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.

 

Comments

Post a Comment

Popular posts from this blog

First DPL match was won by US Consulate Staff Team

Image
  ICWO - Indian Community Welfare Organisation  organized the First DPL- Diplomat Cricket Tournament for Embassy, Consulate & High Commission Staff on 10 th   August 2024 at Soka Ikeda College of Arts and Science for Women, Sethu Bhaskara Nagar, Madhanangkuppam, Kolathur, Chennai. T he event aims to create high level Awareness to STOP Child Abuse, Child Trafficking, Child Marriage & Child Labour in Tamilnadu and mobilize funds for intervention to address the same. A.J.Hariharan, Secretary – ICWO thanked both the US Consulate and Malaysian Consulate for their support and participation in the diplomate cricket tournament as to create an awareness about the Child Marriage, Child Trafficking & Child Labour and Child Abuse in Tamilnadu. The tournament has created huge interest among the players and the consul officials. We, ICWO have plan to organize similar event on 3 rd  May 2025. This time for men and women doubles badminton tournament. We emphasis there is a greater need for
Read more

A 25 Year Voyage Through Rhythm: A Priceless Guru Nanak School Reunion

Image
Reconnecting with long-lost classmates, Teachers and School staff after a quarter-century has stirred deep feelings of nostalgia and priceless emotions. Anticipation filled the air as we eagerly awaited the long-awaited gathering on 25 th of November2023 at Hotel WESTIN, wondering how many would join us for this special occasion. A month before the anticipated reunion, few schoolmates addressed as the Core Team took the initiative to meticulously plan and organize the event, leaving an indelible mark on each of our hearts. The immediate reaction was one of overwhelming excitement, with tears in our eyes and smiles lighting up our faces. As an added delight, we collectively revisited our beloved Alma Mater, reviving cherished moments etched deep within our souls.Our school held tremendous significance, even those who ventured down different paths, departing in 7th, 8th, 9 th or 10th grade, still share an unbreakable bond with our iconic establishment, GURU NANAK MATRICLUATION SCHO
Read more

Pondicherry Art Akademy Celebrates 13 Years of Artistic Excellence with 7th National Women Artists Group Show

Image
Pondicherry Art Akademy, renowned for its commitment to promoting artistry over the past 13 years, proudly presents its 51st event: the 7th National Women Artists Group Show. The inauguration took place on April 5th at 4 PM at Cholamandal Artists' Village in Chennai, marking yet another milestone in the Academy's illustrious journey.  The ceremony commenced with renowned Contemporary Artist.Sovan Kumar, Regional Secretary of Lalit Kala Akademi, Chennai, symbolically cutting the ribbon to officially inaugurate the event. Shri Kaliaperumal, Director of the Art and Culture Department, Puducherry, further elevated the occasion by illuminating the kuthu vilakku and unveiling the catalog, with the prestigious first copy presented to the renowned Senior Artist C. Douglas of Cholamandal Artists Village.   Esteemed artist Aashima Mahrotra, Joint Secretary of the Ministry of Railways and a participant in the show, graced the event as the chief guest, alongside distinguished guests Seni
Read more