Glottis IPO Subscribed 0.42 Times On Day One Check GMP, Other Details
The 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.
Glottis Ltd.'s initial public offering (IPO) was subscribed 0.42 times on the first day of bidding on Monday. The company specialises in logistics solutions across ocean, air and road transport. The 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 Oct. 1, with the tentative allotment expected on Oct. 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, Oct. 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.
Subscription: Day One
Glottis IPO was subscribed 0.42 times or 42% as of 5:00 p.m. on Monday.
Institutional investors: 1.79
Non-Institutional investors (NII): 0.16 times.
Retail investors: 0.22 times.
Glottis: IPO GMP
The latest grey market premium of Glottis is Rs 15 as of 7:57 p.m. according to Investorgain.com. The stock's estimated listing price is Rs 144, implying a gain of 11.63% over the IPO price of Rs 129.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Use Of Proceeds
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.
Business
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.
