Glass Wall Systems’ initial public offering (IPO) is set to open for subscription on September 8, 2026. According to the Red Herring Prospectus (RHP), the ₹427.89 crore book-built issue comprises a fresh issue of up to ₹60.00 crore and an offer for sale (OFS) of up to ₹367.89 crore.

The IPO will remain open until September 10, 2026. The basis of allotment is expected to be finalised on September 11, 2026, and the shares are tentatively scheduled to be listed on the BSE and NSE on September 16, 2026.

Glass Wall Systems IPO - Issue Details

Issue Type: Book Built Issue (Fresh Issue + OFS)
Total Issue Size: Up to ₹427.89 crore
Fresh Issue: Up to ₹60.00 crore
Offer for Sale (OFS): Up to ₹367.89 crore
Face Value: ₹2 per equity share
Price Band: ₹172 to ₹182 per share
Lot Size: 82 shares
Minimum Investment Amount (Retail Investor): ₹14,924 (82 shares at the upper price)
Listing: BSE, NSE
Book Running Lead Managers: IIFL Capital Services Limited, Motilal Oswal Investment Advisors Limited
Registrar: MUFG Intime India Private Limited

Glass Wall Systems IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Event	Date
Subscription Opening Date	8 September 2026
Subscription Closing Date	10 September 2026
Basis of Allotment Date	11 September 2026
Refund Initiation Date	15 September 2026
Credit of Shares	15 September 2026
Listing on BSE and NSE	16 September 2026

Note: The allotment and listing dates are tentative and may be revised.

Explore other Upcoming IPOs on BSE and NSE.

Glass Wall Systems IPO Category-wise Investment Limits

The application size for each category is as follows -

Category	Investment Range
Qualified Institutional Buyers (QIBs)	Not more than 50% of the Net Issue
Non-Institutional Investors (NIIs)	Not less than 15% of the Net Issue
Retail Individual Investors (RII)	Not less than 35% of the Net Issue

The minimum investment amount for each category, based on the upper price band of ₹182 per share, is as follows -

Investor Category	Lots	Shares	Investment Amount (Approx.)
Retail (Minimum)	1	82	₹14,924
Retail (Maximum)	13	1,066	₹1,94,012
sNII (Minimum)	14	1,148	₹2,08,936
bNII (Minimum)	68	5,576	₹10,14,832

Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

Funding capital expenditure requirement for setting up of a glass processing unit (“GPU Project”) as part of planned backward integration of the company at its Vile Bhagad Facility
General corporate purposes.

About Glass Wall Systems Limited

Glass Wall Systems Limited is a premium façade solutions and fenestration provider in India, with operations in the USA and Australia. With over two decades of experience, the company has completed 158 projects as of March 31, 2026, offering façade systems, aluminium doors and windows, skylights, and premium fenestration solutions.

Its business spans domestic façade solutions, international façade product supply, and fenestration solutions. The company has integrated design, engineering, manufacturing and project management capabilities, supported by our Vile Bhagad facility in Maharashtra, which has a post-expansion capacity of 130 panels per day.

Key Financial Highlights

Particulars	FY26 (in ₹ crore)	FY25 (in ₹ crore)	FY24 (in ₹ crore)
Revenue from operations	456.97	278.33	304.34
EBITDA	105.20	73.01	54.70
Profit After Tax (PAT)	83.79	57.51	20.25