrajani, along with investor shareholder India Business Excellence Fund IIA, will sell shares through the OFS. Proceeds from the fresh issue include ₹50 crore to set up a glass processing unit at the firm’s Vile Bhagad facility in Maharashtra, as part of backward integration, with the remainder allocated for general corporate purposes.
All outlets also note the expected listing timeline. The shares are scheduled to list on BSE and NSE on September 16. Motilal Oswal Investment Advisors and IIFL Capital are reported as book-running lead managers, and MUFG Intime India is the registrar to the issue.
