Glottis IPO kicks-off today: Should you subscribe to this issue?
Glottis is selling its shares in the price band of Rs 120-129 apiece, which could be applied for a minimum of 114 shares and its multiples to raise Rs 307 crore between September 29 and October 01.
- Sep 29, 2025,
- Updated Sep 29, 2025 9:39 AM IST
The initial public offering (IPO) of Glottis shall open for bidding on Monday, September 29. The specialty transportation player is selling its shares in the range of Rs 120-129 apiece. Investors can apply for a minimum of 114 equity shares and its multiples thereafter. The issue will close for bidding on Wednesday, October 01.
The Rs 307 crore-IPO of Glottis includes a fresh share sale of Rs 160 crore and an offer-for-sale (OFS) of Rs 1,13,95,640 shares worth Rs 147. The net proceeds from the issue shall be utilized towards funding of capital expenditure requirements for purchased commercial vehicles and containers; and general corporate purposes.
Incorporated in June 2024, Chennai-based Glottis is a logistics solutions company that offers comprehensive transportation services through ocean, air, and road logistics. It provides end-to-end logistics solutions with multimodal capabilities across various sectors, optimizing the movement of goods across different regions.
Ahead of its IPO, Glottis raised 55.26 crore from 7 anchor investors as it allocated 42,83,755 equity shares at Rs 129 apiece. Its anchor book included names like LC Pharos Multi Strategy Fund VC, Meru Investment Fund PCC, Abans Finance, VPK Global Ventures Fund, M7 Global Fund PCC, The Asio Fund VCC and Sunrise Investment Opportunities Fund.
For the year ended on March 31, 2025, Glottis reported a net profit of Rs 56.14 crore with a revenue of Rs 942.55 crore. It clocked a net profit of Rs 30.96 crore with a revenue of Rs 499.39 crore for the financial year ended 2023-24. The company shall command a market capitalization of Rs 1,192 crore.
Glottis has reserved 40 per cent of the net offer for retail investors, while qualified institutional bidders (QIBs) and non-institutional investors (NIIs) will have 30-30 per cent allocation each in the issue. Last heard, the company was commanding a grey market premium of Rs 12-15 apiece, suggesting 9-12 per cent gains for the investors.
Pantomath Capital Advisors is the sole book running lead manager and Kfin Technologies is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE, with Tuesday, October 7 as the tentative date of listing on bourses. Here's what a host of brokerage firms say about the IPO of Glottis:
SBI Securities Rating: Subscribe for long-term Glottis is one of the leading freight forwarding players operating in the renewable energy industry. It has a wide network of intermediaries with multimodal logistics operations. It has shown strong growth over FY23-25 period with revenue, Ebitda and PAT CAGR of 40.3 per cent, 53.1 per cent and 58.2 per cent, respectively, said SBI Securities.
"Ocean volumes have grown at a CAGR of 37.4% during the same period at 1,12,146 TEU. Glottis looks well-placed to gain from the industry tailwinds in the global renewable energy industry. The company is valued at post issue capital FY25 PE of 21.2 times. We recommend investors to 'subscribe' to the issue at the cut-off price for long-term," it said.
Canara Bank Securities Rating: Subscribe with caution Glottis has delivered strong financial performance with revenue and PAT growing. Glottis is strategically positioned in the logistics sector, benefitting from robust demand across multimodal and containerized freight, and has established itself as a growing player in integrated logistics and value-added services, said Canara Bank Securities.
"The issue of Glottis is valued at 18 times PE and 10 times P/B. On the other hand, high exposure to renewable energy sector and piling up receivables do raise a concern. We recommend 'subscribe' to the issue for long-term investors with a high-risk appetite," it added.
BP Equities Rating: Subscribe Backed by a strong business model, deep market understanding, and customer retention capabilities, along with favorable industry tailwinds, the company is well-positioned for long-term sustainable growth, said BP Equities. "At the upper price band, the company is valued at a P/E multiple of 18.4 times based on FY25 earnings," it added with a 'subscribe' rating for this issue.
SMIFS Rating: Subscribe "We recommend subscribe to the issue considering its sectoral specialization, scalable operations, asset ownership expansion, end-to-end logistics capabilities, and favourable government-led reforms, Glottis is poised for robust revenue growth, margin expansion, and strengthened market positioning," said SMIFS.
Ventura Securities Rating: Subscribe Glottis has been expanding globally, establishing overseas subsidiaries such as Continental Shipping & Consulting. (Singapore), Continental Worldwide Shipping LLC (UAE), and Continental Shipping Vietnam Co, said Ventura. "These strategic entities enhance the company’s presence in key international trade hubs and strengthen its customer network," it added with a 'subscribe' rating.
