Glottis IPO | The proprietors will be selling 1.1 crore shares via an offer-for-sale, while the Tamil Nadu-based firm hopes to raise Rs 160 crore through new shares.
Glottis, a logistics solutions firm, received Rs 55.26 crore on September 26 from seven institutional investors via an anchor book. Public subscriptions for the Rs 307 crore IPO, which includes this fund-raising, will commence on September 29 and finish on October 1.
The offer’s price range is Rs 120–129 per share.
The business that provides multi-modal logistics solutions via air, sea, and land logistics has given 42,83,755 equity shares to anchor investors at the highest price range.
The biggest investor, Meru Investment Fund, paid Rs 15 crore for 11.6 lakh shares, followed by LC Pharos Multi Strategy Fund and VPK Global Ventures Fund, who paid Rs 10 crore each for 7.75 lakh shares.
Other investors in the anchor book were Abans Finance, M7 Global Fund, The Asio Fund, and Sunrise Investment Opportunities Fund.
The proprietors will sell 1.1 crore shares via an offer-for-sale, while Glottis, a company located in Tamil Nadu, hopes to raise Rs 160 crore through new shares.
The business would use Rs 132.5 crore of the proceeds from the new issuance to buy containers and commercial vehicles, with the remaining money going towards general business needs.
For the Glottis IPO, Pantomath Capital Advisors is serving as the only merchant banker.
Next week, on September 29, Glottis will be one of three businesses to conduct an initial public offering (IPO). Fabtech Technologies and Om Freight Forwarders are two more.