Glass Wall Systems (India) Ltd.
Price band ₹172–182 · Issue ₹427.89 Cr
Market attention score 30 (how ranked)
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Opens
8 Sept 2026
Closes
10 Sept 2026
Allotment
—
Listing
16 Sept 2026
At a glance
IPO Open Tue, Sep 8, 2026 IPO Close Thu, Sep 10, 2026 Price Band To be declared Market Cap To be declared IPO Details IPO Date 8 to 10 Sep, 2026 Listing Date Wed, Sep 16, 2026 T Face Value ₹ 2 per share Price Band Sale Type Fresh capital cum OFS Issue Type Bookbuilding IPO Listing At BSE, NSE Fresh Issue [.] shares (agg. up to ₹ 60 Cr) Offer for Sale 4,02,34,552 shares of ₹ 2 (agg. up to ₹ [.] Cr) Share Holding Pre Issue 8,46,38,550 shares IPO Timetable (Tentative) 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 IPOs Timetable Issue Reservation Investor Category Shares Offered QIB Shares Offered Not more than 50% of the Offer Retail Shares Offered Not less than 35% of the Offer NII Shares Offered Not less than 15% of the Offer About Glass Wall Systems (India) Ltd. Updated on Sep 3, 2026 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, 2025, has completed more than 150 projects.
Its business is structured across three verticals:
Overview
Glass Wall Systems IPO is a book build issue . The issue comprises of fresh issue of ₹60.00 crores and offer for sale of 4.02 crore shares.
Glass Wall Systems IPO opens for subscription on Sep 8, 2026 and closes on Sep 10, 2026. The allotment for the Glass Wall Systems IPO is expected to be finalized on Sep 11, 2026. Glass Wall Systems IPO will list on NSE and BSE with a tentative listing date fixed as Sep 16, 2026.
Glass Wall Systems IPO is set issue price band at [.] to [.] per share.
IIFL Capital Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Glass Wall Systems IPO RHP for detailed Information.
Issue details
IPO Date
8 to 10 Sep, 2026
Listing Date
Wed, Sep 16, 2026T
Face Value
₹2 per share
Sale Type
Fresh capital cum OFS
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Issue reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII Shares Offered | Not less than 15% of the Offer |
About the 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, 2025, has completed more than 150 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, 2025, the company employed 289 permanent staff.
Financials
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 289.57 | 258.34 | 303.93 |
| Total Income | 251.70 | 288.02 | 242.18 |
| Profit After Tax | 43.81 | 11.95 | 16.11 |
| EBITDA | 58.09 | 43.19 | 11.86 |
| NET Worth | 153.50 | 114.04 | 102.19 |
| Reserves and Surplus | 138.32 | 94.60 | 82.75 |
| Total Borrowing | 8.46 | 18.55 | 47.13 |
Amounts in ₹ Crore (restated)
Key performance indicators
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 32.75% |
| ROCE | 38.32% |
| Debt/Equity | 0.06 |
| RoNW | 28.54% |
| PAT Margin | 17.90% |
| EBITDA Margin | 23.73% |
| NAV | 20.22 |
Valuation
Valuation Metric
Pre IPO
EPS (₹)
5.18
Shareholding
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 64.11% | |
| Public | 35.89% | |
| Total | 100% |
Objects of the issue
- — Funding capital expenditure requirement for setting up of a glass processing unit (“GPU Project”) as part of planned backward integration of the Company at our Vile Bhagad Facility;
- — General corporate purposes
Intermediaries
Registrar
MUFG Intime India Pvt.Ltd.
Lead manager(s)
IIFL Capital Services Ltd., Motilal Oswal Investment Advisors Ltd.
FAQs
How to apply in Glass Wall Systems IPO through Zerodha?+
Zerodha customers can apply online in Glass Wall Systems IPO using UPI as a payment gateway. Zerodha customers can apply in Glass Wall Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form. Steps to apply in Glass Wall Systems IPO through Zerodha Visit the Zerodha website and login to Console. Go to Portfolio and click the IPOs link. Go to the ' Glass Wall Systems IPO ' row and click the 'Bid' button. Enter your UPI ID, Quantity, and Price. Submit IPO application form. Visit the UPI App (net banking or BHIM ) to approve the mandate. Visit Zerodha IPO Application Process Review for more detail.
When Glass Wall Systems IPO will open?+
The Glass Wall Systems IPO opens on Tue, Sep 8, 2026 and closes on Thu, Sep 10, 2026.
What is the lot size of Glass Wall Systems IPO?+
Glass Wall Systems IPO lot size and the minimum order quantity is not available at this time. Please check again later.
How to apply for Glass Wall Systems IPO?+
You can apply in Glass Wall Systems IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha , Upstox , 5Paisa , Nuvama , HDFC Bank , and SBI Bank .
When is Glass Wall Systems IPO allotment?+
The finalization of Basis of Allotment for Glass Wall Systems IPO will be done on Friday, September 11, 2026 , and the allotted shares will be credited to your demat account by Tue, Sep 15, 2026 . Check the Glass Wall Systems IPO allotment status .
When is Glass Wall Systems IPO listing date ?+
The Glass Wall Systems IPO listing date is not yet announced. The tentative date of listing is Wed, Sep 16, 2026 .
Aggregated from public IPO filings. GMP is unofficial grey-market chatter, not advice.