Glass Wall Systems IPO
GMP, Subscription, Price, Dates & Financial Details
Engineering - Industrial Equipments
Incorporated in 2010, Glass Wall Systems (India) Limited is a premium façade solutions and fenestration company serving customers across India, the United States and Australia. With over two decades of industry experience, the company had completed more than 158 projects as of March 31, 2026.The…
Open Date
Tue, 08 Sep 2026
Close Date
Thu, 10 Sep 2026
Price Band
₹ 172 – 182
Lot Size
82
Issue Size
₹ 427.89 Cr
Minimum Investment
₹ 14,924 (82 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Glass Wall Systems IPO is set to open its Initial Public Offering (IPO) for subscription on September 08, 2026. According to the Red Herring Prospectus (RHP), the IPO is a book-built issue with a total issue size of ₹427.89 Crore, comprising a fresh issue of 32.97 Lakh equity shares aggregating to ₹60.00 Crore and an offer for sale (OFS) of 2.02 Crore equity shares aggregating to ₹367.89 Crore by the existing shareholders.
The Glass Wall Systems IPO will open for subscription on September 08, 2026, and close on September 10, 2026. The basis of allotment is expected to be finalized on September 11, 2026, while the shares are tentatively scheduled to be listed on the NSE and BSE on September 16, 2026.
The company has fixed the price band at ₹172 to ₹182 per share, with a lot size of 82 shares. Retail investors will require a minimum investment of ₹14,924 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited is the registrar to the issue. IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Ltd are the Book Running Lead Managers (BRLMs) to the issue.
Before investing in the Glass Wall Systems IPO, investors should carefully review the company's financial performance, business model, IPO objectives, and risk factors disclosed in the offer documents. Investors should also ensure that they submit their applications before the subscription window closes on September 10, 2026.
Glass Wall Systems IPO Timeline (Tentative)
- IPO Open Date
- Tue, 08 Sep 26
- IPO Close Date
- Thu, 10 Sep 26
- Basis of Allotment
- Fri, 11 Sep 26
- Initiation of Refunds
- Tue, 15 Sep 26
- Credit of Shares to Demat
- Tue, 15 Sep 26
- Listing Date
- Wed, 16 Sep 26 — BSE & NSE
Open Date
08 September 2026
Close Date
10 September 2026
Basis Of Allotment
11 September 2026
Listing Date
16 September 2026
IPO Subscription
Check Live Subscription →The Glass Wall Systems IPO subscription Data Unavailable. Subscription data will be available once biddings start. Bidding is open from 10:00 AM to 5:00 PM on 08 September 2026
IPO Reservations
Reservation Details Are not Available until IPO Opens.
Reservation figures are shown once IPO opens.
Financials Details(₹ in Crores)
| Particular | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 468.38 | 316.63 | 281.76 |
| Revenue | 471.43 | 288.14 | 310.26 |
| Profit After Tax | 83.79 | 57.51 | 20.25 |
| Net Worth | 261.58 | 175.75 | 122.6 |
| Reserve & Surplus | 242.96 | 158.88 | 101.47 |
| Total Borrowings | 6.68 | 8.46 | 24.85 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Glass Wall Systems (India) Limited KPI Information
| Particular | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 38.62 | 39 | 18.28 |
| ROCE % | 43.01 | 43.39 | 27.96 |
| Debt / Equity | 0.03 | 0.05 | 0.21 |
| RoNW % | 32.03 | 32.72 | 16.52 |
| Pat Margin % | 18.34 | 20.66 | 6.65 |
Peers Comparison
No Peer Comparision Available
About Glass Wall Systems (India) Limited
Incorporated in 2010, Glass Wall Systems (India) Limited is a premium façade solutions and fenestration company serving customers across India, the United States and Australia. With over two decades of industry experience, the company had completed more than 158 projects as of March 31, 2026.
The company operates across three key business verticals: Domestic Façade Solutions, International Façade Products Supply, and Premium Fenestration Solutions. In India, it provides end-to-end façade services covering design, engineering, fabrication, supply, installation and EPC for commercial, residential and institutional projects. Its portfolio includes curtain walls, skylights, canopies, louvers, rainscreen cladding, diagrids, and aluminium doors and windows.
Through its international business, the company manufactures and supplies customized façade products primarily to contractors and façade companies in the United States and Australia, with limited exposure to on-site installation activities. Its client base includes real estate developers, contractors, hospitals, airport authorities and corporate customers. Notable projects include The Capital, Kohinoor Square, Bagmane Rio and Lodha World One in India, along with projects such as Jackson Avenue, 1400 South Wabash, Spark GTIC and Harper Court in the United States, and Project Dove in Australia.
