Glottis IPO listing: Shares off to a disappointing start, debut at 35% discount to issue price

Glottis IPO Listing: In a disappointing stock market debut today, October 7, shares of Glottis Limited witnessed a massive gap-down listing.

Glottis share price

On the National Stock Exchange (NSE), Glottis share price listed at ₹84, a discount of 34.88% or ₹45 to the initial public offering (IPO) price of ₹129. Meanwhile, on the BSE, Glottis share price debuted at a 31.78%, or ₹41, discount at ₹88 apiece.

The listing was steeply below expectations. The grey market premium (GMP) for Glottis IPO was nil, signalling a flat debut in the stock market today.

Glottis IPO Details

Amid a lacklustre GMP, Glottis IPO witnessed a tepid demand, garnering just 2.12 times bids for its initial share sale. The issue received bids for 4,12,86,240 shares, as against 1,95,14,985 shares on offer.

The retail portion of the offer was booked 1.47 times, the non-institutional investors (NII) quota was subscribed 3.08 times and the qualified institutional buyers (QIB) segment received 1.84 times the bids.

The ₹307 crore IPO of Glottis Limited was open for bidding from September 29 to October 1. The issue was a combination of fresh share sale worth ₹160 crore and an offer for sale (OFS) of ₹147 crore.

Investors could bis for Glottis IPO in lots of 114 shares. The price band for the book-built offer was fixed at ₹120-129 per piece, requiring an investment of ₹14,706 by a retail investor at the upper end of the price band.

The company plans to use the proceeds from the fresh share sale worth ₹132.54 crore for funding capital expenditure needs of Glottis to purchase commercial vehicles and containers, and the remaining ₹12.66 crore for general corporate purposes.

Pantomath Capital Advisors was the book-running lead manager, and KFin Technologies acted as the registrar of the issue.

Glottis delivers end-to-end logistics solutions with multimodal capabilities across verticals to optimise the movement of goods across geographies, including (i) ocean freight forwarding; (ii) air freight forwarding; (iii)

road transportation. It also offers ancillary services, including warehousing, storage, cargo handling, third-party logistics services and custom clearance, among others.

It has handled ~112,146 TEUs of imports through ocean during the Fiscal 2025.

With a global footprint and expertise in handling complex supply chains, Glottis serves customers across multiple industries, with particular emphasis on energy infrastructure and renewable energy projects.

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