Glottis was incorporated on June 19, 2006. The company is a leading multi-modal logistics provider specialising in energy supply chain solutions. It offers end-to-end logistics, with capabilities in ocean and air freight forwarding, road transportation, and ancillary services such as warehousing and customs clearance.
| Bidding Dates |
|---|
| 29 Sep 2025 - 01 Oct 2025 |
| Subscription |
|---|
| 2.05x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,680 | 1 | 13 | 114 | 23.8 M | ₹120 - ₹129 | 74.23 % | ₹2855.8 M - ₹3070.0 M | RHP DOC |
Glottis IPO SUBSCRIPTION STATUS
01 Oct '25Glottis IPO overall subscription rate was 2.05 times the total available shares
Glottis IPO retail subscription rate was 1.42 times in the retail segment
Glottis IPO non-institutional investor subscription rate was 2.97 times in the non-institutional investor category
Glottis IPO Qualified Institutional Bidder subscription rate was 1.87 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 40% | 30% | 30% |
01 Oct 2025 (Day 3) | 1.42x | 2.97x | 1.87x |
30 Sep 2025 (Day 2) | 0.58x | 1.08x | 1.79x |
29 Sep 2025 (Day 1) | 0.22x | 0.16x | 1.79x |
Glottis FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 941.2 | 56.1 | 1.1 | -9.9 | 8.34% |
| FY24 | 497.2 | 31.0 | 6.8 | 5.3 | 8.12% |
| FY23 | 478.3 | 22.4 | 25.2 | 24.9 | 7.00% |
Glottis IPO SUBSCRIPTION STATUS DETAILS
Glottis had 23.8 M shares on offer
Glottis IPO offer price was in the range ₹120 - ₹129
Glottis IPO minimum Investment was ₹13680
Glottis IPO issue size was ₹ 2855.8 M - ₹ 3070.0 M
Glottis had a minimum lot size of 114 Shares per application
Glottis NUMBER OF SHARES ON OFFER
Glottis IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2025 |
| Issue close Date | 01 Oct 2025 |
| Allotment Date | 03 Oct 2025 |
| Refund Date | 06 Oct 2025 |
| Demat Account Credit Date | 06 Oct 2025 |
| Listing Date | 07 Oct 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Glottis Allotment Status | Exchange/ Registrar |
Glottis IPO subscription opened on 29 Sep 2025, and closed on 01 Oct 2025
IPO allotment for Glottis was finalized on Friday, 03 Oct 2025
IPO listing for Glottis was on NSE and BSE on Tuesday, 07 Oct 2025
Glottis IPO LISTING GAINS
| Issue Price (adjusted) | 129.0 |
| Listing Open Price | 84.0 |
| Listing Close Price | 83.7 |
| Listing Gain% | -34.9% |
| Current Gain% | -49.4% |
Glottis Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Glottis Ltd. | 65.2 | 602.9 | 16.5 | -0.5 | 0.8 | 13.4 | 10.3 | 729.4 | -22.6 | 37.7 | -32.8 | 3.9 | -36.4 |
| Container Corporation of India Ltd. | 520.4 | 39638.4 | 31.9 | -7.5 | 4.4 | 9.6 | 8.2 | 9443.2 | 1.2 | 1241.8 | -3.6 | 16.3 | -4.2 |
| Delhivery Ltd. | 469.4 | 35156.9 | 375.9 | -7.1 | 3.2 | 1.6 | 1.2 | 10867 | 16 | 152.7 | -5.8 | 1.2 | -52.9 |
| Shadowfax Technologies Ltd. | 250 | 14634.2 | 86.5 | 3.1 | 6.4 | 3.9 | 4238.6 | 68.6 | 111.7 | 1638.4 | 2.9 | ||
| Blue Dart Express Ltd. | 5086 | 12068 | 42 | 2.7 | 1.9 | 13.9 | 6 | 6182.8 | 7.3 | 247.4 | -2 | 121 | 15.8 |
| VRL Logistics Ltd. | 305 | 5335.6 | 20 | 0.9 | 1.6 | 20.7 | 9.1 | 3244.8 | 1.8 | 236.8 | 29.5 | 15.3 | 21.8 |
Glottis INFORMATION ON IPO ISSUE
About Glottis
Glottis was incorporated on June 19, 2006. The company is a leading multi-modal logistics provider specialising in energy supply chain solutions. It offers end-to-end logistics, with capabilities in ocean and air freight forwarding, road transportation, and ancillary services such as warehousing and customs clearance.
