Glass Wall Systems (India)
Designer, maker and installer of building façades and premium windows and doors, working in India, the US and Australia.
Last updated 24 Sept 2026, 1:18 pm IST
- Price band
- ₹172 – ₹182
- Lot size
- 82
- Issue size
- ₹427.89 Cr (₹60 Cr fresh + ₹367.89 Cr OFS)
- Opens
- 8 Sept 2026
- Closes
- 10 Sept 2026
- Exchange
- Both
The numbers
- GMP
- ₹52 (~28.6%) (14 Sep, 8:30 AM; was ₹45 on 11 Sep)
- Subscription
- 81.65× (final)
- Listing gain
- NSE +6.6% / BSE +4.5% (16 Sep)
- Listing date
- 16 Sept 2026
- Model prediction
- ~+33% expected → Strong Subscribe. Listed +6.6% NSE / +4.5% BSE (16 Sep), rallied to close day 1 at +18.0%; call overshot.
The Ticker Tales take
Glass Wall Systems designs, makes and installs building façades and premium windows and doors, working in India, the US and Australia. Most of the ₹427.89 crore issue was an offer for sale (₹367.89 crore), so existing owners were the main beneficiaries and only ₹60 crore was fresh money. Demand finished very strong all the same at 81.65 times covered, with institutions at 167.93 times. We expected a strong listing — a pop of around 33%. It listed on 16 September at ₹194 on NSE, up just 6.6%, and ₹190.10 on BSE, up 4.5%, then rallied steadily to close at ₹214.85, up 18.0%. Direction right, size wrong: we read the grey market premium of about 29% as a floor for the open, and it turned out to be a ceiling for the whole day.
More details
- Sector
- Building façades & fenestration
- Issue type
- Book-built (₹60 Cr fresh + ₹367.89 Cr OFS)
- Subsidiary
- Yes Systems (windows & doors)
- Anil Singhvi - Long-term call
- Not clearly stated
- Anil Singhvi - Listing-gain call
- Not clearly stated
Want a heads-up when a new IPO opens?
We'll email you when one opens — and only then.
No spam, ever. Leave whenever you like.
Calls here follow a set formula (GMP, subscription trends) plus Anil Singhvi's publicly shared view — not investment advice. Please do your own research before investing.