• Retail portion subscribed 3.75 times on Day 1
  • Issue closes on Thursday, September 10, 2026, for bidding

Mumbai: The Initial Public Offering of Glass Wall Systems (India) Limited was subscribed 2.52 times on the first day of bidding, demonstrating strong demand from retail and non-institutional investors for this IPO.

The issue received bids of 4,15,50,220 equity shares against the offered 1,64,57,298 equity shares, according to data available on the stock exchanges.

Retail Portion and Non-institutional portion were subscribed 3.75 times and 3.02 times, respectively. Qualified Institutional Buyers (QIB) was subscribed 0.01 times.

The issue kicked off for subscription on Tuesday, September 08, 2026, and will close for subscription on Thursday, September 10, 2026.

A day before the opening of the issue, Glass Wall Systems (India) Limited had raised nearly Rs 128.4 crore from anchor investors.

Brokerage houses recommend Glass Wall Systems (India) Limited

Leading brokerage firms like Anand Rathi, Arihant Capital, BP Wealth, SBI Securities and Ventura Securities have given their “Subscribe” recommendation to Glass Wall Systems, which is a premium façade solutions and fenestration provider in India and across markets in the USA and Australia

Anand Rathi highlights the company is a premium façade solutions and fenestration provider serving the Indian market as well as international markets including the USA and Australia.

On the valuation front, at the upper price band, the company is valued at a P/E of 19.1 times based on its FY26 earnings and EV/EBITDA of 14.47 times. Recommend “Subscribe – Long Term”.

SBI Securities highlights the company provides integrated façade solutions covering design, engineering, procurement, manufacturing, assembly, testing, supply and installation for commercial, residential and institutional projects, while its international business primarily supplies customized façade products to overseas façade contractors.

On the valuation front, at the upper price band of Rs 182, the company is valued at a post-issue FY26 P/E of 19.1 times. Considering its market position, technical expertise, strong earnings growth, order-book visibility and backward integration, recommend “Subscribe – Long Term”.