What happened to Glottis' shares on their market debut?

Glottis' shares listed at a 35% discount on both the NSE and BSE, trading significantly below the issue price.

How did investors respond to the Glottis IPO?

The Glottis IPO saw a modest investor response, with the issue being subscribed 2.12 times, driven largely by non-institutional investors.

Why did Glottis' IPO perform poorly on the stock exchanges?

Analysts suggest the Glottis IPO was fully priced, with a P/E multiple of around 21x on post-issue earnings, leaving little room for near-term listing gains.

Home / Business and Economy / Glottis Logistics Shares Plunge 35% on Weak Market Debut

Glottis Logistics Shares Plunge 35% on Weak Market Debut

7 Oct

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Summary

Glottis, a Chennai logistics firm, listed at a 35% discount on NSE and BSE
IPO saw modest investor response despite company's strong financials
Analysts suggest IPO was fully priced, limiting near-term gains

Glottis Logistics Shares Plunge 35% on Weak Market Debut

On October 7, 2025, Glottis, a Chennai-based multimodal logistics firm, made a weak debut on the Indian stock exchanges. The company's shares listed at a 35% discount on the National Stock Exchange (NSE), trading at Rs 84 against the issue price of Rs 129. A similar trend was observed on the Bombay Stock Exchange (BSE), where the shares opened at Rs 88.

The Rs 307-crore IPO, which ran from September 29 to October 1, 2025, saw a modest response from investors despite Glottis' strong financial performance and industry position. The issue was subscribed 2.12 times, driven largely by non-institutional investors (NIIs), who bid 3.08 times their allotted quota. Qualified institutional buyers (QIBs) subscribed 1.84 times, while the retail category managed a moderate 1.47 times subscription.

Analysts suggest that the IPO was fully priced, with a price-to-earnings (P/E) multiple of around 21x on post-issue earnings, leaving little room for near-term listing gains. They also note that the logistics sector is highly competitive and cyclical, making sustained profit growth dependent on freight demand and cost efficiencies.