Logistics services company Glottis share lists ₹45 below issue price:Investors suffer 35% loss on first day; Glottis’ profits rose by 81% in FY25

Shares of logistics services company Glottis Ltd on Tuesday saw a disappointing start to their stock market journey. The shares were listed at ₹84, a 34.88% discount, or ₹45 on the National Stock Exchange (NSE) compared with their IPO price of ₹129. On the Bombay Stock Exchange (BSE), it was listed at ₹88 per share, down 31.78% or ₹41. Glottis IPO’s grey market premium (GMP) was zero. The IPO opened on September 29, with a price band of ₹120-129 per share. Glottis planned to raise ₹307 crore The IPO was subscribed only 2.12 times higher, with retail subscription at just 1.47 times. The company planned to raise ₹307 crore via new share offer worth ₹160 crore and offer for sale (OFS) worth ₹147 crore. Glottis began operating in June 2024 Glottis began operation as a logistical services company in June 2024. It delivers goods via waterways, roadways and airways. The company also provides other services, such as warehouse storage, cargo handling, third-party logistics and customs clearance. In the financial year 2025, it handled imports totaling 112,146 containers by sea. Glottis has a worldwide network and specialises in handling complex supply chains. It serves customers across industries, including energy, infrastructure and renewables. Profits soared 81% in FY25 In FY 2024-25, Glottis’s revenue increased by 89% and profit by 81%. In FY24, the company generated revenue of ₹499.39 crore, which increased to ₹942.55 crore in FY25.