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Glass Wall Systems (India) Ltd, a major player in the façade and fenestration solutions sector, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). The company intends to raise INR 60 crore via a fresh issue of equity shares and an Offer For Sale (OFS) of 4.02 crore shares by existing promoters and investors. The funds will be directed towards establishing a GPU project at its Vile Bhagad facility in Maharashtra and supporting general corporate purposes. With over 150 projects completed domestically and internationally, the IPO is expected to strengthen its market presence and financial position.
Glass Wall Systems (India) Ltd, known for its façade and fenestration solutions, has moved ahead with plans to go public by filing a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company seeks to raise INR 60 crore through a fresh issue of equity shares and plans an Offer For Sale (OFS) of up to 4.02 crore shares by its existing promoters and investors, including India Business Excellence Fund IIA and Vistra ITCL (India) Ltd. Advertisement
The proceeds from the fresh issue will primarily fund the establishment of a GPU project at the company's Vile Bhagad facility in Maharashtra, forming a key part of its backward integration strategy. Additional funds will support general corporate purposes, helping the company strengthen operations and invest in technology and production capabilities.
Founded over 20 years ago, Glass Wall Systems has executed more than 150 projects across India, the United States, and Australia. Its product range includes curtain wall facades, storefront wall facades, frameless facades, luxury windows, doors, skylights, and partition systems. The company has served prominent clients such as Bagmane, K Raheja, and Prestige, reflecting a strong presence in both commercial and residential projects.
As of March 31, 2025, the company reported a net profit of INR 44 crore and revenue from operations of INR 245 crore. Its primary manufacturing facility at Vile Bhagad has an installed capacity of 140 panels per month. By the end of August 2025, Glass Wall Systems' domestic façade solutions order book stood at INR 422 crore, while its international orders for façade products totaled INR 135.4 crore, indicating a healthy pipeline of upcoming projects.
IIFL Capital and Motilal Investment Advisors have been appointed as the book-running lead managers for the IPO, tasked with guiding the process and ensuring investor participation.
Source: PTI
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