Glottis IPO

Glottis IPO is a bookbuilt issue of ₹307.00 crore. It combines a fresh issue of 1.24 crore shares aggregating to ₹160.00 crore and an offer for sale of 1.14 crore shares aggregating to ₹147.00 crore.

The IPO opens for subscription on September 29, 2025, and closes on October 1, 2025. The allotment is expected to be finalized on Friday, October 3, 2025. The price band for the IPO is set at ₹120 to ₹129 per share, and the minimum lot size for an application is 114 shares. 

Company Summary

Incorporated in June 2004, Glottis Limited is a logistics solutions company that offers comprehensive transportation services through ocean, air, and road logistics.

The company provides end-to-end logistics solutions with multimodal capabilities across various sectors, optimizing the movement of goods across different regions. Our services include:

  • Ocean freight forwarding, including project cargo loads and full container loads for both import and export
  • Air freight forwarding for both import and export
  • Road transportation
  • Ancillary services such as warehousing, storage, cargo handling, third-party logistics (3PL), and customs clearance

During Fiscal Year 2024, Glottis Limited handled approximately 95,000 TEUs of imports via ocean freight.

As of Feb 2025, the company operates in India through 8 branch offices in New Delhi, Gandhidham, Kolkata, Mumbai, Tuticorin, Coimbatore, Bengaluru, and Cochin, with registered and corporate offices in Chennai, covering major transportation hubs.

The company has exported its products to countries such as Europe, North America, South America, Africa, the Middle East, and Asia.

For the six months ended September 2024 and for Fiscals 2024, 2023, and 2022, the company served 1,246, 1,662, 1,513, and 1,476 customers across 119, 100, 87, and 85 countries, respectively.

As of January 10, 2025, the company had a network of 171 overseas agents, 98 shipping lines, 52 transporters, 43 customs house agents, 22 airlines, and 20 consol agents, built on longstanding relationships.

As of January 10, 2025, the company owns 17 commercial vehicles. Our extensive vehicle and agency network allows us to scale with increasing demand and seize large business opportunities.

Company Strengths

  • One of the leading freight forwarding players operating in the Renewable Energy Industry
  • Wide network of Intermediaries coupled with optimum utilisation of our asset portfolio.
  • Scaled multimodal logistics operations with capabilities of handling diverse projects.
  • Longstanding relationship with a diverse set of customers across industries.
  • Widespread international presence.
  • Skilled and experienced management team with relevant industry experience.

Company Financials

Period Ended31 Mar 202531 Mar 202431 Mar 2023
Assets156.181.7272.08
Total Income942.55499.39478.77
Profit After Tax56.1430.9622.44
EBITDA78.4540.3933.47
Net Worth98.5342.3511.52
Reserves and Surplus82.5341.3510.52
Total Borrowing22.148.0830.61
                                                                                                                                                                                                 Amount in ₹ Crore

Objectives of IPO

  • Funding of capital expenditure requirements of our Company towards the purchase of commercial vehicles and containers
  • General Corporate Purposes

Promoters of the company

The Promoters of the company are Ramkumar Senthilvel and Kuttappan Manikandan.

IPO Details

IPO DateSeptember 29, 2025 to October 1, 2025
Listing DateOctober 7, 2025
Face Value₹2 per share
Price Band₹120 to ₹129 per share
Lot size114 shares
Total Issue size2,37,98,740 shares (aggregating upto ₹307.00 Cr )
Fresh Issue1,24,03,100 shares (aggregating upto ₹160.00 Cr )
Offer for Sale1,13,95,640 shares of ₹2 (aggregating upto ₹147.00 Cr )
Issue typeBookbuilding IPO
Listing atNSE, BSE
Share Holding Pre Issue8,00,00,000 shares
Share Holding Post Issue9,24,03,100 shares

Lot Allocation Details

ApplicationLotsSharesAmount
Retail (Min)1114₹14,706.00
Retail (Max)131,482₹1,91,178.00
S-HNI (Min)141,596₹2,05,884.00
S-HNI (Max)677,638₹9,85,302.00
B-HNI (Min)687,752₹10,00,008.00

Allotment Schedule

Basis of AllotmentFri, 3 Oct, 2025
Initiation of RefundsMon, 6 Oct, 2025
Credit of Shares to DematMon, 6 Oct, 2025
Tentative Listing DateTue, 7 Oct, 2025
Cut-off time for UPI mandate confirmation5 PM on October 1, 2025

IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot more than 30% of the Offer
Retail Shares OfferedNot less than 40% of the Offer
NII Shares OfferedNot less than 30% of the Offer

Source – SEBI, Chittorgarh

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