Energy supply chain logistics company, Glottis Limited files IPO papers with SEBI

Energy supply chain logistics company, Glottis Limited has filed Draft Red Herring Prospectus comprising of Fresh Issue of upto ₹ 2,000 million (Rs. 200 crore) and Offer for Sale of upto 14,571,000 Equity Shares of 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 the 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; road transportation; along with other ancillary services, including warehousing, storage, cargo handling, third-party logistics (3PL) services and custom 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 of capital expenditure requirements for 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 global footprint and expertise in handling complex supply chains, Glottis serves customers across multiple industries including renewable energy industry, engineering products, home appliances, building materials, and other industries including agro, automobile chemicals, textiles, machineries among others, with particular emphasis on energy infrastructure and renewable energy projects. 

The Company has PAN-India presence through 8 branch offices and over the years has spread our operations across countries, including but not limited to, Europe, North America, South America, Africa, Middle East and Asian Countries. Till date, the company has served 110 countries till date. 

The Company has clocked Revenue of ₹ 4,974.09 million (Rs. 497.4 crore) for Fiscal 2024. During the last three Fiscals, ocean freight volume generated by the Company has increased by 61.80% from 58,760 TEUs in Fiscal 2022 to 95,072 TEUs in Fiscal 2024, while its profit margins as a % of revenue from operations has grown from 3.70% in Fiscal 2022 to 6.34% in Fiscal 2024. 

The Company was the top supporter of SAFMARINE for 4 consecutive years (FY13 to FY16) and 3rd top supporter of MAERSK for 2 consecutive years (FY15 & FY16). 

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.

 

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