GLEN Industries IPO allotment in focus: The initial public offering (IPO) of GLEN Industries, engaged in manufacturing eco-friendly food packaging and service products, closed with a strong demand from investors. Following the closure of the GLEN Industries IPO, investors are now focused on the GLEN Industries IPO allotment. GLEN Industries IPO was open for a three-day bidding period, starting on July 8 and ending on July 10. GLEN Industries IPO allotment date is Friday, July 11, and the GLEN Industries IPO listing date is expected to be Tuesday, July 15.
GLEN Industries IPO, worth ₹63.02 crore, was entirely a fresh issue of 64.97 lakh shares. The shares of GLEN Industries IPO were available in a price band of ₹92 to ₹97 per share. Investors could bid for 1200 shares in one lot.
GLEN Industries IPO saw a heavy demand, amid a strong trend visible in the grey market premium (GMP).
GLEN Industries IPO Subscription Status
GLEN Industries IPO subscription status stood at 260.28 times at the end of the third day, with the issue garnering 113.78 crore shares as against 43.71 lakh shares on offer.
The retail portion was booked 255.15 times, followed by the NII portion that garnered 476.25 times bids and the QIB portion that closed with 192.46 times subscription.
GLEN Industries IPO GMP
GLEN Industries IPO GMP today is ₹45 per share. This means shares of GLEN Industries are trading at ₹45 above the issue price of ₹97 in the grey market. At the prevailing GMP, GLEN Industries IPO shares could list at ₹142, a premium of 46%.
GMPs signal investor willingness to buy its shares at a premium or discount to the IPO price. However, investors must note that grey market premiums are subject to change ahead of the listing. One should consider the company’s fundamentals and risk appetite before investing.
GLEN Industries IPO Allotment Date
The allotment for the IPO tends to be finalised the next day after the closure of the public offer. Since GLEN Industries IPO closed for subscription on Thursday, July 11, the allotment date for GLEN Industries IPO will be out today, July 12.
Since the GLEN Industries IPO allotment status is expected to be finalised today, here’s a look at how investors can check the status. To check GLEN Industries IPO allotment status online, one can do so through the BSE website. One other way to check IPO status is through the official portal of the IPO registrar, which is KFin Technologies.
GLEN Industries IPO Allotment: Steps to check status on BSE
1. Head to the BSE website by clicking on this link: https://www.bseindia.com/investors/appli_check.aspx
2. Select ‘Equity’ as Issue Type
3. Choose GLEN Industries in the dropdown for Issue Name
4. Enter either your application number or PAN details
5. Verify by ticking on ‘I am not robot’ and then click on ‘Search’
GLEN Industries IPO Allotment: Steps to check status on registrar’s website
1. Head to the KFin Tech’s website using the link: https://ipostatus.kfintech.com/
2. Select the company name as GLEN Industries from IPO dropdown
3. Select any of the three options: Application Number/demat account/PAN
4. Enter the details pertaining to the option picked
5. Enter Captcha and hit Submit
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
