Glottis IPO

About Glottis IPO

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include 1,24,03,100 shares (aggregating up to ₹160.00 crore). The offer for sale portion includes 1,13,95,640 shares of ₹2 (aggregating up to ₹147.00 crore). The total number of shares is 2,37,98,740 shares and the aggregate amount is ₹307.00 crore.

The Glottis IPO opens on Monday Sep 29, 2025 and closes on Wednesday 1, oct , 2025. The tentative allotment date is Oct 3, 2025. The initiation of refunds will take place on Oct 6, 2025. The tentative listing date is Oct 7, 2025.

With over two decades of experience, Glottis is one of the leading freight forwarding players operating in the renewable energy sector import and export in India (Source: Company Commissioned 1Lattice Report). Over the years they have developed a specialised customer base, comprising power generation and component manufacturing companies engaged in the renewable energy industry. Through their intermediary base, they have harnessed capabilities of executing complex orders which involve transportation of fragile and specialised products across the supply chain in this industry. Owing to the rising demand for renewable energy, on account of it being sustainable, cost effective and environmentally friendly, their service offerings are complementary to this industry. Therefore, the demand for their services is directly proportional to the demand for products in this industry.

Objectives of Glottis IPO

• Funding of the capital expenditure requirements of the company towards the purchase of commercial vehicles and containers.
  
• General corporate purposes.
  

Industry Outlook

The Indian logistics industry is expected to grow steadily at a CAGR of 9.6%, reaching ₹37,00,000 crores by FY30. The logistics sector has been recognised as a core enabler for the development of India to reach the government’s vision of achieving a US$ 5,00,000 crores economy by CY25. As per the Economic Survey FY18, the logistics industry in India was pegged at ₹12,80,000 crores in FY19. The industry has grown at a 10.6% CAGR to ₹23,40,000 crores (US$ 27,670 crores) over FY19-25. The logistics industry is forecast to reach ₹37,00,000 crores (US$ 43,760 crores) by FY30, growing at a CAGR of 9.6%.

The Indian ocean freight market has expanded from US$ 450 crores in FY19 to US$ 780 crores in FY24 and is projected to reach US$ 1,390 crores by FY29, with a robust CAGR of 11.9% over FY24-29. The Indian freight forwarding market has experienced steady growth, rising from US$ 620 crores in FY19 to US$ 1,010 crores in FY24, and is expected to reach US$ 1,700 crores by FY29, growing at a CAGR of 10.9% over FY24-29. With India’s growing and diversifying economy, the demand for efficient and reliable freight forwarding services has significantly increased (Source: Company Commissioned 1Lattice Report).

Glottis Company Information

Glottis Limited delivers end-to-end logistics solutions with multimodal capabilities across verticals to optimise the movement of goods across geographies including (i) ocean freight forwarding (project cargo load and full container load, import as well as export); (ii) air freight forwarding (import as well as export); (iii) road transportation; along with other ancillary services, including warehousing, storage, cargo handling, third-party logistics (“3PL”) services and customs clearance, among others. They have handled ~112,146 TEUs of imports through the ocean during fiscal 2025.

They integrate services of their Intermediaries and their in-house infrastructure, to offer start to finish logistical solutions to their customers. Their service offerings coupled with the capabilities of their Intermediaries enable them to offer assistance in geographically dispersed locations, while modifying operating volumes, optimising loads and maintaining flexibility in handling capacity variations depending on their customers’ requirements.

They have a track record of mobilising large volumes of cargo for their customers engaged in various industries. Their ability to mobilise higher volumes is on account of their widespread network of international freight forwarding agencies, who provide them insights on available carriers, route management and globally prevalent freight forwarding rates, which enhances their capabilities of committing carrier spaces in advance at competitive rates, thereby offering commitment of delivery.

Strengths of Glottis IPO

• One of the leading freight forwarding players operating in the renewable energy industry.
• Wide network of Intermediaries coupled with optimum utilisation of their asset portfolio.
• Scaled multimodal logistics operations with capabilities of handling diverse projects.
• Long-standing relationships with a diverse set of customers across industries.
• Widespread international presence.
• Financial growth backed by demonstrable performance metrics.
• Skilled and experienced management team with relevant industry experience.

Risks of Glottis IPO

• Unsatisfactory services provided by their network partners, intermediaries and vendors/suppliers or failure to maintain relationships with them.
  
• Any downturn in the renewable energy industry and the other industries in which their customers operate.
  
• Any loss of, or a significant reduction in, repeat customers.
  
• Any disruption or deficiencies in the logistics infrastructure, including those affecting freight and container traffic.
  
• Significant fluctuation in freight rates, including volatility in US tariff rates.
  
• Competition from small local players, unorganised players and other third-party logistics providers.
  
• Any adverse changes in economic and political conditions in areas where they operate (they have provided their services across 6 continents, in over one hundred and twenty-five (125) countries in the world; a majority of their business comes from the Asian region, particularly in China, Vietnam and Malaysia).
  
• Intrusion by pirates, sinking of a ship along with cargo, and robbery of cargo, or damage of cargo due to natural disaster.
  
