What is the GMP of Glass Wall Systems IPO today?

The Grey Market Premium (GMP) for Glass Wall Systems IPO is currently ₹41. With an upper price band of ₹182, the estimated listing price is ₹223 per share, reflecting an expected listing gain of ~22.53%. Grey market premiums can fluctuate based on market sentiment and subscription demand.

What is the price band and lot size for Glass Wall Systems IPO?

The price band for Glass Wall Systems IPO is ₹172 to ₹182 per equity share. The minimum lot size is 82 shares, which requires a minimum retail application investment of ₹14,924.

What are the important dates for Glass Wall Systems IPO?

Glass Wall Systems IPO opens for subscription on 2026-09-08T00:00:00 and closes on 2026-09-10T00:00:00. The basis of allotment is scheduled for 2026-09-11T00:00:00, and shares are expected to list on 2026-09-16T00:00:00 on BSE, NSE.

How can I check the allotment status for Glass Wall Systems IPO?

You can check Glass Wall Systems IPO allotment status on the registrar's official portal (MUFG Intime India Pvt Ltd) or through the official BSE and NSE IPO allotment status pages using your PAN number or Application number.

How to apply for Glass Wall Systems IPO?

Investors can apply for Glass Wall Systems IPO online through ASBA (Application Supported by Blocked Amount) via their internet banking account, or via UPI using authorized stockbroking platforms like Zerodha, Groww, Angel One, and Upstox.

When does the Glass Wall Systems IPO open and close?

The IPO opens on 8 Sept 2026, and closes on 10 Sept 2026.

What is Glass Wall Systems IPO price band?

The issue price band is ₹172.00 to ₹182.00 per equity share.

What is the Glass Wall Systems IPO lot size?

The minimum lot size is 82 shares per application.

What is the Glass Wall Systems IPO allotment date?

The allotment is scheduled on 11 Sept 2026.

Glass Wall Systems IPO Details - Dates, Price Band, Issue Size

All IPOs

Issue Size

428.00 Cr

Price Band

₹172.00 - ₹182.00

Lot Size

82 Shares

Min Investment

₹14,924

GMP

₹41

Subscription

81.65x

₹24,456.47 Cr

08 Sept 2026

IPO Opens

COMPLETED

10 Sept 2026

IPO Closes

COMPLETED

11 Sept 2026

Basis of Allotment

COMPLETED

15 Sept 2026

Refunds

COMPLETED

15 Sept 2026

Demat Credit

COMPLETED

16 Sept 2026

Listing

COMPLETED

IPO Timeline

IPO OpensDONE

08 Sept 2026

IPO ClosesDONE

10 Sept 2026

Basis of AllotmentDONE

11 Sept 2026

RefundsDONE

15 Sept 2026

Demat CreditDONE

15 Sept 2026

ListingDONE

16 Sept 2026

About Glass Wall Systems IPO

Glass Wall Systems IPO open date is September 8, 2026 and the IPO will close on September 10, 2026. Glass Wall Systems IPO is a Book build Issue. The company to raise around ₹427.89 crores via IPO that comprises fresh issue of ₹60 crores and offer for sale up to 2,02,13,722 equity shares with face value of ₹2 each.

Glass Wall Systems IPO price band is ₹172 to ₹182 per share. The retail quota is 35%, QIB is 50%, and HNI is 15%. Glass Wall Systems IPO to list on BSE, NSE on September 16, 2026. The allotment of Glass Wall Systems IPO date is September 11, 2026.

The company reported revenue of ₹471.43 crores in 2026 against ₹288.14 crores in 2025. The company reported profit of ₹83.79 crores in 2026 against profit of ₹57.51 crores in 2025.

IPO Details

Glass Wall Systems IPO Details and Specifications
IPO Date	08 Sept 2026 to 10 Sept 2026
Face Value	₹2 Per Share
Price Band	₹172.00 - ₹182.00
Lot Size	82 Shares
Total Issue Size	Approx 428.00 Cr 2,35,10,425 Equity Shares
Fresh Issue	Approx 60.00 Cr 32,96,703 Equity Shares
Offer for Sale	Approx 368.00 Cr 2,02,13,722 Equity Shares
Retail Portion	35%
Sale Type	Offer for sale
Issue Type	Bookbuilding IPO
Listing Date	16 Sept 2026
Listing At	BSE & NSE
Total Subscription Amount	₹24,456.47 Cr

Issue Reservation

Investor Category	Shares Offered	% Net Issue
QIB	1,17,55,212	50.00%
- Anchor	70,53,127	0.00%
- QIB (Ex. Anchor)	47,02,085	0.00%
NII	35,26,564	15.00%
- bNII > ₹10L	23,51,043	0.00%
- sNII < ₹10L	11,75,521	0.00%
Retail	82,28,649	35.00%
Total	2,35,10,425	100.00%

