Glottis Launches ₹160 Crore Fresh Issue, OFS of 1.13 Crore Shares in Upcoming IPO
Glottis IPO Opens September 29: Strong Retail, Institutional Participation Expected
Glottis Limited to List on BSE & NSE; Anchor Bidding on September 26
“Every Move is a Mission”: Glottis MD Manikandan Highlights Global Freight Strength Ahead of IPO
Glottis Limited IPO Snapshot
IPO Opens: Monday, September 29, 2025
IPO Closes: Wednesday, October 1, 2025
Anchor Bidding Date: Friday, September 26, 2025
Price Band: ₹120 – ₹129 per equity share (face value ₹2)
Lot Size: 114 shares and multiples thereof
Issue Size: Fresh Issue of ₹160 crore + Offer for Sale of 1,13,95,640 shares
Promoter OFS: 56,97,820 shares each by Ramkumar Senthilvel & Kuttappan Manikandan
Reservation: QIBs ≤ 30% | NIBs ≥ 30% | Retail ≥ 40%
Listing: BSE & NSE
Book Running Lead Manager: Pantomath Capital Advisors Pvt. Ltd.
RHP Link: Glottis Limited RHP PDF
Bilkul Bazaar
Glottis Limited, a fast-growing company, is set to launch its Initial Public Offering (IPO) on Monday, September 29, 2025, with the Anchor Investor bidding scheduled for Friday, September 26, 2025. The issue will close on Wednesday, October 1, 2025.
The company has fixed the price band at ₹120 to ₹129 per equity share of face value ₹2 each. Investors can bid for a minimum of 114 equity shares and in multiples thereof.
Offer Structure
The IPO comprises a Fresh Issue of equity shares aggregating up to ₹160 crore and an Offer for Sale (OFS) of up to 1,13,95,640 equity shares by the selling shareholders. The OFS includes up to 56,97,820 equity shares each by promoters Ramkumar Senthilvel and Kuttappan Manikandan.
The Offer will be made through the Book Building Process in compliance with SEBI ICDR Regulations. Not more than 30% of the Offer will be allocated to Qualified Institutional Buyers (QIBs), with up to 60% of the QIB portion available for Anchor Investors. At least one-third of the Anchor allocation is reserved for domestic mutual funds.
Further, not less than 30% of the Offer will be reserved for Non-Institutional Bidders (NIBs) and not less than 40% for Retail Individual Bidders (RIBs). All investors, except Anchor Investors, are required to participate through the Application Supported by Blocked Amount (ASBA) mechanism.
Leadership and Management Speak
At a media interaction in Ahmedabad, company leaders and the Book Running Lead Manager (BRLM) outlined the vision behind the IPO.
K Manikandan Nair, Managing Director, Glottis Limited, said, “This IPO is a crucial step in strengthening our balance sheet and supporting future expansion. The fresh issue proceeds will provide us with growth capital, while the offer for sale will give our promoters partial liquidity.”
S Ramkumar, Managing Director, Glottis Limited, added, “We have built a robust business model and the market opportunity ahead is compelling. Through this listing, we aim to enhance our visibility and governance standards while creating value for all stakeholders.”
A Rajshree, Chief Financial Officer of Glottis Limited, highlighted the financial strategy:
“The capital raised will help us fund growth initiatives and improve leverage. We are committed to maintaining financial prudence alongside expansion.”
Representing the lead manager, Dihant Sagwaria, President, Pantomath Capital Advisors, stated:
“Investor appetite for strong mid-market stories like Glottis is very encouraging. We are confident the issue will receive strong participation across categories.”
Listing and BRLM
The equity shares of Glottis Limited are proposed to be listed on both BSE and NSE.
Pantomath Capital Advisors Private Limited is the Book Running Lead Manager to the Offer.
The Red Herring Prospectus (RHP), dated September 22, 2025, is available here: Glottis Limited RHP PDF
S Ramkumar, Managing Director, Glottis Limited, emphasized the company’s vision for growth and governance through listing, while co-promoter Kuttappan Manikandan, Managing Director, highlighted Glottis’s operational strength:
“Glottis is a trusted and efficient global maritime freight partner. On a daily basis, we offer a comprehensive range of services to send cargo to every corner of the globe. We offer set departures and near-perfect transit times via ocean freight to create optimized and consistent supply chains. At Glottis, every move is a mission in the world of logistics. Whether you’re shipping across borders or managing bulk at scale, we’re your trusted partner for seamless freight, warehousing, and transport solutions—driven by precision, powered by experience.”
Disclaimer: This news is for informational purposes only. Please refer to official offer documents and consult a financial advisor before investing.
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