Glottis Ltd

Glottis Ltd offers logistics solutions that encompass sea, air, and road logistics. It offers end-to-end logistic services, which includes ocean freight forwarding, balancing & syndicating container loads, air freight forwarding, road transport, warehousing, storage, cargo handling, and customs clearance. It has 8 branch offices in India in port towns and handles exports to the Americas, Africa, and the Middle East. Customers are spread across sectors. 

The IPO is a combination of a fresh issue and an offer for sale (OFS). Fresh funds will be used for funding capex towards purchase of commercial vehicles and containers. Glottis Ltd was promoted by Ramkumar Senthilvel and Kuttappan Manikandan. The IPO will be lead-managed by Pantomath Capital Advisors; while KFIN Technologies Ltd (KFINTECH) will be the registrar. The company is headquartered at Chennai in the state of Tamil Nadu. 

Highlights of the IPO Issue

Here are the key highlights of the public issue of Glottis Ltd. 

1. The IPO of will be open from September 29th, 2025 to October 01st, 2025. It has a face value of ₹2 per share and IPO price band is set in range of ₹120 to ₹129 per share.
2. The IPO of Glottis Ltd will be a combination of a fresh issue of shares and an offer for sale (OFS) by the promoters of the company.
3. The fresh issue portion comprises the issue of 1,24,03,100 shares (124.03 lakh shares), which at the upper price band of ₹129 per share translates into ₹160 crore.
4. The OFS component entails the sale of 1,13,95,640 shares (113.96 lakh shares), which at the upper price band of ₹129 per share translates into ₹147 crore.
5. Thus, the overall IPO will also comprise of a fresh issue and OFS of 2,37,98,740 shares (237.99 lakh shares) worth ₹307 crore at the upper band price of ₹129 per share. 

The IPO of Glottis Ltd will be listed on the NSE and the BSE on the IPO mainboard. 

Key Dates, Investor Allocation, And Lot Sizes

Here are the key dates pertaining to the IPO of Glottis Ltd 

Data Source: Company RHP 

Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).  

The table below captures the gist of the allocation to various categories. 

Data Source: Security Parameters Filing (NSE) 

The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement. Here is a quick look at the lot sizes applicable for the IPO of Glottis Ltd for various categories of investors. 

It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 114 shares) 

Financial Highlights

The table captures the key financials of Glottis Ltd for last 3 financial years.  

Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period) 

Over the last 3 years, the company saw doubling of sales. While PAT margins have been subdued, the business being an asset-light business, the impact is visible in the elevated levels of the ROE and ROA. 

Valuation Metrics

At the current issue price of ₹129 per share, the valuation of the company is at a P/E ratio of 18.4X in terms of latest year EPS of ₹7.02. While that may look like reasonable valuation, what investors must closely look at the growth in profits and sales as this is a business that does face a lot of competition at the micro level. 

The company does bring some distinct advantages to the table. It is an end-to-end solutions provider, the type that most clients prefer so that they have to deal with lesser number of vendors in the trade process. The company has built a strong client network which has helped in client retention. Investors will only have to be wary about the sustenance of growth and the intense competition. Also, this is a business that is regulatorily vulnerable. 

A Brief on the Anchor Allocation

The anchor issue of Glottis Ltd saw a relatively modest response on 26th September 2025 with 17.55% of the IPO size absorbed by anchors. Out of 2,44,07,684 shares (244.08 lakh shares) on offer, anchors picked up 42,83,755 shares (42.84 lakh shares) accounting for 17.55% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹129 per share. This includes the face value of ₹2 per share plus a share premium of ₹127 per share. The anchor bidding process opened and closed on 26th September 2025.  

Key Points to Note in the Anchor Allocation Process

Here are the key details pertaining to the anchor bidding of Glottis Ltd 

An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery. 

