Glass Wall Systems (India) IPO
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Glass Wall Systems (India) IPO details
Schedule of Glass Wall Systems (India)
| Issue open date | 08 Sep 2026 |
| Issue close date | 10 Sep 2026 |
| UPI mandate deadline | 10 Sep 2026 (5 PM) |
| Allotment finalization | 11 Sep 2026 |
| Refund initiation | 15 Sep 2026 |
| Share credit | 15 Sep 2026 |
| Listing date | 16 Sep 2026 |
| Mandate end date | 25 Sep 2026 |
| Lock-in end date for anchor investors (50%) | 10 Oct 2026 |
| Lock-in end date for anchor investors (remaining) | 09 Dec 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Glass Wall Systems (India)
Glass Wall Systems India delivers turnkey domestic and international façade and fenestration solutions. Operating from Vile Bhagad, Maharashtra, the company integrates engineering, manufacturing, and installation for developers and contractors. Its core portfolio includes performance glass, aluminium extrusions, and curtain walls, expanded via the acquisition of Yes Systems. Revenue is driven by competitive project bidding and export sales.
Financials of Glass Wall Systems (India)
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 427.89 |
| Fresh Issue – Proceeds go to the company | 60 |
| Offer for sale – Proceeds go to the existing investors | 367.89 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding capital expenditure for setting up a GPU Project at Vile Bhagad | 50 (83.33%) |
| General Corporate Purposes | 10 (16.67%) |
Strengths
- Proven track record in executing complex façade engineering projects.
- Diversified revenue across domestic, global, and luxury fenestration markets.
- Fully integrated in-house manufacturing and execution capabilities.
- Strategic backward integration to optimize costs and supply chain control.
- High repeat order rate from major domestic and international developers.
Risks
- Top ten clients account for a massive 86.40% of total revenue.
- Complete reliance on a single manufacturing facility in Maharashtra.
- High vulnerability to raw material price volatility without long-term contracts.
- Outstanding tax demands and contingent liabilities totaling ₹33.41 crores.
- Financial performance is highly sensitive to real estate market cycles.
Allotment Status for Glass Wall Systems (India)
To check your IPO allotment status:
- Visit the MUFG Intime India IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allotment status.
Subscription Figures for Glass Wall Systems (India)
Grey Market Premium (GMP) is an unofficial and unregulated metric that may not accurately reflect investor interest. Instead, investors should refer to the IPO subscription data published by the stock exchanges, which is a more reliable indicator of demand.
Subscription numbers as of 05:00 PM on September 10, 2026:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 47.02 | 7896.08 | 167.93x |
| NII | 35.27 | 2811.15 | 79.71x |
| Retail | 82.28 | 2730.05 | 33.18x |
| Total | 164.57 | 13437.27 | 81.65x |