Nifty 50
Sensex
US Tech 100
Dow Jones
FTSE
Dax
CAC
Nikkei 225
Hang Seng
SSE Composite
TAIEX
KOSPI
Gift Nifty
Strategy Indices
Broad Market Indices
Sectoral Indices
Thematic Indices
Pay ₹0 Brokerage on Investing. Open Free Demat Account with Zero AMC for Life!
+91
Glottis IPO
Mainboard
Open Date
29 Sep 2025
Close Date
1 Oct 2025
Open Date
29 Sep 2025
Close Date
1 Oct 2025
Min Investment
₹ 13,680
Lot Size
114
Issue Size
₹ 307.00 Cr
Price Range
₹ 120 - ₹ 129
Subscribed
2.02 x
IPO Timeline
IPO Offer Start
29 Sep 2025
IPO Offer Ends
1 Oct 2025
Allotment Finalisation
3 Oct 2025
Refund Initialisation
6 Oct 2025
Non-Institutional Buyers (sHNI)
6 Oct 2025
Listing of Shares
7 Oct 2025
IPO Subscription Details as on 12 Nov 2026, 07:31 PM
Qualified Instituational Buyers (QiB)
1.87 x
Qualified Instituational Buyers (QiB)
1.87 x
Retail
1.37 x
Retail
1.37 x
Total
2.02 x
Total
2.02 x
Non-Institutional Buyer (bHNI)
3.63 x
Non-Institutional Buyer (bHNI)
3.63 x
Non-Institutional Buyer (sHNI)
1.6 x
Non-Institutional Buyer (sHNI)
1.6 x
Note: This information is provided for general guidance only. Dates may be subject to change.
About the Company
Glottis Limited offers multi-modal integrated logistics solutions, providing end-to-end transportation services through ocean, air and road logistics. The company delivers multimodal capabilities across verticals to optimize the movement of goods across geographies including ocean freight forwarding (project cargo load and full container load, import as well as export), air freight forwarding (import as well as export), road transportation, along with other ancillary services including warehousing, storage, cargo handling, third-party logistics (3PL) services and custom clearance. The company has handled approximately 112,146 TEUs of imports through ocean during Fiscal 2025. The company integrates services of intermediaries and in-house infrastructure to offer start-to-finish logistical solutions to customers. The service offerings coupled with the capabilities of intermediaries enable the company to offer assistance in geographically dispersed locations while modifying operating volumes, optimizing loads and maintaining flexibility in handling capacity variations depending on customer requirements. The company has a track record of mobilizing large volumes of cargo for customers engaged in various industries. The company's ability to mobilize higher volumes is on account of widespread network of international freight forwarding agencies, who provide insights on available carriers, route management and globally prevalent freight forwarding rates, which enhances capabilities of committing carrier spaces in advance at competitive rates, thereby offering commitment of delivery. The company serves customers across multiple industries, with particular emphasis on energy infrastructure and renewable energy projects. The company has over the years built a track record of offering freight forwarding services to varied industries including renewable energy industry, engineering products, home appliances, granite and minerals, timber and other industries including agro, automobile chemicals, textiles, machineries among others. As of the date of the Red Herring Prospectus, the company operates PAN-India through a network of 8 branch offices in New Delhi, Gandhidham, Kolkata, Mumbai, Tuticorin, Coimbatore, Bengaluru and Cochin, and registered and corporate offices in Chennai to cover major transportation hubs. The company has also spread operations across countries including but not limited to Europe, North America, South America, Africa, Middle East and Asian Countries through arrangements with local freight forwarding agents in such countries. For the Fiscals 2025, 2024 and 2023, the company served total 1,908, 1,662 and 1,513 customers across one hundred and twenty five (125), one hundred (100) and eighty seven (87) countries, respectively.
