Glass Wall Systems (India) IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Live
Dates
Sep 08 to Sep 10 2026
Price Band
₹172 - 182
Current GMP
₹62 (34.07%)
Subscription
8.23 times
IPO Details
| IPO Date | 8 to 10 Sep, 2026 |
| Listing Date | Wed, Sep 16, 2026 |
| Face Value | ₹ 2 per share |
| Price Band | ₹172 to ₹182 |
| Issue Price | ₹182 per share |
| Lot Size | 82 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,35,10,425 shares (agg. up to ₹ 428 Cr) |
| Fresh Issue | 32,96,703 shares (agg. up to ₹ 60 Cr) |
| Offer for Sale | 2,02,13,722 shares of ₹ 2 (agg. up to ₹ 368 Cr) |
| Share Holding Pre Issue | 8,46,38,550 shares |
| Share Holding Post Issue | 8,79,35,253 shares |
IPO Date
8 to 10 Sep, 2026
Listing Date
Wed, Sep 16, 2026
Face Value
₹ 2 per share
Price Band
₹172 to ₹182
Issue Price
₹182 per share
Lot Size
82 Shares
Sale Type
Fresh capital cum OFS
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Total Issue Size
2,35,10,425 shares (agg. up to ₹ 428 Cr)
Fresh Issue
32,96,703 shares (agg. up to ₹ 60 Cr)
Offer for Sale
2,02,13,722 shares of ₹ 2 (agg. up to ₹ 368 Cr)
Share Holding Pre Issue
8,46,38,550 shares
Share Holding Post Issue
8,79,35,253 shares
IPO Subscription Details
| Anchor | 1 |
| QIB (Ex Anchor) | 0.30 |
| NII | 12.41 |
| bNII (> ₹10L) | 9.16 |
| sNII (< ₹10L) | 18.91 |
| Retail | 10.96 |
| Total ** | 8.23 |
Anchor
1
QIB (Ex Anchor)
0.30
NII
12.41
bNII (> ₹10L)
9.16
sNII (< ₹10L)
18.91
Retail
10.96
Total **
8.23
Day Wise Sub
| Day | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Sep 8 (Day 1) | 0.01 | 3.03 | 2.05 | 5.00 | 3.82 | 2.56 |
| Sep 9 (Day 2) | 0.30 | 12.41 | 9.16 | 18.91 | 10.96 | 8.23 |
DaySep 8
(Day 1)
QIB (Ex Anchor)0.01
NII3.03
NII (> ₹10L)2.05
NII (< ₹10L)5.00
Retail3.82
Total2.56
DaySep 9
(Day 2)
QIB (Ex Anchor)0.30
NII12.41
NII (> ₹10L)9.16
NII (< ₹10L)18.91
Retail10.96
Total8.23
Day Wise GMP
| GMP Date | IPO Price | GMP | Est. Listing Price |
|---|---|---|---|
| 09-09-2026 | 182 | 62 (34.07%) | 244 |
| 08-09-2026 | 182 | 56 (30.77%) | 238 |
| 07-09-2026 | 182 | 51 (28.02%) | 233 |
| 06-09-2026 | 182 | 35 (19.23%) | 217 |
| 05-09-2026 | 182 | 50 (27.47%) | 232 |
| 04-09-2026 | 182 | 65 (35.71%) | 247 |
| 03-09-2026 | 182 | 20 (10.99%) | 202 |
GMP Date09-09-2026
IPO Price182
GMP62 (34.07%)
Est. Listing Price244
GMP Date08-09-2026
IPO Price182
GMP56 (30.77%)
Est. Listing Price238
GMP Date07-09-2026
IPO Price182
GMP51 (28.02%)
Est. Listing Price233
GMP Date06-09-2026
IPO Price182
GMP35 (19.23%)
Est. Listing Price217
GMP Date05-09-2026
IPO Price182
GMP50 (27.47%)
Est. Listing Price232
GMP Date04-09-2026
IPO Price182
GMP65 (35.71%)
Est. Listing Price247
GMP Date03-09-2026
IPO Price182
GMP20 (10.99%)
Est. Listing Price202
IPO Important Dates
| IPO Open | Tue, Sep 8, 2026 |
| IPO Close | Thu, Sep 10, 2026 |
| Allotment | Fri, Sep 11, 2026 |
| Refund | Tue, Sep 15, 2026 |
| Credit of Shares | Tue, Sep 15, 2026 |
| Listing | Wed, Sep 16, 2026 |
IPO Open
Tue, Sep 8, 2026
IPO Close
Thu, Sep 10, 2026
Allotment
Fri, Sep 11, 2026
Refund
Tue, Sep 15, 2026
Credit of Shares
Tue, Sep 15, 2026
Listing
Wed, Sep 16, 2026
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 82 | ₹14,924 |
| Retail (Max) | 13 | 1,066 | ₹1,94,012 |
| S-HNI (Min) | 14 | 1,148 | ₹2,08,936 |
