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Glass Wall Systems (India), which manufactures and installs facade systems, has filed preliminary papers with markets regulator Securities and Exchange Board of India (SEBI) to mobilise funds through an initial public offering (IPO). The proposed IPO comprises a fresh issue of shares worth Rs 60 crore and an offer-for-sale (OFS) of 4.02 crore shares by promoters and investors India Business Excellence Fund IIA and Vistra ITCL (India).

Proceeds from the fresh issuance will be deployed for setting up of GPU Project as part of its planned backward integration at its Vile Bhagad facility in Maharashtra and general corporate purposes. IIFL Capital and Motilal Investment Advisors have been appointed as book-running lead managers to the issue. 

Glass Wall Systems is a premium facade solutions and fenestration provider in India, the US and Australia. The company provides a diverse array of innovative and customised products, including curtain wall facades, storefront wall facades, frameless facades, luxury windows, doors, skylights, and partition systems. Its key clients include Bagmane, K Raheja and Prestige.