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Mumbai-based Glass Wall Systems (India) Ltd. has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).
The offer, with a face value of Rs2, is a mix of fresh issue of shares up to Rs60 crore and an offer-for-sale up to 40,234,552 shares by promoters – Jawahar Hariram Hemrajani, Eshan Jawahar Hemrajani, Amit Jawahar Hemrajani and Vinne Jawahar Hemrajani. Other investors selling shares are India Business Excellence Fund IIA and Vistra ITCL (India) Limited.
The offer also includes a subscription reservation by eligible employees, and a discount is being offered to eligible employees bidding in the employee reservation portion.
The proceeds from its fresh issuance worth Rs60 crore will be utilised for funding capital expenditure requirement for setting up of GPU Project as part of its planned backward integration at its Vile Bhagad, Maharashtra facility for Rs50 crore and general corporate purposes.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.
Glass Wall Systems (India) Ltd. is a premium façade solutions and fenestration provider in India, USA and Australia. The company is the second-largest provider of façade solutions in India in terms of revenue in Fiscal 2025 and Fiscal 2024. (Source: Ken Report)
The company is also India’s largest façade exporter in 2024 in terms of revenue. (Source: Ken Report) And with over two decades of experience in the façade solutions industry, the company has successfully completed over 150 projects, as of March 31, 2025.
The façade and fenestration sector serves as the critical interface between a building’s interior and its external environment, combining advanced materials, precision engineering and architectural design to deliver both form and function. (Source: Ken Report)
The company’s operations are categorized into three main verticals –
- Domestic Façade Solutions – The company primarily undertakes engineering, procurement, and construction (EPC) and manufacturing services for façade solutions to its clients
- International Façade Products Supply – The company is focused on providing design, engineering, fabrication and manufacturing and supply of sustainable façade products tailored to specific requirements of general contractors and façade contracting companies
- Fenestration Solutions – The company specialises in premium fenestration solutions, including custom-designed luxury windows, doors, skylights, and partition systems, tailored to the luxury sector of the Indian real estate market
The company provides a diverse array of innovative and customized products, including façade and curtain wall systems, bolted façades, skylights, canopies, and space frames, louvers, rain screen cladding, diagrids, and aluminium doors and windows.
