Glottis share price: Stock debuts at nearly 35% discount on NSE; here's how much investors lost per lot

On the BSE, the stock listed at ₹88, down 31.78% from the issue price.

Glottis share price share price: Here's how much investors lost per lot

The Chennai-based company's ₹307 crore initial share sale was a mix of a fresh issue worth ₹160 crore and an offer for sale (OFS) of up to 1.14 crore equity shares amounting to ₹147 crore.

Proceeds from the fresh issue will be utilised for the purchase of commercial vehicles, debt repayment and general corporate purposes.

The initial public offer attracted 2.05 times subscription during the three-day subscription window as it got bids for 4,12,93,878 shares compared to 2,01,23,929 shares on offer, as per the BSE data.

The category meant for non-institutional investors (NIIs) fetched 2.97 times subscription, while the quota for qualified institutional buyers (QIBs) secured 1.87 times subscription. The portion for retail investors got subscribed 1.42 times.

Before the IPO, the company mobilised ₹55.26 crore from anchor investors, including LC Pharos Multi Strategy Fund VCC, Abans Finance, Sunrise Investment Opportunities Fund, Meru Investment Fund PCC-CELL 1 and VPK Global Ventures Fund.

Glottis Ltd is a leading multi-modal, integrated logistics service provider with a focus on energy supply chain solutions. It serves clients across industries, including renewable energy, granite & minerals, engineering products, logistics, timber, agro, consumer durables, home appliances, automobile, plywood, textiles, construction, medical, chemicals, and FMCG.

The company operates pan-India through a network of eight branch offices in New Delhi, Kolkata, Mumbai, Gandhidham, Tuticorin, Bengaluru, Coimbatore, and Cochin.