Home / Business and Economy / Glottis Logistics Shares Plunge 35% on Weak Market Debut
Glottis Logistics Shares Plunge 35% on Weak Market Debut
7 Oct
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
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.
Over the longer term, investors will closely watch how Glottis utilizes the IPO proceeds to expand its asset base and strengthen its foothold in India's fast-evolving logistics ecosystem.
