Glottis IPO GMP: What Does The Grey Market Signal On First Day Of Subscription

Glottis Ltd., a company specialising in logistics solutions across ocean, air and road transport, is set to launch its initial public offering (IPO) on Monday, September 29.

With the subscription for the mainboard issue begins today, here’s all you need to know about Glottis Ltd.’s IPO, including price band, grey market premium (GMP), offer size, and other details.

The grey market premium (GMP) for Glottis Ltd. IPO stood at Rs 12 as of 10:30 a.m. September 29. With a price band of Rs 129, the IPO’s estimated listing price works out to around Rs 141, implying a potential gain of approximately 9.30% per share.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

The Glottis Ltd. IPO is a book-built issue of Rs 307 crore, comprising a fresh issue of 1.24 crore shares raising Rs 160 crore and an offer-for-sale of 1.14 crore shares amounting to Rs 147 crore.

The IPO has been priced at a band of Rs 120 to Rs 129 per share. The application lot size for retail investors is 114 shares, requiring a minimum investment of Rs 14,706 at the upper end of the price band. For SNIIs, the lot size is 14 lots (1,596 shares), amounting to Rs 2,05,884, while BNIIs can apply for 68 lots (7,752 shares), needing an investment of Rs 10,00,008.

The Glottis IPO is set to close on October 1, with the tentative allotment expected on October 3. Refunds and credit of shares to investors’ demat accounts are likely to happen on October 6. The tentative listing date for the Glottis IPO on the BSE and NSE is scheduled for Tuesday, October 7.

Pantomath Capital Advisors Pvt. Ltd. is the book-running lead manager for the IPO. KFin Technologies Ltd. has been appointed as the issue’s registrar.

Glottis Ltd., founded in June 2024, offers end-to-end services including freight forwarding, road transport, warehousing, 3PL and customs clearance.

As of February 2025, Glottis Ltd. operates through eight branch offices across India, located in New Delhi, Gandhidham, Kolkata, Mumbai, Tuticorin, Coimbatore, Bengaluru and Cochin. Its registered and corporate offices are in Chennai, near key transport hubs.

Glottis Ltd. plans to use the net proceeds from its IPO primarily to fund capital expenditure, including the purchase of commercial vehicles and containers. The remaining funds will be allocated for general corporate purposes.

Glottis Ltd. reported a growth in its financials for the year ending March 31. Total revenue rose by 89% to Rs 942.55 crore, up from Rs 499.39 crore in the previous fiscal. The company’s profit after tax (PAT) increased by 81%, reaching Rs 56.14 crore in FY25 compared with Rs 30.96 crore in FY24.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.