Glass Wall Systems (India) Ltd., a premium façade and fenestration solutions provider, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).
The IPO comprises a fresh issue of shares worth INR 60 crore and an offer-for-sale of 40.23 million shares by promoters Jawahar Hemrajani, Eshan Hemrajani, Amit Hemrajani, Vinne Hemrajani, and investors India Business Excellence Fund IIA and Vistra ITCL (India) Ltd. Proceeds will be used for a glass processing unit at Vile Bhagad, Maharashtra (INR 50 crore) and general corporate purposes.
Glass Wall Systems is India’s second-largest façade solutions provider and the largest façade exporter in 2024 (Ken Report). With two decades of experience, it has completed over 150 projects, including The Capital, Lodha World One, and Bagmane Rio in India, and international projects in the USA and Australia.
The company reported FY25 revenue of INR 244.7 crore and net profit of INR 43.8 crore.
