Glottis Limited IPO

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Glottis is a prominent player in the logistics and freight forwarding industry, offering multi-modal integrated logistics solutions across ocean, air, and road transport services. The company specializes in end-to-end logistics services, handling goods through ocean freight, air freight, and road transportation, and also provides warehousing, storage, cargo handling, third-party logistics (3PL) services, and customs clearance. As of Fiscal 2025, Glottis managed 112,146 TEUs of imports through ocean freight, demonstrating its significant presence in the logistics sector.

Expertise in Freight Management

Glottis excels in freight management services, offering ocean, air, and road freight services, with a special focus on ocean freight due to high demand, attractive margins, and efficient logistics. The company ensures timely deliveries, maintains capacity through pre-booked shipping slots, and offers flexibility to handle urgent requests, ensuring reliable services for global logistics.

Focus on Renewable Energy Industry

Glottis has carved out a niche in the renewable energy sector, offering specialized freight forwarding services for industries like solar, wind, and hydro energy. Company collaborates with power producers and manufacturers of energy components such as solar cells and solar wafers, positioning itself as a leading logistics provider in the renewable energy supply chain.

Global Network and Expansion

With a global footprint, Glottis operates 8 branch offices across India, including in major logistics hubs like Delhi, Mumbai, Coimbatore, and Bengaluru. The company has expanded its operations internationally through partnerships with freight forwarding agents in Europe, North America, South America, Africa, the Middle East, and Asia. It also operates through group companies in Singapore, the UAE, and Vietnam, allowing seamless international operations.

Competitive Strengths

1) Leadership in Renewable Energy Logistics: Glottis specializes in freight forwarding for the renewable energy sector, ensuring efficient logistics for power producers and energy component manufacturers.
2) Wide Network of Intermediaries: Glottis has a vast network of intermediaries like agents, shipping lines, and transporters, enabling smooth and global logistics operations.
3) Multimodal Logistics Capabilities: By integrating ocean, air, and road transport services, Glottis offers flexible and comprehensive logistics solutions across multiple channels.
4) Strong Customer Relationships: Glottis has built long-term relationships with a diverse customer base, ensuring trust, loyalty, and consistent business growth.

Objects of the Glottis Limited IPO:

Company proposes to utilize the Net Proceeds towards the following objects: 1. Funding of capital expenditure requirements towards purchase of commercial vehicles and containers (₹132.5 cr) 2. General Corporate Purposes.

Glottis Limited IPO Details:

Open Date: Sep 29 2025
Close Date: Oct 01 2025
Total Shares: 2,37,98,740
Face Value: ₹ 2 Per Equity Share
Issue Type: Book Building
Issue Size: 307 Cr.
Lot Size: 114 Shares
Issue Price: ₹ 120-129 Per Equity Share
Listing At: NSE,BSE
Listing Date: Oct 07 2025

Promoters And Management:

1. Ramkumar Senthilvel (47 years) is a Promoter and Managing Director with over 18 years of experience in the logistics industry. He oversees the import operations across air, sea, and surface verticals and has played a crucial role in the company's global expansion, partnering with international shipping lines and freight agencies. 2. Kuttappan Manikandan (47 years) is a Promoter and Managing Director with 18+ years of logistics experience. He leads the export operations across air, sea, and road, and has been instrumental in providing strategic direction and optimizing domestic operations to enhance overall efficiency and growth. 3. Thirumazhisai Puttam Shridar (61 years) is a Non-Executive Director with over a decade of experience in legal, secretarial, and compliance consultancy. He is the proprietor of M/s. T.P. Shridar, offering expert consultancy services, and has been with the company since February 9, 2024, advising on compliance matters.

Financials of Glottis Limited IPO:

Particulars ( IN CR) FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations 941.17 497.1 478.2
EBITDA 78.4 40.3 33.4
EBITDA Margins 8.34% 8.12% 7.00%
PAT 56.1 30.9 22.5
PAT Margins 5.97% 6.23% 4.69%
ROCE 72.58% 95.91% 256.67%
Debt to Equity Ratio(In Times) 0.22 0.19 2.66
Operating Cash Flows 1.09 6.8 25.2

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Glottis Limited 941.17 8.34% 5.97% 72.58% 0.22 1192 21.25
Allcargo Logistics Limited 16022 3.00% -0.02% 3.85% 0.84 3,169 -
Transport Corporation of India Limited 4492 10.00% 9.26% 20.50% 0.11 9266 21.6

Lead Manager of Glottis Limited IPO:

  1. Pantomath Capital Advisors Private Limited

Registrar of Glottis Limited IPO:

  1. Kfin Technology Private Limited

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