• Inability to adapt to technological changes and successfully implement new technologies or failure of their information technology systems
  

• To be included in respect of our Company in the Prospectus based on the Offer Price

Notes: a) For the Company, the information above is based on the Restated Financial Statement for Fiscal 2025;

b) All the financial information for listed industry peers mentioned above is on a consolidated basis and has been sourced from the annual reports/annual results as available of the respective company for the year ended March 31, 2025 submitted to stock exchanges;

c) Market price (MP) is the closing market price of the equity shares of the respective companies as on September 12,2025;

d) P/E Ratio has been computed based on the MP divided by the EPS;

e) Basic & Diluted EPS refers to the earnings per share sourced from the annual reports/annual results as available of the respective company for the year ended March 31, 2025 submitted to stock exchanges;

f) PAT Margin is calculated as PAT divided by Revenue from Operations;

g) RoNW is computed as net profit attributable to owners of the company divided by net worth at the end of the year;

h) NAV is computed as the net worth at the end of the year divided by the closing outstanding number of equity shares.

Anchor Investor Bidding Date: Friday, 26 September 2025

Registrar: KFin Technologies Limited Book Running Lead Managers: Pantomath Capital Advisors Private Limited

Business Model

The company earns its revenue through the following sources: Delivering end-to-end logistics solutions with multimodal capabilities across verticals to optimise the movement of goods across geographies including (i) ocean freight forwarding (project cargo load and full container load, import as well as export) (ii) air freight forwarding (import as well as export) (iii) road transportation along with other ancillary services, including warehousing, storage, cargo handling, third-party logistics (3PL) services and custom clearance, among others.

Glottis Company Growth Trajectory

Glottis has demonstrated consistent growth in terms of volumes and profitability. Their ocean freight volume increased by 88.74% from 59,417 TEUs in fiscal 2023 to 112,146 TEUs in fiscal 2025, while their profit margins as a percentage of revenue from operations grew from 4.69% in fiscal 2023 to 5.97% in fiscal 2025, on the basis of their Restated Financial Statements.

Their revenue from operations increased by 89.30% from ₹497.18 crores in fiscal 2024 to ₹941.17 crores in fiscal 2025, primarily attributed to an increase in income from export services from ₹37.26 crores in fiscal 2024 to ₹100.15 crores in fiscal 2025 and an increase in income from domestic services from ₹459.91 crores in fiscal 2024 to ₹840.13 crores in fiscal 2025.

The income from freight increased by 135.41% from ₹301.27 crores in fiscal 2024 to ₹709.21 crores in fiscal 2025, income from clearing and forwarding increased by 9.74% from ₹182.37 crores in fiscal 2024 to ₹200.13 crores in fiscal 2025, and income from transport increased by 135.19% from ₹13.53 crores in fiscal 2024 to ₹31.83 crores in fiscal 2025. The overall throughput TEUs increased from 95,072 TEUs in fiscal 2024 to 112,146 TEUs in fiscal 2025.

Other income decreased by 37.99% from ₹2.21 crores in fiscal 2024 to ₹1.37 crores in fiscal 2025.

Overall throughput TEUs volumes of ocean freight increased from 95,072 TEUs in fiscal 2024 to 112,146 TEUs in fiscal 2025, which increased the ability of the company to achieve cost-competitive services from its Intermediaries. This resulted in an increase in the operating margins of the company, thereby increasing the overall profit for the year. As a result of the foregoing, their profit for the year increased by 81.36%, from ₹30.96 crores in fiscal 2024 to ₹56.14 crores in fiscal 2025.

Glottis Company Market Position

With over two decades of experience, Glottis is one of the leading freight forwarding players operating in the renewable energy sector import and export in India. Glottis’ offerings include ocean freight forwarding, air freight forwarding, and road transportation, along with other ancillary services, including warehousing, storage, cargo handling, third-party logistics (“3PL”) services and customs clearance, among others. Their freight operations include import and export through various modes, such as air, water and road. They have diversified their presence across industry verticals such as the renewable energy industry, engineering products, home appliances, granite and minerals, timber and other industries including agro, automobile chemicals, textiles, and machinery, etc.

They have a considerable client base, and growing logistics and freight needs have led to Glottis’ expansion into new markets like Europe, Africa, Central & South America, Canada, the Mediterranean, the Middle East and Australia and, presently, they are handling 110K+ ocean freight TEUs per year. At present, they operate in over 120 countries across the globe. Further, they have created a widespread presence across India by setting up 8 branch offices in New Delhi, Gujarat, Kolkata, Mumbai, Tuticorin, Coimbatore, Bengaluru and Cochin to cover major transportation hubs.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹942.546 crores, ₹56.144 crores, and ₹78.450 crores, respectively.

How to check the allotment status of Glottis IPO?

1. Visit the Registrar's Website

To check the IPO allotment status for Glottis Limited IPO, visit the official website of KFin Technologies Limited, the registrar for this IPO. On their IPO allotment status page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then, click the ‘Submit’ button to view your allotment status. Ensure you have the necessary details ready for a quick and accurate check.

2. Check on the Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.

On the BSE IPO page, follow these steps

• Select 'Equity' from the dropdown menu
• Choose 'Glottis Limited' in the next dropdown
• Enter your application number
• Enter your PAN
• Click 'Search'

Your Glottis Limited IPO allotment status will be displayed.

3. Verify on the National Stock Exchange Website

The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check Glottis Limited IPO allotment status.

Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO Bid Verification page, enter:

• Application number
  
• PAN
  

Then click 'Submit'. Your Glottis Limited IPO bid and allotment details will be displayed.

How to apply for the Glottis Limited IPO?

• Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
  
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
  
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.