Energy supply chain logistics company, Glottis Limited files IPO papers with SEBI
Bengaluru, 26th September 2024: Energy supply chain logistics company, Glottis Limited has filed a Draft Red Herring Prospectus comprising a Fresh Issue of up to ₹ 2,000 million (₹ 200 crores) and an Offer for Sale of up to 14,571,000 Equity Shares of the face value of ₹ 2 jointly offered by the promoters namely Ramkumar Senthilvel and Kuttappan Manikandan.
Glottis is a leading multi-modal, integrated logistics service provider with a specialized focus on energy supply chain solutions. It delivers end-to-end logistics solutions with multimodal capabilities across verticals to optimize the movement of goods across geographies including ocean freight forwarding; air freight forwarding; and road transportation; along with other ancillary services, including warehousing, storage, cargo handling, third-party logistics (3PL) services and customs clearance, among others. The Company handled 95,000 TEUs during the Fiscal 2024.
Glottis proposes to utilize the Net Proceeds from the Fresh Issue towards funding capital expenditure requirements for the purchase of commercial vehicles worth Rs. 530 million; repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company to the tune of Rs. 380 million; funding inorganic growth through unidentified acquisitions and General Corporate Purposes.
With a global footprint and expertise in handling complex supply chains, Glottis serves customers across multiple industries including the renewable energy industry, engineering products, home appliances, building materials, and other industries including agro, automobile chemicals, textiles, and machinery among others, with particular emphasis on energy infrastructure and renewable energy projects.
The Company has clocked revenue of ₹ 4,974.09 million (₹ 497.4 crore) for Fiscal 2024.
Pantomath Capital Advisors Private Limited is the sole book-running lead manager. The Company’s equity shares are proposed to be listed on the BSE and NSE.
