Glass Wall Systems (India) came to market through an IPO that opened on 8 September 2026 and closed on 10 September 2026, and the shares listed on 16 September 2026 on BSE, NSE. The price band was ₹172 to ₹182 per share and one lot was 82 shares, so the minimum application was ₹14,924. The issue size was ₹427.89 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
It listed at ₹194, a gain of 6.6% against the issue price of ₹182. MUFG Intime India Pvt.Ltd was the registrar to the issue, and IIFL Capital Services Ltd., Motilal Oswal Investment Advisors Ltd were the lead managers.
As of 10 September 2026.
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Overall the issue was subscribed 81.65 times.
Glass Wall Systems (India) Limited was incorporated in the year 2010. It offers facade solutions and fenestration systems with offices not only in India but also abroad such as the USA and Australia. The company has more than 20 years of experience in the industry and, up to March 31, 2025, has been able to deliver more than 150 projects. The company had 289 permanent employees as of March 31, 2025.
As described in the offer document.
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Glass Wall Systems (India) Limited finalised its anchor investor allocation on September 7, 2026, raising ₹128.37 crore from 15 institutional investors at an anchor price of ₹182 per share. The anchor book comprises 70,53,127 equity shares, with domestic mutual funds receiving 33.50% of the allocation through 2 fund houses across 4 schemes — HDFC Mutual Fund and Bank of India Mutual Fund. Life insurance companies received 10.59%, split between Kotak Mahindra Life Insurance and Edelweiss Life Insurance.
The remaining allocation went to Ikigai Emerging Equity Fund and PineBridge India Equity Fund, each at 8.57%, along with Bengal Finance and Investment Pvt Ltd, Abakkus Growth Fund, Subhkam Ventures I, Integrated Core Strategies (Asia), LC Pharos Multi Strategy Fund, Authum Investment and Infrastructure, and India Capital Growth Fund.
Jawahar Hariram Hemrajani, Eshan Jawahar Hemrajani. Promoter holding 64.11% before the issue and 55.72% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Glass Wall Systems (India) IPO was a ₹427.89 crore book-built issue, comprising a fresh issue of ₹60 crore and an offer for sale of ₹367.89 crore. It was priced at ₹172–₹182 per share with a lot size of 82 shares (₹14,924). The IPO was open from September 8 to September 10, 2026 and was subscribed 81.65x. Shares listed on BSE and NSE on September 16, 2026 at ₹194, a 6.6% premium to the issue price of ₹182.
MUFG Intime India Pvt. Ltd. is the registrar. IIFL Capital Services Ltd. and Motilal Oswal Investment Advisors Ltd. are the book running lead managers.
The price band of Glass Wall Systems (India) IPO is ₹172 to ₹182 per share.
The lot size of Glass Wall Systems (India) IPO is 82 shares.
The minimum investment for Glass Wall Systems (India) IPO is approximately ₹14,924 based on the upper price band.
The allotment date of Glass Wall Systems (India) IPO is Sep 11, 2026.
No GMP quote could be verified as recorded before Glass Wall Systems (India) IPO listed. A grey-market observation of ₹41 per share was recorded on 16 Sep 2026, 7:45 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹194. GMP is unofficial and does not forecast or guarantee the actual listing price.
Glass Wall Systems (India) IPO listed on Sep 16, 2026. It was issued at ₹194.0(NSE) and is currently around ₹210.00 as on 30-Oct-2026 3:30 PM, which is approximately 15.4% versus issue price. The 52-week high is ₹317.90.
You can check Glass Wall Systems (India) IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Glass Wall Systems (India) IPO allotment status on Rupix for quick and easy access.
₹172 to ₹182 per share, against a face value of ₹2. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 82 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,924.
₹14,924, for one lot of 82 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 8 September 2026 and closed on 10 September 2026.
The basis of allotment was published on 11 September 2026 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 16 September 2026 on BSE, NSE, opening at ₹194.
The issue size was ₹427.89 crore. The fresh issue was 32,96,703 shares (aggregating up to ₹60 crore). The offer for sale was 2,02,13,722 shares (aggregating up to ₹367.89 crore).
It listed at ₹194 against an issue price of ₹182, a gain of 6.6 percent on listing day.