Glottis IPO Lists at ₹84, Down 34.9% from the Issue Price of ₹129

Chennai, October 7, 2025: Glottis Limited IPO (INE0TQE01026) made a weak debut on the NSE, opening at ₹84 per share, 34.9% below its issue price of ₹129. During morning trading, the stock touched an intraday high of ₹93 and a low of ₹81.17, before settling at around ₹87.10 at 1:26 PM IST, reflecting a 32.5% decline from the issue price. The listing highlights significant volatility and a subdued initial market response.

Glottis Limited, a multimodal logistics company incorporated in 2004 and headquartered in Chennai, provides comprehensive freight forwarding services by ocean, air, and land. The company recently raised ₹307 crore through its initial public offering (IPO), comprising a fresh issue of shares and an offer for sale. In FY25, Glottis reported revenue of ₹941.17 crore and a net profit of ₹56.14 crore, driven largely by its ocean freight forwarding operations, which contribute over 94% of total revenue, underscoring the company’s strong market position in this segment.

Glottis IPO Listing Performance

Glottis Limited made its stock market debut with an IPO priced at ₹129 per equity share, but the stock opened significantly lower at ₹84, reflecting an opening loss of 34.9% for investors. During trading, the share reached an intraday high of ₹93.00 and a low of ₹81.17, with upper and lower circuit limits set at ₹100.80 and ₹67.20, respectively. Following the listing, the company’s market capitalisation stands at ₹809 crore, highlighting initial volatility in investor response.

Glottis IPO Subscription Recap

Glottis Limited’s ₹307 crore initial issue of IPO witnessed a good interest among investors, and it concluded with a total of 2.05 times subscription.

Breaking it down by category:

• Qualified Institutional Buyers (QIBs): The IPO offered 28,13,652 shares to QIBs, which received bids for 52,62,240 shares, resulting in a subscription of 1.87 times.
• Non-Institutional Investors (NIIs): From a total of 74,18,690 shares issued, NIIs bid for 2,20,03,368 shares, resulting in a total subscription of 2.97 times. Of these, bids of more than ₹10 lakh were subscribed 3.63 times, whereas bids between ₹2 and ₹10 lakh were subscribed 1.64 times.
• Retail Individual Investors (RIIs): RIIs were allocated a total of 98,91,587 shares for which bids were accepted for 1,40,28,270 shares, reflecting a subscription of 1.42.

The issue as a whole had bids of 4,12,93,878 shares against an issue size of 2,01,23,929 shares, showcasing healthy interest amongst investors for Glottis Limited.

Company Overview

Glottis Limited is a multimodal logistics company incorporated in 2004, headquartered in Chennai, and it provides freight forwarding by ocean, air, and land. Glottis issued its IPO, raising a total of ₹307 crore, including a fresh issue of shares and an offer for sale. Glottis, for the fiscal year FY25, clocked revenue of ₹941.17 crore and net profit of ₹56.14 crore, maintaining significant dominance in ocean freight forwarding, which contributes more than 94% of the total revenue.

REF: https://www.nseindia.com/get-quotes/equity?symbol=GLOTTIS

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