Chennai based Glottis Limited, which offers multi-modal integrated logistics solutions, has announced to tap the capital market to raise upto ₹160 crore through a fresh issue of its equity shares and ₹147 crore via Offer for Sale (OFS) by Ramkumar Senthilvel and Kuttappan Manikandan, the Promoter Selling Shareholders.
The price band has been fixed between ₹120-₹129 per equity share of face value ₹2 each. Bids can be made for a minimum of 114 equity shares and multiples of 114 shares. The IPO will open on Monday (September 29, 2025) and close on Wednesday (October 1, 2025).
From the proceeds of the fresh issue an amount of ₹130 crore to ₹135 crore will be utilised to buy 150 commercial vehicles (trucks) and 1,000 containers as part of the company’s backward integration strategy.
For FY25 the company has reported a topline of ₹941 crore and net profit of ₹56 crore. As compared with the industry growth of 6% to 7% the company has been growing at a CAGR of 18% to 23%, the promoters said.
The promoters who have grown the company to this size from its inception in 2004 without any Private Equity or Venture Capital funding, will be diluting their stake by 25% to 26% via this IPO.
“We are very conservative but ambitious and bullish,” said Ramkumar Senthilvel and Kuttappan Manikandan, both of whom are Managing Director of the company.
Published – September 25, 2025 07:11 am IST