The initial public offering (IPO) of Glottis shall open for bidding on Monday, September 29. The specialty transportation player is selling its shares in the range of Rs 120-129 apiece. Investors can apply for a minimum of 114 equity shares and its multiples thereafter. The issue will close for bidding on Wednesday, October 01.
The Rs 307 crore-IPO of Glottis includes a fresh share sale of Rs 160 crore and an offer-for-sale (OFS) of Rs 1,13,95,640 shares worth Rs 147. The net proceeds from the issue shall be utilized towards funding of capital expenditure requirements for purchased commercial vehicles and containers; and general corporate purposes.
Incorporated in June 2024, Chennai-based Glottis is a logistics solutions company that offers comprehensive transportation services through ocean, air, and road logistics. It provides end-to-end logistics solutions with multimodal capabilities across various sectors, optimizing the movement of goods across different regions.
Ahead of its IPO, Glottis raised 55.26 crore from 7 anchor investors as it allocated 42,83,755 equity shares at Rs 129 apiece. Its anchor book included names like LC Pharos Multi Strategy Fund VC, Meru Investment Fund PCC, Abans Finance, VPK Global Ventures Fund, M7 Global Fund PCC, The Asio Fund VCC and Sunrise Investment Opportunities Fund.
For the year ended on March 31, 2025, Glottis reported a net profit of Rs 56.14 crore with a revenue of Rs 942.55 crore. It clocked a net profit of Rs 30.96 crore with a revenue of Rs 499.39 crore for the financial year ended 2023-24. The company shall command a market capitalization of Rs 1,192 crore.
Glottis has reserved 40 per cent of the net offer for retail investors, while qualified institutional bidders (QIBs) and non-institutional investors (NIIs) will have 30-30 per cent allocation each in the issue. Last heard, the company was commanding a grey market premium of Rs 12-15 apiece, suggesting 9-12 per cent gains for the investors.
Pantomath Capital Advisors is the sole book running lead manager and Kfin Technologies is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE, with Tuesday, October 7 as the tentative date of listing on bourses. Here's what a host of brokerage firms say about the IPO of Glottis:
SBI Securities Rating: Subscribe for long-term Glottis is one of the leading freight forwarding players operating in the renewable energy industry. It has a wide network of intermediaries with multimodal logistics operations. It has shown strong growth over FY23-25 period with revenue, Ebitda and PAT CAGR of 40.3 per cent, 53.1 per cent and 58.2 per cent, respectively, said SBI Securities.
"Ocean volumes have grown at a CAGR of 37.4% during the same period at 1,12,146 TEU. Glottis looks well-placed to gain from the industry tailwinds in the global renewable energy industry. The company is valued at post issue capital FY25 PE of 21.2 times. We recommend investors to 'subscribe' to the issue at the cut-off price for long-term," it said.
Canara Bank Securities Rating: Subscribe with caution Glottis has delivered strong financial performance with revenue and PAT growing. Glottis is strategically positioned in the logistics sector, benefitting from robust demand across multimodal and containerized freight, and has established itself as a growing player in integrated logistics and value-added services, said Canara Bank Securities.
"The issue of Glottis is valued at 18 times PE and 10 times P/B. On the other hand, high exposure to renewable energy sector and piling up receivables do raise a concern. We recommend 'subscribe' to the issue for long-term investors with a high-risk appetite," it added.
BP Equities Rating: Subscribe Backed by a strong business model, deep market understanding, and customer retention capabilities, along with favorable industry tailwinds, the company is well-positioned for long-term sustainable growth, said BP Equities. "At the upper price band, the company is valued at a P/E multiple of 18.4 times based on FY25 earnings," it added with a 'subscribe' rating for this issue.
SMIFS Rating: Subscribe "We recommend subscribe to the issue considering its sectoral specialization, scalable operations, asset ownership expansion, end-to-end logistics capabilities, and favourable government-led reforms, Glottis is poised for robust revenue growth, margin expansion, and strengthened market positioning," said SMIFS.
Ventura Securities Rating: Subscribe Glottis has been expanding globally, establishing overseas subsidiaries such as Continental Shipping & Consulting. (Singapore), Continental Worldwide Shipping LLC (UAE), and Continental Shipping Vietnam Co, said Ventura. "These strategic entities enhance the company’s presence in key international trade hubs and strengthen its customer network," it added with a 'subscribe' rating.