Glottis IPO GMP: What Does The Grey Market Signal On Final Day Of Subscription
The unlisted shares of Glottis Ltd. were trading at a premium, indicating a potential gain of up to 4% ahead of listing next week.
Glottis Ltd. which launched its initial public offering (IPO) on Monday, September 29, will close for subscription on October 1.
The IPO was fully subscribed on its final day. The mainboard issue has been subscribed 1.57 times as of 1:55 p.m. Investors bid for 3,15,01,278 shares against the 2,01,23,929 on offer, according to BSE data on Wednesday.
After a subdued subscription, the grey market premium for the mainboard issue has also remained flat ahead of the subscription on day 3.
Here’s a look at the grey market premium (GMP) and other details of the Glottis IPO as subscription enters the final day.
Glottis IPO GMP Today
The grey market premium (GMP) for Glottis Ltd. IPO stood at Rs 5 as of 1:00 p.m. October 1. With a price band of Rs 129, the IPO’s estimated listing price works out to around Rs 134, implying a potential gain of approximately 3.88% per share.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Glottis IPO Key Details
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.
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 IPO Allotment And Listing Date
The tentative share allotment for Glottis IPO is 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.
Use of IPO 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.
Glottis Ltd. Business And Financials
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. 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.
