Glottis IPO in focus: Logistics service provider Glottis will launch its initial public offering (IPO) on Monday, September 29, with the bidding window remaining open for investors until Wednesday, October 1.
The company plans to utilise the proceeds from the issue to meet its capital expenditure requirements, including the purchase of commercial vehicles and containers, as well as for general corporate purposes.
As bidding for the issue opens next week, in this article we take a closer look at some of the key details, such as listing and allotment dates, price band, lot size, and the latest grey market premium (GMP).
Glottis IPO issue details
1. Glottis IPO Date: The issue will open for subscription on Monday, September 29, and will conclude on Wednesday, October 01.
2. Glottis IPO Price: The price band of the public issue has been fixed at ₹120 to ₹129 per equity share.
3. Glottis IPO Size: The company aims to raise ₹307 crore through the IPO, which is a combination of a fresh issue of 1.24 crore shares aggregating to ₹160 crore and an offer for sale of 1.14 crore shares aggregating to ₹147 crore.
4. Glottis IPO Lot Size: The IPO lot size is fixed at 114 shares, requiring a minimum investment of ₹14,706 for retail investors.
5. Glottis IPO reservation: IPO has reserved not more than 30% of the shares in the public issue for qualified institutional buyers (QIB), not less than 30% for non-institutional institutional investors (NII), and not less than 40% of the offer is reserved for retail investors.
6. Glottis IPO allotment date: Tentatively, the Glottis IPO basis of allotment of shares will be finalised on Friday, October 3, and the company will initiate refunds on Monday, October 6, while the shares will be credited to the demat account of allottees on the same day following refund.
7. Glottis IPO listing: The mainboard IPO is proposed to list on both NSE and BSE on Tuesday, October 7.
8. Glottis IPO GMP: According to market sources, the GMP of Glottis IPO on Friday was ₹15, suggesting that the stock may list at ₹144 above the issue upper band price of 129.
9. Glottis IPO book-running lead manager and registrar: Pantomath Capital Advisors is serving as the merchant banker for the Glottis IPO, and Kfin Technologies Ltd. functions as the issue’s registrar.
10. Glottis business overview: The company specializes in logistics solutions, providing an array of transportation services through ocean, air, and road logistics.
The firm delivers complete logistics solutions with multimodal capabilities across various industries, enhancing the efficiency of goods movement across different regions. In the fiscal year 2024, Glottis Limited managed around 95,000 TEUs of imports through ocean freight.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