Object of the Issue
- Funding of capital expenditure requirements of the company towards the purchase of goods transportation vehicles
- Repayment and/or pre-payment, in part or in full, of certain borrowings availed by the company
- Funding inorganic growth through unidentified acquisitions and general corporate purposes
Glottis - PROMOTERS
| Name |
|---|
| Ramkumar Senthilvel |
| Kuttappan Manikandan |
Glottis - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Ramkumar Senthilvel | Managing Director |
| Kuttappan Manikandan | Managing Director |
| Thirumazhisai Puttam Shridar | Non-Executive Director |
| Naveen Mehta | Independent Director |
| Aruna Subbaraman | Independent Director |
| Vijaya Kumar Partha Sarathy | Independent Director |
Glottis Book Running Lead Managers
Pantomath Capital Advisors Private Limited
glottis.ipo@pantomathgroup.com
Glottis Registrar to the Offer
KFin Technologies Limited
glottisltd.ipo@kfintech.com
Glottis Strengths
Out of gauge projects
Out of Gauge Cargo (OOG) refers to cargo that cannot fit into standard shipping containers due to its unusual dimensions. As part of this project, the company successfully handled 46 over-dimensional cargo shipments containing specialised solar equipment, ensuring meticulous planning and coordination to minimise risks and delays from origin to destination
Widespread international presence
The company operates in Asia, North America, Europe, South America, Africa, and Australia, with activities in 100, 87, and 85 countries for FY22, FY23, and FY24, respectively
Multimodal logistics
The company offers multimodal logistics services across various sectors, including ocean and air freight forwarding, road transportation, and ancillary services like warehousing and customs clearance
Glottis Risks
Dependent on renewable energy
The company derives 42.4% of its revenue from the renewable energy industry in FY24, making its operations dependent on this sector. A downturn in renewable energy or related industries could negatively impact revenue, cash flows, and financial conditions
Dependent on limited number of customers
The company relies on a limited number of customers for most of its revenue, creating a high risk of customer concentration. A decline in revenue from these customers could significantly impact its business, operations, cash flows, and financial condition
Fluctuation in freight rates
Freight and transportation costs are influenced by factors such as fuel prices, taxes (including import/export taxes), and supply and demand for cargo space on carriers. Many of these factors are beyond the company's control
IPO FAQs
This IPO consists of an offer for sale of up to Rs 147.0 crore, of 11,395,640 shares. It also consists of a fresh issue of Rs 160.0 crore.
The promoters of the company are Ramkumar Senthilvel and Kuttappan Manikandan.
The category allocation of qualified institutional buyers is 30.0%, the category allocation of non individual investors or high networth individuals is 30.0% and for retail investors it is 40.0%.
The price band of the IPO is Rs 120.0 - 129.0.
The IPO application opens on Sep 29, 2025 and closes on Oct 01, 2025.
The minimum lot size for the IPO is 114. The maximum lot size for the IPO is 1482.
For all category investors, the minimum application amount for this IPO is Rs. 13,680.0, the maximum value for this IPO is Rs 191,178.0.
This IPO will be allotted on Oct 03, 2025.
The refund will be credited to your account on Oct 06, 2025.
The allotted shares will be credited to your demat on Oct 06, 2025.
Glottis Ltd.’s shares listed on the stock exchanges on Oct 07, 2025.