Glottis Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹120 - ₹129
- Lot size
- 114 shares
- Issue amount
- ₹307 cr
- Total subscription
- 2.12×
- Opens
- 29 Sept 2025
- Closes
- 1 Oct 2025
- Allotment
- 3 Oct 2025
- Listing
- 7 Oct 2025
Offer at a glance
Issue overview
- Issue size
- 2,37,98,741 shares
- Face value
- ₹2 Per Share
- Minimum investment
- ₹13,680
- Fresh issue
- ₹160 cr
- Offer for sale
- ₹147 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,706
- Issue type
- Bookbuilding IPO
- Shares before issue
- 8,00,00,000
- Shares after issue
- 9,24,03,100
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 114 | ₹14,706 |
| sHNI | 14 | 1,596 | ₹2,05,884 |
| bHNI | 68 | 7,752 | ₹10,00,008 |
Share reservation
Subscription & GMP
Subscription by category
Reported 1 Oct 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 83,504 | 1,03,853 |
| HNIs(10L +) | 2,982 | 2,086 |
| HNIs (2-10L) | 1,491 | 2,336 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 36.84 | 67.88 |
| FIIs | 0 | 41.52 |
| FIs | 0 | 0.02 |
| Others | 0 | 26.34 |
| RETAIL | 122.8 | 180.96 |
| HNIs 2+ | 30.7 | 52.39 |
| HNIs 10+ | 61.4 | 231.45 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 7.02 | 3.87 | 65.92 |
| ROE | 56.98 | 73.1 | 194.82 |
| ROCE | 72.58 | 95.91 | 256.67 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 18.38 | 0 | 0 |
| POST IPO(PE) | 21.23 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Allcargo Logistics Limited | 17.95 | 31.44 | 2.00 | 24.65 | 2.03 | 1.75 |
| Glottis Limited | NA | NA | 2.00 | 12.32 | 56.98 | 7.02 |
| Transport Corporation of India Limited | 25.6 | 1,156.50 | 2.00 | 279.65 | 19.42 | 53.43 |
Company information
Company profile
Glottis Limited, incorporated in June 2024, is a logistics solutions provider offering a full range of transportation services across ocean, air, and road networks. The company delivers end-to-end multimodal logistics solutions, including freight forwarding, warehousing, cargo handling, 3PL, and customs clearance, serving diverse sectors and regions. In FY 2024, it handled about 95,000 TEUs of ocean imports, highlighting its strong operational scale. Headquartered in Chennai with eight branch offices in key cities like New Delhi, Mumbai, and Kolkata, Glottis has built a global presence, exporting to regions such as Europe, North and South America, Africa, the Middle East, and Asia. Its customer base has steadily expanded, serving 1,246 clients in the six months ended September 2024, and over 1,600 in FY 2024, across more than 100 countries. The company’s robust network includes 171 overseas agents, 98 shipping lines, 52 transporters, 43 customs house agents, 22 airlines, and 20 consol agents, along with 17 owned commercial vehicles, giving it the capacity to meet growing demand and capitalize on large-scale opportunities in the logistics industry.
Strengths
- Leadership in Renewable Energy Logistics: A recognized leader in delivering logistics solutions for the fast-growing renewable energy sector.
- Efficient and Reliable Network: A strong mix of intermediaries and owned assets ensures smooth and dependable operations.
- Expertise in Multimodal Transport: Capable of handling complex projects through integrated ocean, air, and road logistics.
Risk factors
- Heavy Reliance on Ocean Freight: More than 94–97% of revenue comes from ocean freight. Losing contracts or failing to renew them could significantly impact business.
- Rising Credit and Collection Risks: Longer credit periods (27 days in FY23 to 41 days in FY25) and increasing bad debts show higher risk of delayed payments and customer defaults.
- Operational Challenges with Owned Assets: Moving from rented to owned vehicles and containers may create maintenance issues and inefficiencies, affecting profitability.
Promoters
Ramkumar Senthilvel
Kuttappan Manikandan
Registrar & documents
Lead manager
Pantomath Capital Advisors Private Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
New No. 46, Old No. 311 1st Floor Thambu Chetty Street Chennai, Tamil Nadu, 600001
+91 444266 5587
[email protected]Company website ↗Understanding GLOTTIS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.