IPO Lot Size

Application	Lots	Shares	Amount
Individual investors (Retail) (Min)	1	82	₹14,924
Individual investors (Retail) (Max)	13	1,066	₹1,94,012
S-HNI (Min)	14	1,148	₹2,08,936
S-HNI (Max)	67	5,494	₹9,99,908
B-HNI (Min)	68	5,576	₹10,14,832

About Company

Glass Wall Systems (India), founded in 2010, is one of the leading Facade Solutions (exterior glass/wall systems) and fenestration providers (windows/doors) across India and the international market in the United States and Australia. The firm has over 20 years of industry experience and has completed more than 158 projects so far. The company runs 3 main businesses: Domestic Façade Solutions: Designs, makes, supplies, and installs building exteriors for Indian clients. International Façade Products: supplies eco-friendly façade products overseas. Fenestration solutions: Makes premium windows, doors, skylights, and partitions for high-end customers in India. The firm serves its products to various clients, including real estate developers, contractors, hospitals, airport authorities, and corporations in commercial, residential, and institutional projects.

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

+91 22 6103 3456

compliance@glasswallsystem.com

Visit Website

Registrar

MUFG Intime India Pvt Ltd

022-49186000

glasswallsystems.ipo@in.mpms.mufg.com

Lead Managers

IIFL Capital Services Ltd

Motilal Oswal Investment Advisors Ltd

Day-wise GMP Trend

Date & Time	GMP (₹)	Est. Listing Price	Est. Gain (%)	Est. Profit / Lot (₹)
16-Sep-2026 06:00 PM	+₹41	₹223	+22.53%	₹3,362
15-Sep-2026 06:00 PM	+₹52	₹234	+28.57%	₹4,264
14-Sep-2026 06:00 PM	+₹52	₹234	+28.57%	₹4,264
12-Sep-2026 06:00 PM	+₹48	₹230	+26.37%	₹3,936
11-Sep-2026 06:00 PM	+₹45	₹227	+24.73%	₹3,690
10-Sep-2026 06:00 PM	+₹66	₹248	+36.26%	₹5,412
09-Sep-2026 06:00 PM	+₹55	₹237	+30.22%	₹4,510
08-Sep-2026 06:00 PM	+₹55	₹237	+30.22%	₹4,510
07-Sep-2026 06:00 PM	+₹35	₹217	+19.23%	₹2,870
04-Sep-2026 06:00 PM	+₹20	₹202	+10.99%	₹1,640
03-Sep-2026 06:00 PM	+₹15	₹197	+8.24%	₹1,230
02-Sep-2026 06:00 PM	+₹0	₹182	+0.00%	₹0

Subscription Status

Category	Subscription (x)	Shares Offered	Shares bid for	Total Amount (₹ Cr)
QIB (Ex. Anchor)	167.93x	47,02,085	78,96,21,134	₹14,371.10 Cr
NII	79.71x	35,26,564	28,11,14,166	₹5,116.28 Cr
bNII > ₹10L	73.90x	23,51,043	17,37,42,078	₹3,162.11 Cr
sNII < ₹10L	91.34x	11,75,521	10,73,72,088	₹1,954.17 Cr
Retail	33.18x	82,28,649	27,30,26,574	₹4,969.08 Cr
Total	81.65x	1,64,57,298	1,34,37,61,874	₹24,456.47 Cr

Objects of the Issue

01 Funding capital expenditure requirement for setting up of a glass processing unit (“GPU Project”) as part of planned backward integration of the Company at our Vile Bhagad Facility; : 50.00 Cr
02 General Corporate Purposes : 4.63 Cr
03 Issue Expenses : 38.64 Cr

Company Financials

Period Ended	31 MAR 2026	31 MAR 2025	31 MAR 2024
Total Income	471.43	288.14	310.26
Profit After Tax	83.79	57.51	20.25
EBITDA	105.20	73.01	54.70
NET Worth	261.58	175.75	122.60
Reserves and Surplus	242.96	158.88	101.47
Total Borrowing	6.68	8.46	24.85

Amount in ₹ Crore

IPO Valuation - KPI

KPI	31 Mar 2026
ROCE	₹43.01
Debt/Equity Ratio	0.03
Return on Net Worth (RoNW)	₹32.03
PAT Margin	₹18.34
EBITDA Margin	₹23.02
Net Asset Value (NAV)	₹30.91
Earning Per Share (EPS)	₹9.90 (Basic)
Price/Earning P/E Ratio	N/A

Peer Comparison

Company Name	EPS (₹)	P/E (x)	NAV (₹)	RoNW (%)	Income (₹ Cr)
Innovator Façade Systems Limited	7.19	16.54	83.15	8.65	227.52

Promoters and Holding Pattern

Jawahar Hariram Hemrajani, Eshan Jawahar Hemrajani is the company's promoter of Glass Wall Systems.