| S-HNI (Max) | 67 | 5,494 | ₹9,99,908 |
| B-HNI (Min) | 68 | 5,576 | ₹10,14,832 |
ApplicationRetail (Min)
Lots1
Shares82
Amount₹14,924
ApplicationRetail (Max)
Lots13
Shares1,066
Amount₹1,94,012
ApplicationS-HNI (Min)
Lots14
Shares1,148
Amount₹2,08,936
ApplicationS-HNI (Max)
Lots67
Shares5,494
Amount₹9,99,908
ApplicationB-HNI (Min)
Lots68
Shares5,576
Amount₹10,14,832
Financial Information
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 468.38 | 316.63 | 281.76 |
| Total Income | 471.43 | 288.14 | 310.26 |
| Profit After Tax | 83.79 | 57.51 | 20.25 |
| EBITDA | 105.20 | 73.01 | 54.70 |
| NET Worth | 261.58 | 175.75 | 122.60 |
| Reserves and Surplus | 242.96 | 158.88 | 101.47 |
| Total Borrowing | 6.68 | 8.46 | 24.85 |
Period EndedAssets
31 Mar 2026468.38
31 Mar 2025316.63
31 Mar 2024281.76
Period EndedTotal Income
31 Mar 2026471.43
31 Mar 2025288.14
31 Mar 2024310.26
Period EndedProfit After Tax
31 Mar 202683.79
31 Mar 202557.51
31 Mar 202420.25
Period EndedEBITDA
31 Mar 2026105.20
31 Mar 202573.01
31 Mar 202454.70
Period EndedNET Worth
31 Mar 2026261.58
31 Mar 2025175.75
31 Mar 2024122.60
Period EndedReserves and Surplus
31 Mar 2026242.96
31 Mar 2025158.88
31 Mar 2024101.47
Period EndedTotal Borrowing
31 Mar 20266.68
31 Mar 20258.46
31 Mar 202424.85
Key Performance Indicator
| ROE | 38.62% |
| ROCE | 43.01% |
| Debt/Equity | 0.03 |
| RoNW | 32.03% |
| PAT Margin | 18.34% |
| EBITDA Margin | 23.02% |
| NAV | 30.91 |
| Price to Book Value | 5.89 |
ROE
38.62%
ROCE
43.01%
Debt/Equity
0.03
RoNW
32.03%
PAT Margin
18.34%
EBITDA Margin
23.02%
NAV
30.91
Price to Book Value
5.89
IPO Reservation
| QIB | 1,17,55,212 |
| − Anchor Investor | 70,53,127 |
| − QIB (Ex. Anchor) | 47,02,085 |
| NII (HNI) | 35,26,564 |
| − bNII > ₹10L | 23,51,043 |
| − sNII < ₹10L | 11,75,521 |
| Retail | 82,28,649 |
| Total | 2,35,10,425 |
QIB
1,17,55,212
− Anchor Investor
70,53,127
− QIB (Ex. Anchor)
47,02,085
NII (HNI)
35,26,564
− bNII > ₹10L
23,51,043
− sNII < ₹10L
11,75,521
Retail
82,28,649
Total
2,35,10,425
Information about company
Incorporated in 2010, Glass Wall Systems (India) Limited is a façade solutions and fenestration provider with operations in India as well as international markets, including the United States and Australia. The company has over two decades of industry experience and, as of March 31, 2026, has completed more than 158 projects.
Its business is structured across three verticals:
The company’s client base includes real estate developers, contractors, hospitals, airport authorities, and corporations in commercial, residential, and institutional projects. Notable projects include The Capital, Kohinoor Square, Bagmane Rio, Lodha World One in India, and international assignments such as Jackson Avenue, 1400 South Wabash, Spark GTIC, Harper Court in the U.S. and Project Dove in Australia.
As of March 31, 2026, the company employed 370 permanent staff.
Objectives of IPO
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
#: Issue Objects
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
2: General Corporate Purposes
: Total
Disclaimer
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions.
We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on Information published on this application.
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