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4h ago

Glottis IPO Draws 42% Day-One Subscription as QIB Demand Leads

Proceeds target fleet and container expansion, with listing slated for October 7 subject to allotment on October 3.

Glottis IPO GMP
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Overview

  • The offer was 42% subscribed on Day 1, led by qualified institutional buyers at 1.79 times, with retail at 22% and non-institutional investors at 16%.
  • The Rs 307 crore issue is priced at Rs 120–129 per share, comprising a Rs 160 crore fresh issue and a Rs 147 crore offer for sale.
  • Bidding runs September 29 to October 1, with tentative share allotment on October 3 and a planned listing on October 7 on the BSE and NSE.
  • Grey market indications near Rs 12–15 point to a modest premium on debut, though such quotes are informal and can diverge from actual outcomes.
  • Funds are earmarked for purchasing commercial vehicles and containers, debt repayment and general corporate purposes; FY25 revenue was Rs 942.55 crore with PAT of Rs 56.14 crore.