Anchor Allocation Investors

On 26th September 2025, Glottis Ltd allotted 42,83,755 shares to 7 anchor investors. The allocation was done at the upper IPO price band of ₹129 per share which resulted in overall anchor allocation of ₹55.26 crore. The anchors have already absorbed 17.55% of the total issue size of ₹314.86 crore. Listed below are the 7 IPO anchor investors who accounted for anchor collection of ₹55.26 crores, or, 100% of the overall anchor allocation. 

Data Source: BSE Filings (Value Allocated in ₹ in Crore) 

The detailed and comprehensive report on the anchor allocation with the mutual fund portion separated can be accessed on BSE by clicking on the link below. 

https://www.bseindia.com/markets/MarketInfo/DownloadAttach.aspx?id=20250926-70&attachedId=f0e54563-dd1c-4990-81bf-59cdf1321191 

Out of the 42,83,755 shares allocated to the anchors in the IPO, there were NIL shares allocated to mutual funds registered with SEBI. Most of the other anchor shares were allocated to alternative investment funds (AIFs). 

Next Step in the IPO

Post the closure of the IPO subscription on 01st October 2025, the basis of allotment will be finalized on 03rd October 2025 and the refunds will be initiated on 06th October 2025. In addition, the demat credits are expected to also happen on 06th October 2025 and the stock will list on 07th October 2025 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 06th October 2025 under ISIN (INE0TQE01026). 

IPO Subscription Status On Day-3

As of 7.30 pm on 01st October 2025, out of the 201.24 lakh shares on offer in the IPO (excluding anchor portion), Glottis Ltd saw bids for 412.94 lakh shares. This implies an overall subscription of 2.05X at a macro level. The granular break-up of subscriptions as of the close of Day-3 of the IPO of Glottis Ltd was as under: 

The subscriptions were led by the HNI / NII Investors followed by the QIB investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that was the case in this issue also; albeit to a small extent. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion. 

Data Source: NSE / BSE (as of close of Day-3 of the IPO) 

The IPO was open up to October 01, 2025, and has closed for subscription as of the end of trading hours on October 01, 2025. The subscription data presented in the table above are the final subscription figures of Glottis Ltd IPO as of the close of the IPO reference time of 7.00 PM on October 01, 2025. This is the final subscription tally. 

About the Glottis Ltd IPO

The IPO of Glottis Ltd opened on September 29th, 2025 and closed on October 01st, 2025. The IPO comprised of a fresh issue and an offer for sale (OFS) of 2,44,07,684 shares (244.08 lakh shares) worth ₹314.86 crore at the upper band price of ₹129 per share. The allotment status will be finalized by EOD of October 03, 2025. Here is how to check allotment status for the IPO of Glottis Ltd. You can check IPO status on BSE or NSE or IPO Registrar website (KFIN Technologies). 

Checking The Allotment Status of IPO on BSE Website

This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.  

https://www.bseindia.com/investors/appli_check.aspx 

Once you reach the page, here are the steps to follow. 

1. Under Issue Type – Select Equity Option 
2. Under Issue Name – Select Glottis Ltd from the drop-down box 
3. Enter the Application Number / CAF exactly as in the acknowledgement slip 
4. Alternatively, Enter your PAN (10-digit alphanumeric) number 
5. Once this is done, you need to click on the Captcha to verify you are not a robot 
6. Finally click on the Search Button 

You can use either of the parameters to query; Application / CAF number or Investor PAN. 

The allotment status will be displayed on the screen in front of you informing about the number of shares of Glottis Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits. 

Checking The Allotment Status of IPO on NSE Website

This is a common link for all IPOs. Click on NSE link for IPO allotment as below.  

https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids 

Once you reach the page, here are the steps to follow. 

1. Under Issue Type – Select Equity & SME IPO Details Option 
2. Under SELECT SYMBOL – Select GLOTTIS from the drop-down box 
3. Enter the Application Number / CAF exactly as in the acknowledgement slip 
4. Enter your PAN (10-digit alphanumeric) number 
5. Once both are entered, click on the Submit Button 

You must input the Application / CAF number and the Investor PAN. 

