- Bid /Offer Opening Date – Monday, September 29, 2025, and Closing Date –Wednesday, October 1, 2025
- Bids can be made for a minimum of 114 Equity Shares and in multiples of 114 Equity Shares thereafter
- Company with strong Gujarat presence, global operations across 23 countries, and 41 branches in India reports FY25 revenue of ₹941 crore
NE BUSINESS BUREAU
AHMEDABAD, SEPT 27
Chennai-based Glottis Limited, a fast-growing multi-modal logistics solutions company with a significant operational footprint in Gujarat’s ports and logistics hubs, has fixed the price band of its Initial Public Offering (IPO) at ₹120–₹129 per equity share of face value ₹2 each.
Ahead of the IPO, the company raised ₹55.26 crore from seven institutional investors via the anchor book on Friday, September 26. A total of 42,83,755 equity shares were allotted to anchor investors at the upper price band. Among the key participants were Meru Investment Fund (₹15 crore), LC Pharos Multi Strategy Fund, and VPK Global Ventures Fund (₹10 crore each), along with Abans Finance, M7 Global Fund, The Asio Fund, and Sunrise Investment Opportunities Fund.
The IPO, which opens on September 29, 2025 and closes on October 1, 2025, aims to raise ₹307 crore. Investors can bid for a minimum of 114 equity shares and multiples thereof.
Gujarat & Global Connection
Glottis Limited has built a strong Gujarat base through its extensive operations across Mundra, Kandla, Hazira and Pipavav ports, making the state a key logistics hub for its multimodal cargo handling.
Internationally, the company operates in 23 countries across Asia, Europe, Africa and the Middle East, while within India it has a network of 41 branches spanning all major trade and transport corridors. Gujarat alone contributes a significant share of its trade volumes and revenue.
Use of Proceeds & Financial Performance
From the fresh issue proceeds, around ₹130–₹135 crore will be utilised to purchase 150 commercial vehicles and 1,000 containers, part of the company’s backward integration strategy.
For FY25, Glottis Limited reported a revenue of ₹941 crore and net profit of ₹56 crore. Compared with the industry’s average growth of 6–7%, the company has consistently delivered a CAGR of 18–23%, underscoring its strong execution and expansion capability.
Promoters’ Vision
Founded in 2004 and grown without any private equity or venture capital funding, Glottis Limited is promoted by Ramkumar Senthilvel and Kuttappan Manikandan, who will dilute about 25–26% stake via the IPO.
Speaking on the company’s journey, the promoters said: “We are very conservative but ambitious and bullish. Starting from scratch, we built this company brick by brick, with Gujarat’s ports playing a central role in our logistics ecosystem. Today, with operations in 23 countries and 41 branches across India, we are poised to strengthen multimodal connectivity and unlock the next phase of growth.”
Listing & Book Running Lead Manager
The equity shares are proposed to be listed on BSE and NSE, with Pantomath Capital Advisors Pvt. Ltd. acting as the Book Running Lead Manager to the offer.
