GLEN Industries Ltd IPO

GLEN Industries Limited was originally incorporated as GLEN Stationery Private Limited as a private limited company under the provisions of the Companies Act, 1956, with a Certificate of Incorporation dated October 05, 2007, issued by the Registrar of Companies, West Bengal. The name of the Company was later changed from GLEN Stationery Private Limited to GLEN Industries Private Limited pursuant to a special resolution passed in the Extraordinary General Meeting of the Company on December 01, 2018. Consequently, a fresh Certificate of Incorporation was issued by the Registrar of Companies, Kolkata, on December 13, 2018. Subsequently, the Company was converted from a private limited company to a public limited company pursuant to a special resolution passed in the Extraordinary General Meeting of the Company on June 10, 2024, and the name of the Company was changed from GLEN Industries Private Limited to GLEN Industries Limited. A fresh Certificate of Incorporation was issued to our Company by the Central Processing Centre, Manesar, on August 09, 2024. The Corporate Identification Number of the Company is U21097WB2007PLC119239.

The Global Plastic Packaging Market size is estimated at 103.63 million tons in 2024, and is expected to reach 121.93 Million tons by 2029, growing at a CAGR of 3.31% during the forecast period (2024-2029). Plastic packaging has become a popular choice among consumers due to its durability, flexibility, and cost-effectiveness. This packaging form utilizes plastic films, containers, or other polymer-based materials to create a barrier against external elements, providing a versatile and lightweight solution for packaging a wide range of goods. Plastic containers are becoming essential in the beverage, food, dairy, cosmetics, and pharmaceutical industries. New filling technologies and the emergence of heat-resistant packaging material opened new possibilities and options in the market. While PET bottles are standard in multiple segments, cosmetics, sanitary products, and detergents are predominantly sold in polyethylene (PE) bottles. As per the OECD report, while over 120 countries have implemented bans and taxes on single-use plastics, these measures often fall short of effectively reducing overall pollution. Many regulations primarily target items like plastic bags, which constitute a small fraction of plastic waste, proving more successful in lowering littering than addressing the broader issue of plastic consumption. Furthermore, only a minority of countries have implemented landfill and incineration taxes that provide incentives for recycling, highlighting a global need for more comprehensive strategies to tackle plastic pollution. Several global companies increasingly recognize the urgency of recycling PET into food-grade products, such as beverage containers, which forms a major part of the current demand. This trend can drive the demand for PET across the world. For instance, the Coca-Cola Company intends to use 50% recycled PET in its containers by 2030. Also, Unilever is committed to making 100% of its plastic packaging reusable or recyclable by 2025. The e-commerce, food delivery and quick commerce industry's rapid expansion is expected to create new opportunities for market expansion. To cut the cost of transportation, e-commerce enterprises favour lightweight and flexible packaging options. The industry is anticipated to flourish as more people shop online for fresh foods, FMCG products, electrical devices, and clothing every day. Additionally, more significant opportunities for plastic packaging are anticipated in the coming years due to the growing introduction of innovative packaging solutions, including active packaging, modified environment packaging, edible packaging, and bioplastic packaging. However, the industry's existence is expected to be challenged by growing sustainability awareness and a strict prohibition on single-use plastic to reduce plastic pollution.

The Company is engaged in the manufacturing of diverse range of Food packaging and Service Products primarily Thin Wall Food Containers, Polylactic Acid (PLA) Straws and Paper Straws all mainly supplied to the Hotel, Restaurant, and Caf'/Catering (HoReCa) sector, Beverage industry and food packaging industry. Its extensive product lineup, available in various shapes and sizes, is widely favored by sectors such as the HoReCa industry, Quick Service Restaurants (QSR), the food, beverage and dairy industry, etc. The Company was originally incorporated as Glen Stationery Private Limited for manufacturing all kinds of stationery and printing materials. In the year 2019 the Company commenced manufacturing operation of Thin Wall Food Containers with a production capacity of 195 MT/month and with constant expansion and up-gradation of technology, its capacity currently stands at 665 MT/month running at its maximum capacity. The Company also diversified into manufacturing paper straws and PLA straws in the year 2019 with a modest capacity of 21.75 MT/month and 40.60 MT/month respectively. In the year 2022 the company ventured into manufacturing of U shape straws for the beverage and dairy industry made from Paper and PLA. Present capacity of the PLA straws stands at 160 MT/month and for the paper straws capacity stands at 95 MT/month. The Company reaffirming its dedication to meeting the escalating domestic and international demand with the unveiling of an ambitious project-an advanced manufacturing facility in Dhulagarh, Howrah, West Bengal spanning nearly 90,000 square feet, this facility is poised to be a key asset, empowering the company to elevate its production capacity and fortify its competitive advantage. Its production facility is fully equipped with micro-processor controlled All Electric injection moulding machines imported from Japan and China. Its cutting-edge facility is complemented by its well trained, professional and experienced staff who play a significant role in maintaining the quality. Every stage of operation from inspection of raw materials to production line operations, from printing/labelling & packing to logistics is dominated by an uncompromising adherence to quality standards.