Glottis IPO: Price band set at ₹120-129 per share; check key dates, issue details, more
Glottis IPO has set a price band of ₹120 to ₹129 per share, with subscription from September 29 to October 1. It aims to raise ₹160 crore, focusing on logistics solutions, and will list shares on BSE and NSE on October 7.
Glottis IPO price band has been fixed in the range of ₹120 to ₹129 per equity share of the face value of ₹2. The Glottis IPO date of subscription is scheduled for Monday, September 29 and will close on Wednesday, October 1. The allocation to anchor investors for the Glottis IPO is scheduled to take place on Friday, September 26.
The floor price is 60 times the face value of the equity shares and cap price is 64.50 times the face value of the equity shares. The Glottis IPO lot size is 114 equity shares and in multiples of 114 equity shares thereafter.
Glottis IPO has reserved not more than 30% of the shares in the public issue for qualified institutional buyers (QIB), not less than 30% for non-institutional Institutional Investors (NII), and not less than 40% of the offer is reserved for retail investors.
Tentatively, Glottis IPO basis of allotment of shares will be finalised on Friday, October 3 and the company will initiate refunds on Monday, October 6 while the shares will be credited to the demat account of allottees on the same day following refund. Glottis share price is likely to be listed on BSE and NSE on Tuesday, October 7.
Glottis IPO details
The Glottis IPO involves the issuance of new shares valued at ₹160 crore, with both promoters, Ramkumar Senthilvel and Kuttappan Manikandan, selling 1.1 crore shares through the offer-for-sale method.
It intends to allocate ₹132.5 crore of the proceeds from the fresh issue towards acquiring commercial vehicles and containers, while the remainder will be used for general corporate activities.
Pantomath Capital Advisors is serving as the merchant banker for the Glottis IPO, and Kfin Technologies Ltd. functions as the issue's registrar.
Company details
Glottis Limited is a company that specializes in logistics solutions, providing an array of transportation services through ocean, air, and road logistics.
The firm delivers complete logistics solutions with multimodal capabilities across various industries, enhancing the efficiency of goods movement across different regions. In the fiscal year 2024, Glottis Limited managed around 95,000 TEUs of imports through ocean freight.
As of February 2025, the company has a presence in India with 8 branch offices located in New Delhi, Gandhidham, Kolkata, Mumbai, Tuticorin, Coimbatore, Bengaluru, and Cochin, along with its registered and corporate offices in Chennai, which serve major transportation hubs.
The logistics solutions provider that operates across multiple modes competes with publicly traded companies such as Allcargo Logistics (with a P/E of 17.95) and Transport Corporation of India (with a P/E of 25.60).
The company has sent its products to countries including Europe, North America, South America, Africa, the Middle East, and Asia.
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