The Glottis IPO is one of the most-awaited Mainboard IPOs of 2025. Glottis Ltd., a key player in ocean haulage, air freight, and overland transport, is raising Rs. 307 crore through this issue. The IPO combines a fresh issue of Rs. 160 crore and an offer for sale (OFS) of Rs. 147.crore.
Glottis IPO - Company Overview
Glottis Ltd. has a diverse operational footprint:
Full-Truck Load (FTL), Less-than-Truck Load (LTL), and express parcel services.
Ocean and air freight forwarding.
Road transportation, warehousing, storage, cargo handling, third-party logistics (3PL), and customs clearance.
Additionally, Glottis is active in India’s renewable energy logistics, handling around 21.09 GW of solar haulage by FY25, which is nearly 19.8% of India’s installed solar capacity.
Glottis IPO Details
IPO Open Date: September 29, 2025
IPO Close Date: October 1, 2025
Allotment Date: October 3, 2025 (Tentative)
Refunds: October 6, 2025 (Tentative)
Listing Date: October 7, 2025 (Tentative)
Price Band: Rs. 120 to Rs. 129 per share
Issue Size: Rs. 307 crore (1.24 crore fresh issue + 1.14 crore OFS)
Lot Size: 114 shares per lot
The IPO will be listed on both BSE and NSE.
Retail investors can invest from 1 lot (Rs. 14,706) up to 13 lots (Rs. 1,91,178), while S-HNI and B-HNI investors have higher lot limits. The issue allocation is 40% for retail investors, 30% for institutions, and 30% for non-institutional investors.
Industry Outlook
The Indian logistics sector is projected to grow at a CAGR of 9.6%, driven by increasing demand for express delivery, e-commerce growth, and renewable energy logistics. Glottis Ltd. is well-positioned to benefit from these trends.
Glottis Ltd - Financial Highlights
Glottis Ltd. has shown strong growth over the past three years:
Total Income: Rs. 942.55 lakh in FY25 (up from Rs. 499.39 lakh in FY24)
Profit After Tax (PAT): Rs. 56.14 lakh in FY25 (up ~4x from FY23)
EBITDA: Rs. 78.45 lakh in FY25
Net Worth: Rs. 98.53 lakh
The company has strengthened its balance sheet with reduced debt and has maintained a steady ROE of 56.98%.
The objective of the IPO is to fund capital expenditure for commercial vehicles and containers (~Rs. 132.54 crore) and general corporate purposes.
Glottis IPO Strengths
Strong presence in renewable energy logistics (~19.8% share in India’s solar capacity haulage).
Diversified freight services covering ocean, air, and road logistics.
Robust financial performance with significant PAT growth from FY23 to FY25.
Reduced leverage and a strong balance sheet.
Glottis IPO Weaknesses
Vulnerable to global freight volatility (port congestion, tariffs, fuel prices).
Dependence on renewable energy haulage and government policies may affect growth.
EBITDA margins are lower compared to peers like Allcargo Terminals.
Execution risks exist in expanding express parcel and LTL segments.
Glottis IPO GMP and Listing Price
As of September 26, 2025, the Glottis IPO GMP (grey market premium) is around Rs. 15. Based on this, the estimated listing price could be approximately Rs. 144, factoring in the upper price band and current GMP.
Glottis IPO Allotment
Investors can check their Glottis IPO allotment status on the Kfin Technologies website or via BSE/NSE allotment portals. The allotment process will be completed by October 3, 2025, with refunds starting on October 6.
The Glottis IPO offers investors a chance to participate in a growing logistics company with significant exposure to renewable energy supply chains. The company has demonstrated strong financial growth and balance sheet improvement.
However, potential investors should consider risks related to global freight volatility, sector dependence, and margin pressures.
Disclaimer:
This blog is for educational purposes only and does not constitute financial advice. Investors should consult their financial advisor before applying for any IPO.
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