← All IPOs

Glass Wall Systems (India) Limited

MainboardlistedNSE · BSE
08 Sep 2026 – 10 Sep 2026
LISTED
Offer Price
₹172–182
Bid lot
82
Min Application
₹14,924
Issue Size
₹60 Cr

Key dates

Open date
08 Sep 2026
Done
Close date
10 Sep 2026
Done
Basis of allotment
11 Sep 2026
Done
Initiation of refunds
11 Sep 2026
Done
Credit to demat
11 Sep 2026
Done
Listing date
16 Sep 2026
Done

Issue reservation

₹60 Cr
QIB 50.16%10.03%5.01%Retail 35.12%
QIB
16.5 L sh · ₹30.10 Cr
50.16%
HNI (10L+)
3.3 L sh · ₹6.02 Cr
10.03%
HNI (2-10L)
1.7 L sh · ₹3.01 Cr
5.01%
Retail
11.6 L sh · ₹21.07 Cr
35.12%
Applications required for 1× subscription
Retail (≤₹2L)
14,118 forms
S-HNI (₹2–10L)
144 forms
B-HNI (>₹10L)
59 forms
From this issue's reservation split and lot size — the minimum bid each category can place.
BRLM: IIFL Capital Services Limited (Formerly known as IIFL Securities

Lot ladder — how much to bid

1 lot = 82 shares
Retail · Up to ₹2 L1–13 lots
Min · 1 lot
82 sh · ₹14,924
Max · 13 lots
1,066 sh · ₹1,94,012
S-HNI · ₹2 L to ₹10 L14–67 lots
Min · 14 lots
1,148 sh · ₹2,08,936
Max · 67 lots
5,494 sh · ₹9,99,908
B-HNI · Above ₹10 L68+ lots
Min · 68 lots
5,576 sh · ₹10,14,832
Entry point
₹10,14,832 onward

Issue details

Lead managersIIFL Capital Services Limited (Formerly known as IIFL Securities
Fresh issue32,96,703 sh · ₹60 Cr
Offer for sale10,989 sh · ₹0 Cr
Face value₹10
Listing onNSE · BSE
RegistrarMUFG Intime India Pvt.Ltd.
Grey-market sentiment
Premium / share
+₹48
Est. listing price₹230
Est. listing gain+26.4%

⚠ Grey-market premium is unofficial, unregulated and not investment advice. 7-day trend shown.

Financials

Particulars

FY26

FY25

FY24

Assets

468.38

316.63

281.76

Total Income

471.43

288.14

310.26

PAT

83.79

57.51

20.25

Net Worth

261.58

175.75

122.6

Reserves & Surplus

242.96

158.88

101.47

Total Borrowings

6.68

8.46

24.85

Objects of the issue
  • Glass Processing Unit: ₹60.00 crore for setting up the GPU at Vile Bhagad as part of backward integration.-

  • General Corporate Purposes: For general business requirements.

About the company

Incorporated in 2010, Glass Wall Systems (India) Limited is a façade solutions and fenestration provider with operations in India as well as international markets, including the United States and Australia. The company has over two decades of industry experience and, as of March 31, 2026, has completed more than 158 projects.

Its business is structured across three verticals:

  1. Domestic Façade Solutions – Design, engineering, fabrication, supply, installation, and EPC services for real estate developers, contractors, and corporate clients.

  2. International Façade Products Supply – Supply of sustainable façade products, tailored to contractors and façade companies overseas.

  3. Fenestration Solutions – Custom luxury windows, doors, skylights, and partition systems, catering to the high-end domestic market, primarily through its subsidiary Yes Systems Private Limited (acquired in August 2025). Yes Systems operates in the premium fenestration space under the brand ORIA and collaborates with international partners such as a Swiss window systems brand, LIBART, and OIKAS.

The company’s client base includes real estate developers, contractors, hospitals, airport authorities, and corporations in commercial, residential, and institutional projects. Notable projects include The Capital, Kohinoor Square, Bagmane Rio, Lodha World One in India, and international assignments such as Jackson Avenue, 1400 South Wabash, Spark GTIC, Harper Court in the U.S. and Project Dove in Australia.

As of March 31, 2026, the company employed 370 permanent staff.

Company strengths

  • Strong Market Position : India’s second-largest façade solutions provider and a leading façade exporter by revenue.

  • Diversified Operations : Presence across domestic façades, international product supply in the U.S. and Australia, and premium fenestration under the ORIA brand.

  • Proven Execution : Completed 158+ marquee projects, including Lodha World One and international commercial developments.

Promoters

Jawahar Hariram HemrajaniEshan Jawahar Hemrajani

Registered office & contact

Glass Wall Systems (India) Limited

Address - 503-504, 5th Floor, A Wing

Marathon Futurex, Mafatlal Mills Compound

N.M. Joshi Marg, Lower Parel (East)

Mumbai, Maharashtra, 400013

📞 +91 22 6103 3456

✉️ compliance@glasswallsystem.com

Documents

Filed with SEBI / the exchange by the issuer. Opens on the issuer's or the regulator's site.

How to apply
1Create your account & log inSign up on Investoyard and complete a quick KYC.
2Pick the IPO & tap ApplyOpen the live IPO and choose your investor category.
3Enter bid & quantityUp to 3 bids · cut-off or price band · retail cap ₹2,00,000.
4Approve the UPI mandateYou receive a fund-block request on your UPI app.
5DoneFunds stay blocked until allotment, then auto-debited (or released).
Frequently asked questions
What is the minimum investment in the Glass Wall Systems (India) Limited IPO?

One lot of 82 shares — ₹14,924 at the upper price band of ₹182.

How many bids can I place?

Up to 3 bids per application. Retail applications are capped at ₹2,00,000; above that you must apply in the HNI category.

When are the funds debited?

Funds are blocked via a UPI mandate at application and debited only on allotment. If shares are not allotted, the block is released automatically.

When will the shares list?

Tentative listing on 2026-09-16 on NSE / BSE.

₹172–182
Applications are closed.