The company has also expanded into the premium fenestration segment through the acquisition of Yes Systems Private Limited in August 2025. Operating under the ORIA brand, Yes Systems offers luxury windows, doors, skylights and partition systems and has collaborations with international partners, including LIBART and OIKAS.
Glass Wall Systems is among India's leading façade solution providers, ranking as the second-largest façade solutions provider in India by revenue in FY2024 and FY2025 and the largest façade exporter in India by revenue in 2024. Its integrated manufacturing facility in Maharashtra has a post-expansion capacity of 130 panels per day. As of March 31, 2026, the company had 370 permanent employees.
Glass Wall Systems IPO Promoters
Jawahar Hariram Hemrajani
Eshan Jawahar Hemrajani
Promoters Holding
Holding Pre Issue
64.11%
Holding Post Issue
55.72%
Glass Wall Systems IPO Objective
The Company Glass Wall Systems IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding capital expenditure requirement for setting up a glass processing unit as part of planned backward integration of the Company at our Vile Bhagad facility
- General corporate purposes
Glass Wall Systems (India) Limited Address / Contact Details
Glass Wall Systems (India) Ltd.
503-504, 5th Floor, A Wing
Marathon Futurex, Mafatlal Mills Compound
N.M. Joshi Marg, Lower Parel (East)
Mumbai, Maharashtra, 400013
Phone: +91 22 6103 3456
Email: compliance@glasswallsystem.com
Website: https://www.glasswallsystems.in/
IPO Snapshot
Glass Wall Systems IPO Lot Size
The Glass Wall Systems IPO has a lot size of 82 shares. Retail investors require a minimum investment of ₹14,924 by applying for 1 lot (82 shares). The maximum application allowed for the retail category is 13 lots (1,066 shares), requiring an investment of ₹1,94,012.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 82 | 14,924.00 |
| Retail (Max) | 13 | 1,066 | 194,012.00 |
| S-HNI (Min) | 14 | 1,148 | 208,936.00 |
| S-HNI (Max) | 67 | 5,494 | 999,908.00 |
| B-HNI (Min) | 68 | 5,576 | 1,014,832.00 |
Issue Reservation
Book Running Lead Managers
- IIFL Capital Services Limited
- Motilal Oswal Investment Advisors Ltd
IPO Documents & Links
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Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Glass Wall Systems IPO?
Glass Wall Systems IPO is a Book-building IPO with a total issue size of ₹427.89 crore. The Glass Wall Systems IPO price band is ₹172 to 182 per share. The Glass Wall Systems IPO subscription opens on Tue, Sep 8, 2026, and closes on Thu, Sep 10, 2026. The Glass Wall Systems IPO will be listed on the BSE,NSE. MUFG Intime India Private Limited is the registrar for the Glass Wall Systems IPO.
When will the Glass Wall Systems IPO open for subscription?
The Glass Wall Systems IPO opens on Tue, Sep 8, 2026 and closes on Thu, Sep 10, 2026
What is Glass Wall Systems IPO Price Band?
Glass Wall Systems IPO Price Band is ₹172 to 182 per share.
What is Glass Wall Systems IPO Lot Size?
Glass Wall Systems IPO lot size is 82 shares, Retail investors need a minimum investment of ₹14924 based on the upper price band
What is the minimum investment for Glass Wall Systems IPO?
The minimum investment for Glass Wall Systems IPO is ₹14924, based on one lot of 82 shares at the upper price band of ₹182 per share.
How to apply for Glass Wall Systems IPO?
Investors can apply for the Glass Wall Systems IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Thu, Sep 10, 2026. The application amount remains blocked until the Glass Wall Systems IPO allotment is finalized.
What is Glass Wall Systems IPO Issue Size?
Glass Wall Systems IPO issue size is ₹427.89 crores.
What is the Glass Wall Systems IPO Allotment Date?
Glass Wall Systems IPO allotment date is Fri, Sep 11, 2026.
Who is the Glass Wall Systems IPO Registrar?
The registrar for Glass Wall Systems IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Glass Wall Systems IPO allotment status, refund processing, and other IPO-related information.
What is the Glass Wall Systems IPO GMP?
The Glass Wall Systems IPO GMP (Grey Market Premium) is ₹20 as of Fri, Sep 4, 2026. Based on the upper price band of ₹182 per share, the estimated Glass Wall Systems IPO listing price is ₹202, indicating a potential listing gain of approximately 10.99% over the issue price.
Who is the Glass Wall Systems IPO Lead Manager?
The book-running lead managers (BRLMs) for the Glass Wall Systems IPO are IIFL Capital Services Limited and Motilal Oswal Investment Advisors Ltd. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Glass Wall Systems IPO Red Herring Prospectus (RHP).