Glottis ltd files IPO papers with SEBI

Glottis, which has its headquarters in Tamil Nadu, offers logistics services to a range of industries with an emphasis on renewable energy and energy infrastructure projects. Glottis has eight branch offices throughout India. Remarkably, the renewable energy industry accounts for more than 42% of the company’s overall revenue, with the remaining revenue coming from a variety of other industries. Glottis stands out from other logistics companies with its focus on renewable energy projects because it shows a dedication to sustainability and environmental responsibility. Glottis can offer customized solutions that address the particular requirements of renewable energy businesses by specializing in this field. One example of such a solution is the transportation of substantial solar or wind farm equipment and materials. Glottis’ leadership position in the expanding renewable energy market is a result of their specialization, which also enables them to keep ahead of industry trends and advancements. Additionally, Glottis can lower risk and ensure long-term stability for their business by diversifying their sources of income across multiple industries.

Glottis is requesting an IPO funding of Rs. 200 crore:

Glottis, a logistics services provider that specializes in energy supply chain solutions, intends to go public in order to raise money. The business has already submitted preliminary documents to SEBI, the capital markets regulator.

According to the draft red herring prospectus that was filed on September 23, the IPO consists of a fresh issue of equity shares valued at Rs 200 crore as well as an offer by the promoters to sell 1.45 crore equity shares. There will be an offer-for-sale of 72.85 lakh equity shares each by promoters Ramkumar Senthilvel and Kuttappan Manikandan. Their respective shares of the company are 49% and 49%.

Breakdown of the fund utilization by Glottis:

Purchase of vehicles for the transportation of goods: 53 crore.To pay off current debt, 38 crore. The remaining funds will be used for general corporate operations and organic growth through unnamed acquisitions. Pantomath Capital Advisors has been named the lead manager for the book running.

Financial Performance of Glottis:

Glottis reported a net profit of Rs. 31.5 crore for the fiscal year 2024, up from 22.57 crore the year before, demonstrating a positive trend in its financial growth. The company’s operating revenue for the fiscal year that ended in March 2024 was Rs. 497.4 crore, indicating a slight increase from the previous year’s revenue of 3478.5 crore.

Conclusion: Transport Corporation of India and Allcargo Logistics are two well-known competitors for Glottis. Its objectives with the IPO are to improve its standing in the market and grow its business. An important milestone in Glottis’s growth trajectory has been reached with its IPO filing. The company hopes to improve its operational capabilities and capitalize on the expanding energy logistics market.

Want to stay ahead in the market? Get a sneak peek at our Upcoming IPO and invest early. Take the next step in your financial journey!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.