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Glottis IPO
2.03xsubscribed

Glottis IPO

Logistics
listed
₹13,680Min. investment

Glottis Limited IPO Details

SectorLogistics
Price range₹120 – ₹129
IPO type
Regular
Lot size114 shares
Issue size₹307Cr
Red Herring Prospectus
Read
Market cap
₹1,192CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹941.1CrHigher than sector avg
Growth rate3Y CAGR
40.28%Higher than sector avg

Glottis IPO Subscription Status

Date
QIB
NII
Retail
Total
29-Sep-25
1.79 times (X)
0.16 times (X)
0.22 times (X)
0.42 times (X)
30-Sep-25
2.12X
0.96X
0.59X
0.94X
01-Oct-25
2.31X
2.77X
1.39X
2.03X

As on 29-Sep-25, 5:00 PM

Glottis IPO Timeline

  1. Pre-apply
    26 Sep 2025
  2. Bid start
    29 Sep 2025
  3. Bid end
    1 Oct 2025
  4. Allotment
    3 Oct 2025
  5. Release of funds
    6 Oct 2025
  6. Demat transfer
    6 Oct 2025
  7. Listing
    7 Oct 2025

About Glottis Limited

Glottis Limited is a multi-modal integrated logistics solutions company offering end-to-end freight management through ocean, air, and land transport. Its services include freight forwarding, warehousing, storage, cargo handling, third-party logistics (3PL), and customs clearance to various industries.
The company has established a good track record in mobilising large volumes of cargo, managing around 112,146 twenty-foot equivalent units (TEUs) of import volume through ocean freight during FY25.
The company is a prominent logistics partner in the renewable energy industry, which generated 47.54% of FY25 revenue, up from 42.42% in FY24 and only 13% in FY23. Its clients are top renewable power generators and component manufacturers in solar, wind, and hydro segments. Apart from renewables, engineering products contribute 12.69% of revenue, granite & minerals contribute 9.23%, timber contributes 5.65%, home appliances contribute 4.89% and agro products contribute 2.78% in FY25. Glottis has a presence in 125 nations with a robust intermediary network of 256 overseas agents, 124 shipping lines, 77 transporters, 59 customs house agents, 16 airlines, and 32 container freight stations as of August 31, 2025.
In the domestic market, the company has a pan-India presence through 8 branch offices that cover major transport hubs with the support of registered and corporate offices in Chennai. Globally, the company has served 125 countries across 6 continents, including Europe, North & South America, Africa, the Middle East, and Asia. It has a strong presence in China, Vietnam and Malaysia, with China contributing 33.18% of FY25 revenue.
The company’s business model balances owned assets with a strong reliance on intermediaries. As of FY25, Glottis owned 17 commercial vehicles but supplemented its operations with 4,209 trips via hired vehicles. Ocean freight remained its core vertical, accounting for 94.7% of FY25 revenue. Air Freight (Import) contributed 1.47%, Air Freight (Exports) 0.45% and road transport 3.38%.
Glottis has executed large-scale logistics projects, including the chartering of dedicated vessels for solar components from Vietnam, complex out-of-gauge cargo handling, and door-to-door logistics for marquee customers. Its strong referral-driven customer acquisition contributed 12.8% of FY25 revenue from renewables through referrals, highlighting the company’s reputation and long-standing relationships. In FY25, Glottis catered to 1,908 customers, with repeat customers forming a large share of its revenues.
The Indian Ocean freight market has expanded from $4.5 billion in FY19 to $7.8 billion in FY24 and is projected to reach $13.9 billion by FY29, with a robust CAGR of 11.9% over FY24-29. The company with a majority share of revenue from this segment is well-positioned to capitalise on this increase in demand. Additionally, the installed solar capacity is expected to grow at a strong CAGR of 23.8% from FY25-30. The company is positioned to gain from the industry tailwinds as it is one of the leading freight forwarding players operating in the renewable energy sector, import and export in India.
The company intends to increase its market share by expanding its asset portfolio and revenue streams, increasing its global footprint and augmenting growth. It is aiming to become a “total logistics provider by providing end-to-end solutions.
Now, Glottis Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹160 crore and an offer-for-sale worth ₹147 crore. The total issue size of the IPO is ₹307 crore. Its shares will be listed on the NSE and BSE.

Checklist

Quality analysis
Revenue growth
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Risk analysis
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Strength and Weakness

Leading freight player

With over two decades of experience, Glottis is one of the leading freight forwarding players operating in the renewable energy sector, import and export in India. Its expertise in handling complex and fragile cargo, global presence, and scalable operations position it strongly to benefit from rising renewable energy demand and industry tailwinds.

Wide network

The company had a network of 256 overseas agents, 124 shipping lines and agencies, 77 transporters, 59 customs house agents, 16 airlines, 32 consol agents and container freight stations, among others. As part of the ocean freight operations, the company obtains the majority of assets and services required for executing its orders from third parties, enabling it to mobilise larger volumes of cargo, reduce the cost and time involved in executing an order.

Scaled multimodal logistical operations

The company’s logistics services with multimodal capabilities across verticals, with ocean freight import contributing 82.97% of revenue, ocean freight export contributing 11.73%, air freight import 1.47%, air freight export 0.45 % and road transport contributing 3.38 % in FY25.

Diverse and long-standing customer base

The company has established long-standing customer relationships with 871 repeat customers served in FY25. It also has a diverse customer base and caters to 1,908 customers spread across multiple industries, including the renewable energy industry, engineering products, home appliances, etc

Widespread international presence

The operations were spread across 125 countries in FY25. It has operations across regions, including Asia, contributing 89.98% of revenue, North America contributing 3.77%, Africa contributing 2.24% and Europe contributing 2.10% in FY25.

Objectives of Glottis Limited IPO

Funding capital expenditure
82.84%
The company will use up to ₹132.54 crore to purchase commercial vehicles and containers.
General corporate purposes
17.10%
Part of the IPO proceeds will be used for general corporate purposes.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹941.1Cr40.28%₹56.14Cr₹1,192Cr18.380.22
This sector (avg.)₹711.28Cr0.02%-₹13.78Cr₹1,677.75Cr34.350.59
₹8,887.02Cr---₹1,291.84Cr₹38,252.26Cr31.230.07
₹6,763.79Cr---₹787.42Cr₹25,640.55Cr35.750.99
₹426.73Cr----₹38.28Cr₹10,164.42Cr29.860.03

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Glottis IPO Contact Details

Company NameGlottis Limited

How to apply for Glottis IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Glottis Limited IPO FAQs

Investors can apply for the Glottis IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Glottis IPO is 307 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Glottis IPO will be open between 2025-09-29 and 2025-10-01.
Glottis IPO allotment date is 2025-10-06. For Glottis IPO allotment status check, you can visit the website of the registrar of the IPO.
For Glottis IPO, the IPO registrar is KFin Technologies Limited. You can check Glottis IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Glottis IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Glottis IPO lot size is 114 and minimum order quantity is 114.
Glottis IPO has set the price band for its IPO at 129 per equity share with a face value of 2.