Glass Wall Systems Files DRHP with SEBI for IPO, Plans to Raise ?60 Crore by Fresh Issue

Mumbai-based Glass Wall Systems has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The company plans to raise ?60 crore through a fresh issue, while the promoters and investors will be selling up to 4.02 crore equity shares via offer-for-sale (OFS).

Jawahar Hariram Hemrajani, Eshan Jawahar Hemrajani, Amit Jawahar Hemrajani, and Vinne Jawahar Hemrajani are the promoters selling shareholders for the Glass Wall Systems IPO. Other investors selling shares are India Business Excellence Fund IIA and Vistra ITCL (India) Limited.?

Glass Wall Systems - IPO Details

According to the DRHP,?

• Glass Wall Systems IPO will be a bookbuilding IPO consisting of a fresh issue of ?60 crore and an offer for sale (OFS) of 4.02 crore equity shares of face value of ?2 each.
• The equity shares are proposed to be listed on the super娛樂城 (NSE) and BSE, as per the DRHP. The company will determine the price band and minimum bid lot for the IPO in consultation with the book-running lead manager.
• IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and Motilal Oswal Investment Advisors Limited are the book-running lead managers of the public issue.
• MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) will be the registrar for the IPO.

Utilisation of Proceeds

The Company proposes to utilise the Net Proceeds from the issue for the following purposes:

• Funding capital expenditure requirement for setting up a glass processing unit (“GPU Project”) as part of the planned backwards integration of the Company at the Vile Bhagad Facility.
• General corporate purposes.

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About Glass Wall Systems Ltd

Glass Wall Systems Ltd is a premium facade solutions and fenestration specialist headquartered in Mumbai, offering turnkey architectural glass & metal facade works across India, with growing international operations in the USA and Australia. It is ranked as the second-largest facade solutions provider in India by revenue for FY24–25, and the leading exporter in the sector in 2024.

The company reported revenues of ?244.7 crore in FY25 (down from ?282 cr in FY24) but delivered strong profitability, with PAT rising to ?43.8 crore from ?11.9 crore in the same period.

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