Glass Wall Systems Files for Rs 60 Crore IPO, Aims to Expand Manufacturing Capacity
Glass Wall Systems (India) Ltd, a Mumbai-based facade solutions company, has filed draft papers with SEBI for an IPO. The offering includes a fresh issue of shares worth Rs 60 crore and an OFS of 4.02 crore shares. Funds will be used for a GPU Project and corporate purposes. The company operates in India, US, and Australia, with over 150 completed projects. It reported a net profit of Rs 44 crore and revenue of Rs 245 crore. The current order book stands at Rs 422 crore domestic and Rs 135.40 crore international. IIFL Capital and Motilal Investment Advisors are the lead managers.
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Glass Wall Systems (India) Ltd, a Mumbai-based facade solutions company, has taken a significant step towards going public by filing draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company aims to raise funds through a combination of fresh issue and offer-for-sale (OFS).
IPO Structure
The proposed IPO comprises two components:
- A fresh issue of shares worth Rs 60.00 crore
- An offer-for-sale (OFS) of 4.02 crore shares by promoters and investors
Use of Proceeds
The company plans to utilize the funds raised from the fresh issue for:
- Setting up a GPU Project at its Vile Bhagad facility in Maharashtra
- General corporate purposes
Company Overview
Glass Wall Systems operates in multiple countries, including:
- India
- United States
- Australia
The company has a strong track record with over 150 completed projects. Its client portfolio includes prominent names in the real estate sector such as Bagmane, K Raheja, and Prestige.
Financial Performance
Glass Wall Systems reported the following financial results:
| Metric | Amount (in Rs crore) |
|---|---|
| Net profit | 44.00 |
| Revenue | 245.00 |
Order Book
The company's current order book stands at:
| Order Type | Amount (in Rs crore) |
|---|---|
| Domestic | 422.00 |
| International | 135.40 |
IPO Management
The book-running lead managers for the IPO are:
- IIFL Capital
- Motilal Investment Advisors
This IPO represents a significant opportunity for Glass Wall Systems to expand its manufacturing capabilities and strengthen its position in the facade solutions market.
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