#GlottisIPO #Logistics #IPOIndia #MultimodalLogistics #RenewableEnergy #NSE #BSE #CapitalMarkets
Mumbai — The Initial Public Offering (IPO) for Glottis Limited, a Chennai-based multi-modal logistics solutions provider, has closed for subscription today. The ₹307 crore issue, which was open for three days from September 29 to October 1, 2025, has been fully subscribed, driven primarily by interest from institutional and high-net-worth investors.
The IPO was a Book Building issue, structured as a combination of a Fresh Issue of shares and an Offer for Sale (OFS) by the promoters.
IPO Key Details at a Glance
Company and Issue Composition
Glottis Limited specializes in providing end-to-end multimodal logistics services, encompassing ocean, air, and road freight, along with warehousing, 3PL, and customs clearance. The company has established a strong niche in the renewable energy logistics segment, handling the complex supply chain for solar glass, wafers, and cells.
The ₹307 crore issue was composed of:
- Fresh Issue (₹160 Crore): The proceeds from this component are intended for funding capital expenditures, primarily for the purchase of commercial vehicles and containers, and for general corporate purposes.
- Offer for Sale (OFS) (₹147 Crore): This portion involves the sale of shares by the promoters, including Ramkumar Senthilvel and Kuttappan Manikandan.
Investor Outlook and Subscription Status
As of the closing of the subscription period on October 1, 2025, the issue was fully subscribed, reflecting investor confidence in the logistics sector and Glottis’s strong growth, particularly within the renewable energy supply chain.
The company has shown robust financial growth, with consolidated revenue nearly doubling from ₹478 crore in FY23 to ₹941 crore in FY25, while profit after tax (PAT) jumped from ₹22 crore to ₹56 crore in the same period.
Analysts have generally advised to ‘Subscribe for Long-Term’, citing the company’s strategic positioning in the high-growth multimodal logistics and renewable energy sectors. However, they also caution investors to consider risks related to high working capital intensity and rising receivables.
Next Steps for Investors
With the IPO subscription window now closed, the focus shifts to the allotment process:
- Allotment Finalization: Expected on October 3, 2025.
- Listing: The shares are tentatively scheduled to be listed on the BSE and NSE on October 7, 2025.
The successful closure of the Glottis IPO indicates continued investor appetite for companies strategically positioned within India’s accelerating infrastructure and clean energy narrative.
#GlottisIPO #Logistics #IPOIndia #MultimodalLogistics #RenewableEnergy #NSE #BSE #CapitalMarkets