Particular	Pre IPO	Post IPO
Promoter and Promoter Group	61.52%	53.22%
Others*	38.48%	46.78%

Strengths

Glass Wall Systems is the second-largest facade solutions provider in India as of 2025, with a strong presence in both domestic and international markets.
Track record of working with marquee customers and successfully executing multiple projects with prominent real estate developers and contractors.
The firm has successfully completed multiple international projects like 26-32 Jackson Avenue and Harper Court.
Backed by strong skills in designing and engineering products, with a focus on offering sustainable and high-performing façade solutions.

Risks

For 86.40% of its revenue, the company is dependent on its top 10 customers in FY26. Loss of any of these clients can negatively impact the business operations and cash flow.
Glass Walls depends on a few suppliers for its raw materials, and they do not hold long-term contracts with them. Issues like rising raw material prices, shortages, or supply interruptions can adversely affect the overall business and financial condition.
In FY26, about 45.20% of its revenue comes from international operations. Anything negative that happens in those foreign countries can hurt the business and financial condition.
Its business operations are totally dependent on its manufacturing facility situated in Vile Bhagad, Maharashtra. Any slow down, shutdown, or unexpected production interruption at its manufacturing facility can negatively affect overall business and cash flow.

Frequently Asked Questions (FAQ)

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About Glass Wall Systems IPO

The company reported revenue of ₹471.43 crores in 2026 against ₹288.14 crores in 2025. The company reported profit of ₹83.79 crores in 2026 against profit of ₹57.51 crores in 2025.

IPO Details

Glass Wall Systems IPO Details and Specifications
IPO Date	08 Sept 2026 to 10 Sept 2026
Face Value	₹2 Per Share
Price Band	₹172.00 - ₹182.00
Lot Size	82 Shares
Total Issue Size	Approx 428.00 Cr 2,35,10,425 Equity Shares
Fresh Issue	Approx 60.00 Cr 32,96,703 Equity Shares
Offer for Sale	Approx 368.00 Cr 2,02,13,722 Equity Shares
Retail Portion	35%
Sale Type	Offer for sale
Issue Type	Bookbuilding IPO
Listing Date	16 Sept 2026
Listing At	BSE & NSE
Total Subscription Amount	₹24,456.47 Cr

Investor Category

Shares Offered

% Net Issue

QIB

1,17,55,212

50.00%

- Anchor

70,53,127

0.00%

- QIB (Ex. Anchor)

47,02,085

0.00%

NII

35,26,564

15.00%

- bNII > ₹10L

23,51,043

0.00%

- sNII < ₹10L

11,75,521

0.00%

Retail

82,28,649

35.00%

Total

2,35,10,425

100.00%

Application

Lots

Amount

Individual investors (Retail) (Min)

₹14,924

Individual investors (Retail) (Max)

1,066

₹1,94,012

S-HNI (Min)

1,148

₹2,08,936

S-HNI (Max)

5,494

₹9,99,908

B-HNI (Min)

5,576

₹10,14,832

About Company

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

+91 22 6103 3456

compliance@glasswallsystem.com

Visit Website

Date & Time

GMP (₹)

Est. Listing Price

Est. Gain (%)

Est. Profit / Lot (₹)

16-Sep-2026 06:00 PM

+₹41

₹223

+22.53%

₹3,362

15-Sep-2026 06:00 PM

+₹52

₹234

+28.57%

₹4,264

14-Sep-2026 06:00 PM

+₹52

₹234

+28.57%

₹4,264

12-Sep-2026 06:00 PM

+₹48

₹230

+26.37%

₹3,936

11-Sep-2026 06:00 PM

+₹45

₹227

+24.73%

₹3,690

10-Sep-2026 06:00 PM

+₹66

₹248

+36.26%

₹5,412

09-Sep-2026 06:00 PM

+₹55

₹237

+30.22%

₹4,510

08-Sep-2026 06:00 PM

+₹55

₹237

+30.22%

₹4,510

07-Sep-2026 06:00 PM

+₹35

₹217

+19.23%

₹2,870

04-Sep-2026 06:00 PM

+₹20

₹202

+10.99%

₹1,640

03-Sep-2026 06:00 PM

+₹15

₹197

+8.24%

₹1,230

02-Sep-2026 06:00 PM

+₹0

₹182

+0.00%

₹0

Glass Wall Systems IPO Details

About Glass Wall Systems IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Glass Wall Systems IPO open and close?

What is Glass Wall Systems IPO price band?

What is the Glass Wall Systems IPO lot size?

What is the Glass Wall Systems IPO allotment date?

What is the Glass Wall Systems IPO listing date?

What is the minimum investment required in Glass Wall Systems IPO?

Join the discussion

Glass Wall Systems IPO Details

About Glass Wall Systems IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Glass Wall Systems IPO open and close?

What is Glass Wall Systems IPO price band?

What is the Glass Wall Systems IPO lot size?

What is the Glass Wall Systems IPO allotment date?

What is the Glass Wall Systems IPO listing date?

What is the minimum investment required in Glass Wall Systems IPO?

Join the discussion