Founded In
2004
CEO
Kuttappan Manikandan
Financials of Glottis IPO
Total Income
Total Expenses
Total Profit
| Key Performance Indicators | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Operating Revenue | 47,827.30 | 49,717.70 | 94,117.30 |
| Other Income | 49.30 | 221.40 | 137.30 |
Total Income | 47,876.60 | 49,939.10 | 94,254.60 |
Total Expenses | 44,544.80 | 45,783.10 | 86,668.20 |
| Profit Before Tax | 3,331.80 | 4,156.00 | 7,586.40 |
Total Profit | 2,243.70 | 3,095.80 | 5,614.40 |
All figures are in lakhs (₹)
Utilisation of Proceeds
All figures are in lakhs (₹)
| Purpose | Amount |
|---|---|
| The company intends to strategically expand its business model by increasing its owned asset base through progressive addition of key assets necessary for expanding operations. The company aims to maintain and operate owned vehicles to reduce hiring and operational costs, reduce dependency on third parties for sourcing outsourced vehicles, and minimize the risk of facing shortage of outsourced vehicles during periods of high demand. The company also wishes to offer integrated services by providing cargo transportation to customers, thereby increasing revenue share and customer reliance on its services. The company proposes to expand its existing transportation network and fleet size through significant addition of logistics capacities to ensure stability of future operational network and superior operational control. Additionally, the company intends to incorporate container procurement as part of operations to include an additional source of revenue from customers while ensuring timely availability of containers and delivery of orders. The investment includes purchase of commercial vehicles comprising cab chassis and trailers, and marine containers of various specifications to support the company's logistics operations. | 13,254 |
| The company proposes to deploy the balance net proceeds towards general corporate purposes, subject to such amount not exceeding twenty-five percent of the gross proceeds, in compliance with SEBI ICDR Regulations. The general corporate purposes include strengthening marketing capabilities and brand building exercises, meeting ongoing general corporate contingencies, business and operations, overheads, salaries and wages, administrative and general office use, new projects, finance costs, payment to government and any other purpose as may be approved by the board or a duly appointed committee from time to time, subject to compliance with applicable laws. The quantum of utilization of funds towards each purpose will be determined by the board, based on the amount actually available under this head and the business requirements of the company and other relevant considerations, from time to time. | - |
- Leading freight forwarding player in the Renewable Energy Industry: The company is one of the leading freight forwarding players operating in the renewable energy sector import and export in India with over 2 decades of experience. The company has developed a specialised customer base comprising power generation and component manufacturing companies engaged in the renewable energy industry. Revenue from renewable energy industry grew from ₹622.44 million (13.01% of revenue from operations) in Fiscal 2023 to ₹4,474.29 million (47.54% of revenue from operations) in Fiscal 2025.
- Wide network of Intermediaries with optimum asset portfolio utilisation: As of August 31, 2025, the company had a network of 256 overseas agents, 124 shipping lines and agencies, 77 transporters, 59 custom house agents, 16 airlines, and 32 consol agents and container freight stations. The company owns 17 commercial vehicles and undertook 4,209 trips through hired commercial vehicles during Fiscal 2025. The ocean freight volume increased by 88.74% from 59,417 TEUs in Fiscal 2023 to 112,146 TEUs in Fiscal 2025.
- Scaled multimodal logistics operations with diverse project handling capabilities: The company offers multimodal logistics services including ocean freight forwarding (project cargo load and full container load, import and export), air freight forwarding (import and export), and road transportation along with ancillary services. Ocean freight operations accounted for 94.70% of revenue from operations in Fiscal 2025. The company has transported goods cumulatively weighing 864 MT in Fiscal 2025 and operates across 125 countries through 8 branch offices.
- Longstanding relationships with diverse customer base across industries: The company served 1,908 customers in Fiscal 2025 across multiple industries including renewable energy, engineering products, home appliances, granite and minerals, timber and other industries. The company had 871 repeat customers in Fiscal 2025. Revenue from orders received through referrals from customers for renewable energy industry was ₹1,207.62 million (12.83% of revenue from operations) in Fiscal 2025.
- Widespread international presence across multiple continents: The company has operations across regions including Asia, North America, Europe, South America, Africa and Australia. During Fiscal 2025, operations were spread across 125 countries. The company has established local presence in Singapore, United Arab Emirates and Vietnam through Group Companies. Asia contributed 89.98% of total volume (100,907 TEUs) in Fiscal 2025.
- Strong financial growth with demonstrable performance metrics: The company demonstrated consistent growth with ocean freight volume increasing by 88.74% from 59,417 TEUs in Fiscal 2023 to 112,146 TEUs in Fiscal 2025. Revenue from operations grew from ₹4,782.73 million in Fiscal 2023 to ₹9,411.73 million in Fiscal 2025. EBITDA margins increased from 7.00% in Fiscal 2023 to 8.34% in Fiscal 2025, while PAT margins grew from 4.69% to 5.97% during the same period.
- Skilled and experienced management team with relevant industry experience: The company operates under the guidance of Promoters and Managing Directors Ramkumar Senthilvel and Kuttappan Manikandan, supported by qualified Key Management Personnel and Senior Management team. The company has two decades of operational experience through the erstwhile partnership firm M/s. Glottis formed in 2004. The company was the top supporter of SAFMARINE for 4 consecutive years (FY13 to FY16) and 3rd top supporter of MAERSK for 2 consecutive years (FY15 & FY16).
Open IPOs for Subscription
No Open IPOs
Stay tuned, there will be more IPOs listing soon!
Listed IPOs
No Listed IPOs
Stay tuned, there will be more IPOs listing soon!
Invest & Trade with a Trading
Platform That's #MadeForTrade
Open your Dhan Account in minutes!
