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Glottis IPO
Price Band
₹120.0–129.0
Issue Size
₹307.0 Cr
Lot Size
114 shares
Min Investment
₹14,706
GMP
—
Issue Price
₹129.0
Glottis IPO AI Summary
- Glottis IPO is listed on BSE, NSE in the Logistics Solution Provider sector.
- Price band: ₹120.0–₹129.0 per share, lot size 114 shares (min. investment ₹14,706).
- Subscription window: 29 Sep–01 Oct 2025, listing on 07 Oct 2025.
Glottis Limited is a logistics solutions provider with a strong focus on multimodal transportation. The company has shown significant growth in revenue and profit over the past few years, supported by a wide network and strong customer relationships. Investors should consider the company's financial health and market conditions when evaluating this IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Glottis IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 01 Oct 2025 — not a current signal.
Reviewers are split — see individual calls below.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Glottis IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in June 2024, Glottis Limited is a logistics solutions company that offers comprehensive transportation services through ocean, air, and road logistics. The company provides end-to-end logistics solutions with multimodal capabilities across various sectors, optimizing the movement of goods across different regions. Our services include: Ocean freight forwarding, including project cargo loads and full container loads for both import and export Air freight forwarding for both import and export Road transportation Ancillary services such as warehousing, storage, cargo handling, third-party logistics (3PL), and customs clearance During Fiscal Year 2024, Glottis Limited handled approximately 95,000 TEUs of imports via ocean freight. As of Feb 2025, the company operates in India through 8 branch offices in New Delhi, Gandhidham, Kolkata, Mumbai, Tuticorin, Coimbatore, Bengaluru, and Cochin, with registered and corporate offices in Chennai, covering major transportation hubs. The company has exported its products to the countries such as Europe, North America, South America, Africa, Middle East and Asia. For the six months ended September 2024 and for Fiscals 2024, 2023, and 2022, the company served 1,246, 1,662, 1,513, and 1,476 customers across 119, 100, 87, and 85 countries, respectively. As of January 10, 2025, the company had a network of 171 overseas agents, 98 shipping lines, 52 transporters, 43 customs house agents, 22 airlines, and 20 consol agents, built on longstanding relationships. As of January 10, 2025, the company owns 17 commercial vehicles. Our extensive vehicle and agency network allows us to scale with increasing demand and seize large business opportunities. Competitive Strength One of the leading freight forwarding players operating in the Renewable Energy Industry Wide network of Intermediaries coupled with optimum utilisation of our asset portfolio. Scaled multimodal logistics operations with capabilities of handling diverse projects. Longstanding relationship with a diverse set of customers across industries. Widespread international presence. Skilled and experienced management team with relevant industry experience.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 156.10 | 81.72 | 72.08 |
| Total Income | 942.55 | 499.39 | 478.77 |
| Profit After Tax | 56.14 | 30.96 | 22.44 |
| EBITDA | 78.45 | 40.36 | 33.47 |
| NET Worth | 98.53 | 42.35 | 11.52 |
| Reserves and Surplus | 82.53 | 41.35 | 10.52 |
| Total Borrowing | 22.14 | 8.08 | 30.61 |
Key Ratios
EPS
₹7.02
NAV
₹12.32
ROE
56.98%
ROCE
72.58%
RoNW
56.98%
P/B Value
10.47
P/E Ratio
18.38
Market Cap
₹1192.00 Cr
PAT Margin
5.97%
Debt/Equity
0.22
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Transport Corporation of India | 279.65 | 19.42% | 25.6 | 53.43 | 53.43 |
| Allcargo Logistics | 24.65 | 2.03% | 17.95 | 1.75 | 1.75 |
| Glottis This IPO | 12.32 | 56.98% | — | 7.02 | 7.02 |
Promoters
Ramkumar Senthilvel and Kuttappan Manikandan
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of capital expenditure requirements of the Company towards purchase of commercial vehicles and containers 132.54 2 General Corporate Purposes 12.66 3 Issue Expenses 28.39 Total 173.60
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹478.77 Cr in the fiscal year ending 31 Mar 2023, increasing to ₹499.39 Cr by 31 Mar 2024, and further rising to ₹942.55 Cr by 31 Mar 2025. This indicates a significant upward trend in revenue over the periods analyzed.
Profit Trend
Profit After Tax was ₹22.44 Cr for the fiscal year ending 31 Mar 2023, which rose to ₹30.96 Cr by 31 Mar 2024, and further increased to ₹56.14 Cr by 31 Mar 2025. This shows a consistent growth in profitability across the reported periods.
Valuation
At the issue price of ₹129.0, Glottis has an implied P/E ratio of 18.38 based on its EPS of ₹7.02. This is in comparison to peers like Transport Corporation of India, which has a P/E of 25.6, and Allcargo Logistics, which has a P/E of 17.95.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the demand and supply dynamics in the grey market, where shares are traded before they are officially listed. A positive GMP suggests strong demand, while a negative GMP indicates weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market position, and financial health. It is important to consider the overall market conditions and individual investment goals.
Who May Want to Wait
Conservative investors who prefer stable returns and lower risk may want to avoid investing in IPOs like this, as they can be subject to significant fluctuations in share price, especially in the initial trading days.
Listing Gains — The Risk
Investing in IPOs carries the risk of listing-day gains being uncertain. While some IPOs may see a rise in share price on the first day of trading, others may not. Factors influencing listing gains include market conditions, investor sentiment, and the company's fundamentals.
This evaluation is generated from Glottis's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Glottis IPO?
The price band of Glottis IPO is ₹120.0–₹129.0 per share.
When does Glottis IPO open and close?
Glottis IPO opens on 29 September 2025 and closes on 01 October 2025.
When does Glottis IPO list on the stock exchange?
Glottis IPO listed on 07 October 2025 at ₹129.0.
What is the lot size for Glottis IPO?
The lot size for Glottis IPO is 114 shares, requiring a minimum investment of ₹14,706.
What is the price band for the IPO?
The price band for the IPO is ₹120.0 to ₹129.0.
What is the minimum investment required?
The minimum investment required is ₹14,706.
What is the lot size for the IPO?
The lot size for the IPO is 114 shares.
When does the IPO open and close?
The IPO opens on September 29, 2025, and closes on October 1, 2025.
When will the shares be listed?
The shares are expected to be listed on October 7, 2025.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
29 Sep 2025
Close
01 Oct 2025
Allotment
03 Oct 2025
Listing
07 Oct 2025
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