Glottis Ltd., a multi-modal integrated logistics solutions provider, made a disappointing debut on Dalal Street on October 7, following the completion of its initial public offering (IPO). Shares of Glottis opened at ₹88 per share on the BSE, reflecting a discount of ₹41 per share or 31.78% compared to the issue price of ₹129 per share. On the NSE, the stock began trading at ₹84 per share, a discount of 34.88% from the IPO price.
Glottis IPO Details
Glottis IPO comprised a fresh issue of 12.4 million equity shares worth ₹160 crore and an offer-for-sale of 11.4 million equity shares worth ₹147 crore. The issue was priced in the range of ₹120–129 per share, with a lot size of 68 shares, and the subscription window remained open from September 29 to October 1, 2025. The public offering received good demand and was oversubscribed by 2.05 times, reflecting moderate investor interest in the issue. The basis of allotment for the shares was finalised on October 3.
Use of IPO Proceeds
Glottis will utilise the funds raised from the fresh issue to finance capital expenditure, including the purchase of commercial vehicles and containers, as well as general corporate purposes. The company will not receive any proceeds from the offer-for-sale, which will be distributed to the promoters participating in the share sale.
Management and Registrars
Pantomath Capital Advisors served as the sole book-running lead manager for the IPO, while KFin Technologies managed the registrar responsibilities.
About Glottis Ltd.
Founded as a multi-modal integrated logistics solutions provider, Glottis offers end-to-end transportation services across ocean, air, and road. The company integrates in-house infrastructure with intermediary services to deliver comprehensive logistics solutions. Glottis serves multiple sectors, with a particular focus on energy infrastructure and renewable energy projects.
The company operates through eight branch offices in India, including New Delhi, Gandhidham, Kolkata, Mumbai, Tuticorin, Coimbatore, Bengaluru, and Cochin. It has also extended its reach into international markets such as Europe, Africa, Central and South America, Canada, the Mediterranean, the Middle East, and Australia.
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Conclusion
The weak listing of Glottis shares highlights the cautious sentiment among investors despite the company’s strong operational footprint in integrated logistics. The IPO proceeds are expected to strengthen Glottis’ infrastructure and support its ongoing expansion plans, providing a platform for long-term growth in both domestic and international markets.
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