Glottis IPO Day 1: Issue subscribed 31% so far; QIBs take lead; check category-wise status

Until 3 PM, the initial share sale received bids for 6,148,134 shares as compared to 20,123,929 shares on offer, as per exchange data.

The non-institutional investor (NII) segment was subscribed 0.12 times, while the retail individual investor (RII) portion drew 0.18 times subscription. However, the qualified institutional buyers (QIB) category was booked 1.24 times.

The IPO includes a fresh issue and an offer for sale and has a price band set between ₹120 and ₹129 per share. The IPO is a book-building issue, comprising a fresh issue of ₹160 crore.

The minimum lot size for an application is 114 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹307 crore.

Glottis Limited IPO will be closed for subscription on October 1, 2025. After this, investors are expected to be updated about the allotment status on October 3, 2025. 

Investors who have been allotted shares can expect them to be credited to their demat account on October 06, 2025. The shares will be listed on the NSE and the BSE on Tuesday, October 7, 2025.

Glottis Limited is a multi-modal integrated logistics solutions provider offering end-to-end freight management across ocean, air, and land transport. Its service portfolio spans freight forwarding, warehousing, storage, cargo handling, third-party logistics (3PL), and customs clearance for a wide range of industries.

The company has built a strong track record in handling large cargo volumes, managing around 112,146 twenty-foot equivalent units (TEUs) of import volume through ocean freight in FY25.

Glottis has emerged as a leading logistics partner in the renewable energy sector, which contributed 47.54% of revenue in FY25, up from 42.42% in FY24 and just 13% in FY23. Its client base includes top renewable power generators and component manufacturers in the solar, wind, and hydro segments. Beyond renewables, revenue contributions in FY25 came from engineering products (12.69%), granite & minerals (9.23%), timber (5.65%), home appliances (4.89%), and agro products (2.78%).

The company has a global footprint spanning 125 countries, supported by 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.