Glottis Limited, founded by Ramkumar Senthilvel and Kuttappan Manikandan in 2004, provides multimodal logistics and freight forwarding services. Based in Chennai, the company mainly handles ocean freight and serves sectors like renewable energy, engineering, and consumer goods.
IPO schedule
Issue open date
2025-09-29
Issue close date
2025-10-01
UPI mandate deadline
2025-10-01 (5 PM)
Allotment finalization
2025-10-03
Refund initiation
2025-10-06
Share credit
2025-10-06
Listing date
2025-10-07
Mandate end date
2025-10-15
Lock-in end date for anchor investors (50%)
2025-10-30
Lock-in end date for anchor investors (remaining)
2025-12-29
Financials
Financial Year Ended
March 2023
March 2024
March 2025
Total Assets
72.08
81.72
156.10
Revenue
478.77
499.39
942.55
Profit After Tax
22.44
30.96
56.14
Issue size
Funds Raised in the IPO
Amount
Overall
₹307 crores
Fresh Issue
₹160 crores
Offer for sale
₹147 crores
Utilisation of proceeds
Purpose
INR crores (%)
Capital expenditure
132.54 (82.8%)
General corporate purposes
27.46 (17.16% )
Strengths
Leading freight forwarder with expertise in Renewable Energy sector.
Strong intermediary network with efficient asset portfolio utilisation.
Scaled multimodal logistics for diverse and complex project handling.
Established global presence and long-term customer relationships.
Consistent financial growth driven by an experienced management team.
Risks
Heavy dependence on renewable energy sector affects revenue stability.
Ocean freight concentration increases vulnerability to market fluctuations.
Reliance on third-party intermediaries risks operational disruptions.
Limited warehousing presence concentrated only in Tamil Nadu.
Significant revenue reliance on few large repeat customers.