The allotment status will be displayed on the screen in front of you informing about the number of shares of Glottis Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits. 

Checking Allotment Status of IPO on KFIN Technologies Ltd.

Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below: 

https://kosmic.kfintech.com/ipostatus/ 

KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select Glottis Ltd.  

THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD 

To Query by Application Number, check the appropriate box and follow these steps. 

1. Enter the Application Number as it is 
2. Enter the 6-digit Captcha Code 
3. Click on Submit button 
4. Allotment Status gets displayed on screen 

Unlike in the past, now you do not have to select ASBA versus Non-ASBA option. 

To Query by Demat Account, check the appropriate box and follow these steps. 

1. First select the depository (NSDL / CDSL) 
2. Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL) 
3. Enter the Client-ID in the second box 
4. For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string 
5. Enter the 6-digit Captcha Code 
6. Click on Submit button 
7. Allotment Status gets displayed on screen 

To Query by PAN, check the appropriate box and follow these steps. 

1. Enter the 10-Character PAN number, available on your PAN card 
2. After you enter the PAN number, Enter the 6-digit numeric Captcha Code 
3. Click on Submit button 
4. Allotment status gets displayed on screen 

If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.  

Weak Listing For Glottis Ltd

Glottis Ltd had a weak listing on 07th October 2025. On the NSE, the stock of Glottis Ltd listed at ₹84, a steep discount of -34.9% to the IPO issue price of ₹129 per share. The issue was subscribed just 2.05 times overall at the close of the IPO, so opening sentiments being weak was along expected lines. However, had the market sentiments been stronger, even the post listing performance could have been better. 

On the BSE also, the listing of Glottis Ltd was at a steep discount. Against the issue price of ₹129 per share, the stock listed at ₹88, a discount of -31.8% to the issue price. The stock of Glottis Ltd is on T+1 rolling settlement system. 

How The Stock of Glottis Ltd Moved During the Day?

After opening sharply lower at ₹84 per share on the NSE, the stock traded around the listing price for most part of the day, but could not show any meaningful bounce. During the day, the stock of Glottis Ltd touched a high of ₹93 and an intraday low of ₹81.17. On the NSE, the upper circuit band of the stock is set at ₹100.80 while the lower circuit band is set at ₹67.20 per share. Effectively, the stock remained in a tight range around the listing price. 

What about the BSE? After opening sharply lower at ₹88 per share on the BSE, the stock hovered in a range around the listing price only. During the day, the stock of Glottis Ltd touched a high of ₹93 and an intraday low of ₹81.10. On the BSE, the upper circuit band of the stock is set at ₹105.55 while the lower circuit band is set at ₹70.45 per share. Even on BSE, the stock remained in a range around the listing price only. 

How Did the Stock of Glottis Ltd Close on Listing Day?

Here is how the stock of Glottis Ltd closed on the NSE. The closing price of ₹82.73 per share is at a discount of -35.87% to the IPO issue price and also at a discount of -1.51% to the listing price of ₹84 per share on the NSE. The company had a market cap of ₹765 crore at close. During the day, the stock of Glottis Ltd traded 280.34 lakh shares on the NSE, with total traded value of ₹245.24 crore. Deliveries were 39.51% of the total volumes on NSE. 

Here is how the stock of Glottis Ltd closed on the BSE. The closing price of ₹83.85 per share is at a discount of -35.00% to the IPO issue price and a discount of -4.72% to the listing price of ͭ₹88 on the BSE. The company had a market cap of ₹775 crore as of close. During the day, the stock of Glottis Ltd traded 21.48 lakh shares on the BSE, having a total traded value of ₹18.96 crore. Deliveries were 35.84% on the BSE. 

The stock trades under the codes: NSE (GLOTTIS), BSE (544557), ISIN (INE0TQE01026).