The initial public offer of Glottis received bids for 84,69,402 shares as against 2,01,23,929 shares on offer, according to stock exchange data at 17:00 IST on Monday (29 September 2025). The issue was subscribed 0.42 times.
The issue opened for bidding on 29 September 2025 and it will close on 1 October 2025. The price band of the IPO is fixed between Rs 120 and 129 per share. An investor can bid for a minimum of 114 equity shares and in multiples thereof.
The issue comprises both fresh issue of equity shares up to Rs 160 crore and offer for sale of 1,13,95,640 equity shares by the promoter selling shareholders. The OFS comprises sale of 56,97,820 equity shares by Ramkumar Senthilvel and 56,97,820 equity shares by Kuttappan Manikandan.
Of the net proceeds from the fresh issue, Rs 132.54 crore is for funding of capital expenditure requirements towards purchase of commercial vehicles and containers,and the balance for general corporate purposes. Through the proceeds from the fresh issue, the company plans to purchase 1,000 containers for Rs 48.38 croreand balance to purchase 270 trucks and trailers
Glottis offers multi-modal integrated logistics solutions, including end-to-end transportation solutions through ocean, air and road logistics services. It serves customers across multiple industries, with particular emphasis on energy infrastructure and renewable energy projects with global footprint and expertise in handling complex supply chains. It delivers end-to-end logistics solutions with multimodal capabilities across verticals to optimize the movement of goods across geographies. As of August 31, 2025, the company owned 17 commercial vehicles.
Ahead of the IPO, Glottis on Friday, 26 September 2025, raised Rs 55.26 crore from anchor investors. The board allotted 42.83 lakh shares at Rs 129 each to 7 anchor investors.
The firm reported a consolidated net profit of Rs 56.14 crore and sales of Rs 941.17 crore for the twelve months ended on 31st March 2025.