Glass Wall Systems announces IPO price band for issue opening on September 8. Check details

Glass Wall Systems (India) has fixed the price band for its IPO at Rs 172-182 per equity share, with the issue set to open for subscription on Tuesday, September 8. The IPO will close on Thursday, September 10. The anchor investor bidding will open a day earlier on Monday, September 7.

Investors can bid for a minimum of 82 equity shares and in multiples of 82 shares thereafter. At the upper end of the price band, the minimum retail application size works out to Rs 14,924. The equity shares have a face value of Rs 2 each and are proposed to be listed on BSE and NSE.

Glass Wall Systems IPO details


The IPO comprises a fresh issue of up to Rs 60 crore and an offer for sale of up to 2,02,13,722 equity shares. The selling shareholders include promoter selling shareholders Jawahar Hariram Hemrajani and Eshan Jawahar Hemrajani, and investor selling shareholder India Business Excellence Fund IIA.

The company plans to use Rs 50 crore from the fresh issue proceeds to fund capital expenditure for setting up a glass processing unit as part of backward integration at its Vile Bhagad facility in Maharashtra. The remaining proceeds will be used for general corporate purposes.

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The offer is being made through the book-building route. Not more than 50% of the net offer will be available for qualified institutional buyers, not less than 15% for non-institutional investors and not less than 35% for retail investors.

About Glass Wall Systems

Incorporated in 2002, Glass Wall Systems is a facade solutions and fenestration provider with operations in India, the US and Australia. The company was the second-largest provider of facade solutions in India in terms of revenue in FY25 and FY24, according to the Ken Report cited by the company. It was also India’s largest facade exporter in 2024 in terms of revenue.

Glass Wall Systems has completed 158 projects as of March 31, 2026. Its products and services are used in commercial, residential and institutional projects, including work for real estate developers, hospitals, airport authorities, general contractors and corporate clients.

The company’s offerings include curtain wall facades, storefront wall facades, unitised and semi-unitised curtain wall facades, frameless facades, skylights, canopies, space frames, louvres, rain screen cladding, diagrids, and aluminium doors and windows.

The facade and fenestration business acts as the outer interface of a building, combining materials, engineering and design. These products are used to improve the look, energy efficiency and structural performance of buildings.

As of March 2026, the facility had a developed area of 32,415.45 square metres and post-expansion production capacity of 130 panels per day. The company operates four production lines at the facility, supported by more than 120 personnel as of March 2026.

As of July 2026, the company’s domestic facade solutions order book stood at Rs 626.09 crore. It also had outstanding international facade product supply orders of Rs 186.19 crore. The order book for the fenestration business under Yes Systems stood at Rs 169.26 crore.

IIFL Capital Services and Motilal Investment Advisors are the book-running lead managers to the issue. MUFG Intime India is the registrar.

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