IPO Note : GLEN Industries Ltd by Choice Broking Ltd
Salient features of the IPO:
* GLEN Industries Limited (GIL) is a fast-growing manufacturer of ecofriendly thin-wall food containers and compostable straws, catering to the HoReCa sector, beverage, and food packaging industries. Backed by strong demand, GIL is expanding with a modern 90,000 sq. ft. facility in Dhulagarh, equipped with advanced machinery and skilled manpower to boost production and quality. The company is launching its IPO to raise approximately Rs.63.02cr., opening on 8th July 2025 and closing on 10th July 2025, with a price band of Rs.92–Rs.97 per share. With a focus on sustainability, innovation, and scale, GIL offers a compelling opportunity for investors seeking growth in the green packaging space.
* The IPO solely comprises of fresh issue (Rs. 63.02cr). From the fresh issue net proceeds, the company will be utilizing Rs. 47.73cr for setting Up a new manufacturing facility at Purba Bardhaman, PS - Jamalpur. Residual proceeds will be used for general corporate purposes.
* Post-IPO, the P&PG and public shareholders will have 73% and 27% stake in the company, respectively.
Key competitive strengths:
* Established relationships with customers
* Advanced in-house processing facilities with focus on cost competitiveness
* Customization Capabilities
Risk and concerns:
* Risk of international trade
* General slowdown in global economic activities
* Under-utilization of manufacturing capacities
* Reliance on third party distribution channel
* Stringent quality control requirements
* Competition
Below are the key highlights of the company:
* The India Plastic Packaging Market is estimated at USD 21.77 bn in FY24 and is expected to reach USD 25.35 bn by FY29, growing at a CAGR of 3.09% during forecasted period of FY24–FY29. Under the "Make in India" initiative, the Indian government has boosted the food processing sector by setting up 134 cold chain projects and 18 mega food parks, along with launching a Rs. 10,000 cr program to promote the industry, which is driving increased demand for flexible plastic packaging in the country.
* The Global Plastic Packaging Market is estimated at USD 103.63 bn in FY24 and is expected to reach USD 121.93 bn by FY29, growing at a CAGR of 3.31% during during forecasted period of FY24–FY29.
* GLEN Industries Limited, originally incorporated as GLEN Stationery Private Limited in 2007, has undergone significant transformation over the years. Initially focused on stationery and printing materials, the company rebranded as GLEN Industries Private Limited in 2018 and later transitioned to a public limited company in 2024. Today, it is a key player in the manufacturing of food packaging and service products, catering primarily to the HoReCa (Hotel, Restaurant, Catering) sector, Quick Service Restraunt (“QSRs”), and the food, beverage, and dairy industries.
* The company specializes in two major product segments: Thin Wall Food Containers and a comprehensive range of straws made from Polylactic Acid (PLA) and paper. These products are available in various shapes and sizes and can be customized through digital printing, shrink sleeving, pad printing, and more. GLEN Industries has maintained a strong focus on quality, hygiene, and compliance with international standards, which has helped build a trusted customer base both in India and abroad.
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SEBI Registration no.: INZ 000160131
