Glass Wall Systems (India)
LIVEIPO Date: 8 Sept - 10 Sept 2026
Listing Date: 16 Sept 2026
Price Range
Rs.172 - Rs.182
Issue Size
428 Cr
Min Investment
₹14,104
Min Application
82 Shares
Schedule of Glass Wall Systems (India)
Issue open date
8 Sept 2026
Issue close date
10 Sept 2026
UPI mandate deadline
10 Sept 2026 (5 PM)
Allotment finalization
11 Sept 2026
Share credit
15 Sept 2026
Listing date
16 Sept 2026
Mandate end date
25 Sept 2026
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 428 Cr |
| Fresh Issue | 60 Cr |
| Offer for Sale | 367.89 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 11 Sept 2026 |
| Allotment Link | {Link} |
Grey Market Premium
NewGrey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | IPO Price | GMP | Est. Listing Price |
|---|---|---|---|
| 9 Sept 2026Latest | ₹182 | ₹66 | ₹248(+36.26%) |
| 7 Sept 2026 | ₹182 | ₹51 | ₹233(+28.02%) |
| 6 Sept 2026 | ₹182 | ₹35 | ₹217(+19.23%) |
| 5 Sept 2026 | ₹182 | ₹50 | ₹232(+27.47%) |
| 4 Sept 2026 | ₹182 | ₹65 | ₹247(+35.71%) |
| 3 Sept 2026 | ₹182 | ₹20 | ₹202(+10.99%) |
Performance Glass Wall Systems (India)
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| Rs.172 - Rs.182 | .... | .... | .... |
About Glass Wall Systems (India)
Glass Wall Systems (India) Limited is engaged in providing façade and fenestration solutions in India and international markets, including the United States and Australia. The company offers curtain wall façades, storefront systems, unitised and semi-unitised façades, frameless façades, windows, doors, skylights, and partition systems. Its operations are divided into domestic façade solutions, international façade product supply, and fenestration solutions. The company provides services across design, engineering, fabrication, manufacturing, supply, and installation. Glass Wall Systems operates its primary manufacturing facility at Vile Bhagad, Maharashtra, with a developed area of 32,415.45 square metres and a production capacity of 130 panels per day. The facility operates under ISO 9001:2015 and ISO 45001:2018 certifications.
| Founded in | 2002 |
| Managing director | Mr Eshan Jawahar Hemrajani |
| Parent organization |
Financial Overview
Strengths
5- 1
Proven track record in executing complex façade engineering projects.
- 2
Diversified revenue across domestic, global, and luxury fenestration markets.
- 3
Fully integrated in-house manufacturing and execution capabilities.
- 4
Strategic backward integration to optimize costs and supply chain control.
- 5
High repeat order rate from major domestic and international developers.
Risks
5- 1
Top ten clients account for a massive 86.40% of total revenue.
- 2
Complete reliance on a single manufacturing facility in Maharashtra.
- 3
High vulnerability to raw material price volatility without long-term contracts.
- 4
Outstanding tax demands and contingent liabilities totaling ₹33.41 crores.
- 5
Financial performance is highly sensitive to real estate market cycles.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 0.3 |
| Non-Institutional Investors (NIIs) | 12.41 |
| Retail Individual Investors (RIIs) | 10.96 |
| Employee | N/A |
| Total | 8.22 |