In 2025, India’s IPO market continues to witness strong investor interest, especially in niche sectors like logistics and transportation. Glottis Limited, a fast-growing logistics solutions provider, is opening its IPO from September 29, 2025, to October 1, 2025, giving investors an opportunity to participate in a company offering end-to-end multimodal logistics services across India and globally.
About Glottis Ltd.
Incorporated in June 2024, Glottis Limited provides comprehensive logistics services, including ocean, air, and road transportation, alongside ancillary offerings such as warehousing, cargo handling, 3PL, and customs clearance. The company handles import and export operations, project cargo, and containerised shipments.
During FY2024, Glottis managed approximately 95,000 TEUs of ocean freight imports. Its operations span 8 branch offices in India (New Delhi, Gandhidham, Kolkata, Mumbai, Tuticorin, Coimbatore, Bengaluru, Cochin) and corporate offices in Chennai. The company has exported goods to Europe, North America, South America, Africa, Middle East, and Asia.
As of January 2025, Glottis served 1,246 to 1,662 customers over the last few fiscal years across 85 to 119 countries, and maintained an extensive network of 171 overseas agents, 98 shipping lines, 52 transporters, 43 customs house agents, 22 airlines, and 20 consol agents. The company owns 17 commercial vehicles, enabling scalability and efficient project execution.
Competitive Strengths:
- Leading freight forwarding company in the Renewable Energy sector
- Scaled multimodal logistics operations
- Extensive domestic and international presence
- Strong relationships with a diverse customer base
- Experienced management with relevant industry expertise
Glottis IPO Details
The Glottis IPO is a book-building issue of ₹307 crore, consisting of a fresh issue of 1.24 crore shares (₹160 Cr) and an offer for sale of 1.14 crore shares (₹147 Cr). The IPO will be listed on BSE and NSE.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Sep 29, 2025 |
| IPO Close Date | Oct 1, 2025 |
| Tentative Allotment | Oct 3, 2025 |
| Initiation of Refunds | Oct 6, 2025 |
| Credit of Shares to Demat | Oct 6, 2025 |
| Tentative Listing Date | Oct 7, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Oct 1, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹2 per share |
| Issue Price Band | ₹120 – ₹129 per share |
| Lot Size | 114 shares |
| Total Issue Size | 2,37,98,740 shares (₹307 Cr) |
| Fresh Issue | 1,24,03,100 shares (₹160 Cr) |
| Offer for Sale | 1,13,95,640 shares (₹147 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 8,00,00,000 shares |
| Shareholding Post-Issue | 9,24,03,100 shares |
Investor Category Reservation:
| Investor Category | Allocation |
| QIB | Not more than 30% |
| Retail | Not less than 40% |
| NII | Not less than 30% |
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 114 | ₹14,706 |
| Retail (Max) | 13 | 1,482 | ₹1,91,178 |
| S-HNI (Min) | 14 | 1,596 | ₹2,05,884 |
| S-HNI (Max) | 67 | 7,638 | ₹9,85,302 |
| B-HNI (Min) | 68 | 7,752 | ₹10,00,008 |
Promoter Holding:
The promoters of Glottis Limited are Ramkumar Senthilvel and Kuttappan Manikandan.
- Pre-IPO: 98.98%
- Post-IPO: NA
Book Running Lead Manager: Pantomath Capital Advisors Pvt. Ltd.
Registrar: Kfin Technologies Ltd.
Glottis Ltd.: Financials
Financial Highlights (₹ Crore):
| 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 & Surplus | 82.53 | 41.35 | 10.52 |
| Total Borrowing | 22.14 | 8.08 | 30.61 |
Key Performance Indicators (FY2025):
| KPI | Value |
| Market Capitalisation | ₹1,192.00 Cr |
| ROE | 56.98% |
| ROCE | 72.58% |
| Debt/Equity | 29.00 |
| RoNW | 56.98% |
| PAT Margin | 5.97% |
| EBITDA Margin | 8.34% |
| Price to Book Value | 10.47 |
| EPS (Pre-IPO / Post-IPO) | ₹7.02 / ₹6.08 |
| P/E (Pre-IPO / Post-IPO) | 18.38x / 21.23x |
Glottis IPO Objectives
The IPO proceeds will be utilised as follows:
| Object | Amount (₹ Crore) |
| Purchase of commercial vehicles and containers | 132.54 |
| General Corporate Purposes | Balance |
Industry Outlook
The logistics sector in India continues to grow due to:
- Rising domestic and international trade volumes
- Expansion of multimodal logistics capabilities
- Increasing infrastructure projects and renewable energy logistics demand
- Strong demand for integrated transportation and supply chain solutions
Glottis, with its multimodal expertise, wide agent network, and international presence, is well-positioned to capitalise on the growth in logistics services.
Glottis IPO: Peer Comparison
Investors considering the Glottis IPO may also look at similar companies in the logistics and transportation sector to assess market positioning and financial performance. Key peers include Allcargo Logistics Ltd., a global player in supply chain and logistics solutions, and Transport Corporation of India Ltd., which offers extensive transportation and warehousing services. Comparing the growth metrics, profitability, and market capitalisation of Glottis with these peers will help investors make more informed decisions about potential risks and returns.
Conclusion
Glottis Limited offers investors exposure to a niche, rapidly growing logistics services company with strong financials and an extensive network in India and abroad. While the company shows robust growth in revenue and profitability, potential investors should consider sector-specific risks such as regulatory changes, fuel price volatility, and global trade fluctuations.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO to stay updated on the latest market offerings.
