Kolkata-based Glen Industries’ IPO set to open on 8 July

Glen Industries, producer of biodegradable and compostable food packaging products such as thin-walled food containers, polylactic acid straws, and paper straws, is set to begin its INR 63-crore initial public offering (IPO), according to leading business sources. The initial share sale is projected to be in the price range of INR 92 – 97.

The IPO will close on 10 July, and the IPO share allotment will be finalised by the end of 11 July. Company shares will be listed and available for trading on the Bombay Stock Exchange (BSE) in mid-July.

In April 2024, the company commenced operations in its second factory located in Jaugram, West Bengal. According to sources, Glen Industries intends to use the IPO revenues primarily to establish a new production facility in Mouza-Jaugram.