2 hrs ago
Glass Wall Systems Sets IPO Price Band at ₹172-₹182
Glass Wall Systems is planning to sell shares to the public for the first time.
Each share will cost between ₹172 and ₹182.
The sale will begin on 8 September and end on 10 September.
Some of the money will come from new shares issued by the company, while some shares will be sold by existing shareholders.
The company plans to use the money to build a glass processing unit.
It will also use some funds for general business needs.
Shares are expected to be listed on the NSE and BSE.
The company provides glass façade and window-related services for buildings in India and other countries.
Glass Wall Systems has set its IPO price band at ₹172-₹182 per share, with a face value of ₹2.
The book-built issue includes a fresh issue of ₹60 crore and an offer for sale of up to 367.89 crore equity shares.
Subscription will open on 8 September and close on 10 September, with allotment scheduled for 11 September.
Retail investors will receive at least 35% of the offer, while QIBs can receive up to 50% and NIIs at least 15%.
Proceeds will fund a glass processing unit at the company’s Vile Bhagad facility and general corporate purposes.
- Who
- Glass Wall Systems (India) Limited, along with investors selling shares through the offer for sale.
- What
- The company has announced a ₹172-₹182 price band for its upcoming IPO.
- Where
- The company operates across India and international markets, and the shares are proposed to be listed on the NSE and BSE.
- When
- The IPO will be open from 8 September to 10 September, with allotment scheduled for 11 September; the article does not specify the year.
- Why
- The net proceeds will help fund a glass processing unit at the Vile Bhagad facility and general corporate purposes.
Key facts
- Price band
- ₹172-₹182 per share
- Face value
- ₹2 per share
- Issue structure
- ₹60 crore fresh issue and an offer for sale of up to 367.89 crore equity shares
- Subscription dates
- 8 September to 10 September
- Investor allocation
- QIBs: up to 50%; retail investors: at least 35%; NIIs: at least 15%
- Proposed listing
- National Stock Exchange of India and BSE
- Issue advisers
- IIFL Capital Services Ltd. is the book running lead manager; MUFG Intime India Pvt. Ltd. is the registrar
Sources
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