Glottis Limited IPO is fully book build issue and it includes both fresh issue and offer for sale. The issue contains fresh issue worth ₹160 crores and offer for sale up to 1.45 crore shares.
The dates for the Glottis IPO have not been announced yet.
The allotment process is expected to be finalized by [.]. The Glottis IPO is scheduled to list on BSE, NSE, with a tentative listing date of [.].
The price band for the Glottis IPO has not been announced yet.
Registrar for this IPO is KFin Technologies Limited and lead managers for Glottis IPO are Pantomath Capital Advisors Private Limited.
IPO Schedule
| IPO Open Date | - |
|---|---|
| IPO Close Date | - |
| IPO Allotment Date | - |
| Refund Initiation | - |
| Share credit in Demat | - |
| Listing Date | - |
Key Details
| Price Band | TBA |
|---|---|
| Lot Size | TBA |
| Face Value | ₹2 Per Equity Share |
| Total Issue Size | 14,500,000 Shares + ₹160 Crores |
| Fresh Issue | ₹160.00 Crores |
| OFS Issue | 14,500,000 Shares |
| Issue Type | Fresh Issue and Offer for Sale |
| Listing At | BSE, NSE |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 75% |
| Retail | 10% |
| NII/HNI | 15% |
About Glottis Limited Company
Glottis Limited offers multi-modal integrated logistics solutions, encompassing end-to-end transportation via ocean, air, and road. Our comprehensive services include freight forwarding (project cargo, FCL, import/export), warehousing, storage, cargo handling, and 3PL services.
We provide value-added services like packaging, labeling, reverse logistics, and customs brokerage. As a member of global freight forwarding networks, we foster trade partnerships and ensure swift deliveries via affiliations with national and regional carriers. Our warehousing services emphasize standardized operations, speedy onboarding, secure storage, and customizable solutions.
Glottis has demonstrated expertise in key sectors experiencing growth, including renewable energy. We played a significant role in the movement of 13.8 GW of solar panels as of March 2024. Glottis revenue from operations stood at INR 497.17 million in FY24, with an EBITDA of INR 40.36 million and a PAT of INR 30.96 million. Our EBITDA and PAT margins were 8.12% and 6.23% respectively.
We navigate a competitive landscape by offering organized document handling, custom clearance, shipment tracking, and effective grievance management. Our widespread international network and handling of ~95,000 TEUs of imports through ocean during FY24 have garnered industry recognition. Glottis operates pan-India with 8 branch offices and has a presence in countries across Europe, North & South America, Africa, Middle East and Asia.
Glottis Limited Financial Details
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 171.62 | 81.72 | 72.08 | 103.62 |
| Revenue | 436.32 | 497.18 | 478.27 | 875.83 |
| Profit After Tax | 31.26 | 30.96 | 22.44 | 32.74 |
| Net Worth | 73.50 | 42.35 | 11.52 | 0.01 |
| Reserves and Surplus | 57.50 | 41.35 | 10.52 | -0.00 |
| Total Borrowing | 38.97 | 8.08 | 30.61 | 42.18 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 3.87 | 73.10 | 5.29 | 0.19 | 73.10 | 95.91 |
Offer Objectives
The Offer involves a fresh issue of equity shares of ₹2 each, aggregating up to ₹16 crore, and an Offer for Sale of up to 14,500,000 equity shares. The company will not receive proceeds from the Offer for Sale; these will go to the Promoter Selling Shareholders.
Object of the Fresh Issue: The company plans to use the net proceeds to fund capital expenditure requirements, specifically for purchasing commercial vehicles and containers, and for general corporate purposes.
The gross proceeds from the Offer are estimated to be up to ₹16 crore, with the net proceeds (after deducting offer-related expenses) to be updated in the Prospectus. Approximately ₹13 crore is allocated to funding capital expenditure, with the remainder for general corporate purposes, not exceeding 25% of the Gross Proceeds as per SEBI ICDR Regulations.
Promoter Shareholding: Ramkumar Senthilvel and Kuttappan Manikandan each hold 39,592,000 equity shares, representing 49.49% of the pre-offer equity share capital, respectively. They are also offering up to 7,250,000 shares each in the Offer for Sale.
The utilization of the Net Proceeds is planned for Fiscal 2026, with ₹13 crore allocated to purchasing commercial vehicles and containers. The company confirms it has not made firm arrangements of finance through verifiable means towards at least 75% of the stated means of finance.
The Offer also details lock-in periods for promoters' contributions and equity shares allotted to anchor investors, as per SEBI ICDR Regulations.
Company Details
Address:
New No. 46, Old No. 311, 1st Floor,
Thambu Chetty Street, Chennai - 600 001,
Tamil Nadu, India
Phone: +91 44 4266 5587, +91 98 4092 0440, +91 44 4266 8366
Email: [email protected]
Website: http://www.glottislogistics.in
IPO Registrar Details
KFin Technologies Limited
Phone: +91 40 6716 2222, 1800 309 4001
Email: [email protected]
Website: http://www.kfintech.com
Offer Prospectus & Documents
Lead Managers
- Pantomath Capital Advisors Private Limited
