Glass Wall Systems (India) Limited IPO
8 Sept 2026 – 10 Sept 2026
Share Price
- Candle
- 6 Oct
- O
- ₹254.7
- H
- ₹280
- L
- ₹253.8
- C
- ₹275.75
14 trading days since listing · NSE end-of-day prices
Issue Details
- Price Band
- ₹172 – ₹182
- Lot Size
- 82 shares
- Min Investment
- ₹14,924 (1 lot · 82 shares)
- Face Value
- ₹2
- Fresh Issue
- ₹60 Cr (to the company)
- Offer for Sale
- 2,02,13,722 shares (to selling holders)
- Issue Size
- Initial public offer comprising of Fresh Issue aggregating up to Rs. 600 million and Offer for sale of up to 2,02,13,722 Equity shares (Including Anchor Investor Portion of 70,53,127 Equity shares)
- Registrar
- MUFG Intime India Private Limited ↗
Timetable
GMP History
Latest GMP ₹41 · Last updated 7 Oct 2026, 11:51 am IST
| Date | GMP | GMP % | Change | Est. Listing | Updated (IST) |
|---|---|---|---|---|---|
| 15 Sept | ₹41 | +22.5% | −₹11.5 | ₹223 | |
| 14 Sept | ₹52.5 | +28.8% | +₹0.5 | ₹234.5 | |
| 13 Sept | ₹52 | +28.6% | +₹1 | ₹234 | |
| 12 Sept | ₹51 | +28.0% | +₹3 | ₹233 | |
| 11 Sept | ₹48 | +26.4% | +₹3 | ₹230 | |
| 10 Sept | ₹45 | +24.7% | −₹17 | ₹227 | |
| 9 Sept | ₹62 | +34.1% | +₹6 | ₹244 | |
| 8 Sept | ₹56 | +30.8% | +₹10 | ₹238 | |
| 7 Sept | ₹46 | +25.3% | +₹14 | ₹228 | |
| 6 Sept | ₹32 | +17.6% | −₹38 | ₹214 | |
| 5 Sept | ₹70 | +38.5% | +₹5 | ₹252 | |
| 4 Sept | ₹65 | +35.7% | +₹45 | ₹247 | |
| 3 Sept | ₹20 | +11.0% | — | ₹202 |
Subscription
Category-wise bidding
| Category | Offered | Bid for | Times |
|---|---|---|---|
| QIB | 47,02,08528.6% | 51,77,55,052 | 110.11x |
| NII / HNI | 35,26,56421.4% | 22,38,75,252 | 63.48x |
| bNII · bids above ₹10L | 23,51,04314.3% | 14,24,66,882 | 60.6x |
| sNII · bids ₹2L–₹10L | 11,75,5217.1% | 8,14,08,370 | 69.25x |
| Retail | 82,28,64950.0% | 18,97,63,744 | 23.06x |
Bids received on NSE, as at 10-Sep-2026 19:00:45 IST. The two NII rows are parts of the NII total above them, not additions to it.
Day-wise subscription
| Date | QIB | NII / HNI | Retail | Total |
|---|---|---|---|---|
| 10 Sept | — | — | — | 56.59x |
| 9 Sept | 0.30x | 12.41x | 10.96x | 8.22x |
| 8 Sept | 0.01x | 3.02x | 3.74x | 2.52x |
Financials
All values in ₹ crore
About Glass Wall Systems (India)
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, 2025, has completed more than 150 projects. Its business is structured across three verticals: Domestic Façade Solutions – Design, engineering, fabrication, supply, installation, and EPC services for real estate developers, contractors, and corporate clients. International Façade Products Supply – Supply of sustainable façade products, tailored to contractors and façade companies overseas. 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, 2025, the company employed 289 permanent staff.
As published in the company's own offer documents.
Lead Managers
- IIFL Capital Services Limited (Formerly known as IIFL Securities Limited)
- Motilal Oswal Investment Advisors Limited
Offer details
Application sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min)one lot, the smallest bid allowed | 1 | 82 | ₹14,924 |
| Retail (max)most that stays under ₹2L | 13 | 1,066 | ₹1,94,012 |
| S-HNI (min)first bid over ₹2L | 14 | 1,148 | ₹2,08,936 |
| S-HNI (max)most that stays under ₹10L | 67 | 5,494 | ₹9,99,908 |
| B-HNI (min)first bid over ₹10L | 68 | 5,576 | ₹10,14,832 |
Priced at the top of the band, which is what a cut-off bid pays. Retail ends at ₹2,00,000 and S-HNI at ₹10,00,000; these are SEBI's limits, not the issuer's.
Issue mechanics
- Issue Type
- Book Building
- Minimum Order
- 82 Equity Shares
- Categories
- FI, IC, MF, FII, OTH, CO, IND, and NOH
- UPI Eligible
- IND (upto 5 Lakhs)
- Max Bid (Retail)
- Rs. 2,00,000
- Max Bid (QIB)
- 1,64,57,236 Equity Shares in multiple of 82 Equity Shares
- Max Bid (NII)
- 1,17,55,192 Equity Shares in multiple of 82 Equity Shares
- Tick Size
- Re. 1
- Bidding Hours
- 10.00 a.m. to 5.00 p.m.
- UPI Mandate Cut-off
- 10-Sep-2026 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability
- Sponsor Bank
- HDFC Bank Limited and ICICI Bank Limited
Registrar
- Name
- MUFG Intime India Private Limited
- Address
- C-101, Embassy 247 L.B.S. Marg, Vikhroli (West) Mumbai 400 083 Maharashtra, India
- Contact
- Shanti Gopalkrishnan, +91 810 811 4949, glasswallsystems.ipo@in.mpms.mufg.com
Documents
- Red Herring ProspectusThe full offer documentPDF
- Basis of Issue PriceHow the band was arrived atPDF
- Anchor AllocationWho was allotted before the issue openedPDF
- Application FormThe blank ASBA form, as filedPDF
- Bidding CentresWhere a physical form can be handed inPDF
- Security ParametersTick size, lot and limits as filed with the exchangePDF
- Security Parameters (post-anchor)The same, restated after the anchor book closedPDF
Published by NSE as ZIP archives; opened here as the PDF inside.
Collected from NSE and public sources. Always confirm against the prospectus before applying.
Frequently Asked Questions
What is the GMP of Glass Wall Systems (India) Limited IPO today?
The latest grey market premium for Glass Wall Systems (India) Limited IPO is ₹41. GMP is unofficial and indicative only — it is not a guarantee of listing price.
What is the price band of Glass Wall Systems (India) Limited IPO?
The price band is ₹172 – ₹182, with a lot size of 82 shares. The minimum investment is ₹14,924.
When does Glass Wall Systems (India) Limited IPO open and close?
The issue opens on 8 Sept 2026 and closes on 10 Sept 2026. Listing is expected on 16 Sept 2026.
Who is the registrar for Glass Wall Systems (India) Limited IPO?
MUFG Intime India Private Limited is the registrar. Allotment status can be checked on the registrar's website once allotment is finalised.