Glottis IPO
Bookbuilding IPO | ₹307.00 Cr | Listing at BSE, NSE
IPO Open
Mon, Sep 29, 2025
IPO Close
Wed, Oct 01, 2025
Price Band
₹120.00 to ₹129.00
Market Cap (Pre-IPO)
₹1,192.00 Cr
IPO Details
| IPO Date | Sep 29, 2025 to Oct 01, 2025 |
| Listing Date | Tentative: Oct 07, 2025 |
| Face Value | ₹2.00 per share |
| Price Band | ₹120.00 to ₹129.00 |
| Lot Size | 114 Shares (Minimum: ₹14,706.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹307.00 Crores |
| Total Shares Offered | 23,798,640 shares |
| Fresh Issue | 12,403,000 shares |
| Offer For Sale | 11,395,640 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 1.84x |
| NII | 3.08x |
| RII | 1.47x |
| Total | 2.12x |
Glottis IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 71,39,592 (30.00%) |
| Retail Shares Offered | 95,19,456 (40.00%) |
| NII Shares Offered | 71,39,592 (30.00%) |
Glottis IPO Lot Size
Investors can bid for a minimum of 114 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 114 | ₹14,706 |
| Retail (Max) | 13 | 1,482 | ₹191,178 |
| S-HNI (Min) | 14 | 1,596 | ₹205,884 |
| S-HNI (Max) | 67 | 7,638 | ₹985,302 |
| B-HNI (Min) | 68 | 7,752 | ₹1,000,008 |
Glottis Financial Information (Restated Consolidated)
Glottis Ltd.'s revenue increased by 89% and profit after tax (PAT) rose by 81% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 156.10 | 81.72 | 72.08 |
| Total Income | 942.55 | 499.39 | 478.77 |
| Profit After Tax | 56.14 | 30.96 | 22.44 |
| EBITDA | 78.45 | 40.36 | 33.47 |
| NET Worth | 98.53 | 42.35 | 11.52 |
| Reserves and Surplus | 82.53 | 41.35 | 10.52 |
| Total Borrowing | 22.14 | 41.35 | 30.61 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 56.98% |
| ROCE (Return on Capital Employed) | 72.58% |
| Debt/Equity | 0.22 |
| RoNW (Return on Net Worth) | 56.98% |
| PAT Margin (Profit After Tax Margin) | 5.97% |
| EBITDA Margin | 8.34% |
| Price to Book Value | 10.47 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 7.02 | 6.08 |
| P/E (x) | 18.38 | 21.23 |
| Promoter Holding | 98.98% | 74.23% |
Company Promoters
- The Promoters of the company are Ramkumar Senthilvel and Kuttappan Manikandan.
Company Overview
Incorporated in June 2024, 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 the countries such as Europe, North America, South America, Africa, 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.
Use of Proceeds
| 1) | Funding of capital expenditure requirements of the Company towards purchase of commercial vehicles and containers; and | 132.54 |
| 2) | General Corporate Purposes | 12.66 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Glottis IPO Peer Comparison
Glottis peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Glottis | 7.02 | 7.02 | 12.32 | 0.00 | 56.98 | 0.00 | - |
| Allcargo Logistics | 1.75 | 1.75 | 24.65 | 17.95 | 2.03 | 1.29 | Consolidated |
| Transport Corporation of India | 53.43 | 53.43 | 279.65 | 25.60 | 19.42 | 4.14 | Consolidated |
Quick Info
| Sector | Logistics |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹1,192.00 Cr |
Important Dates
| IPO Open | Sep 29, 2025 |
| IPO Close | Oct 01, 2025 |
| Allotment Date | Oct 03, 2025 |
| Credit to Demat | Oct 06, 2025 |
| Listing Date | Tentative: Oct 07, 2025 |
Lead Manager(s)
Pantomath Capital Advisors Pvt.Ltd. i
Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
Description
- Glottis Ltd. IPO is a book build issue of ₹307.00 crores. The issue is a combination of fresh issue of 1.24 crore shares aggregating to ₹160.00 crores and offer for sale of 1.14 crore shares aggregating to ₹147.00 crores.
- Glottis IPO bidding started from Sep 29, 2025 and ended on Oct 1, 2025. The allotment for Glottis IPO was finalized on Oct 3, 2025. The shares got listed on BSE, NSE on Oct 7, 2025.
- Glottis IPO price band is set at ₹129.00 per share . The lot size for an application is 114. The minimum amount of investment required by an retail is ₹14,706 (114 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,596 shares), amounting to ₹2,05,884, and for bNII, it is 68 lots (7,752 shares), amounting to ₹10,00,008.