Glottis, a logistics solutions provider, is set to finalize the allotment for its Rs 307 crore Initial Public Offering (IPO) on Friday. The company's shares are scheduled to list on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on October 7.

IPO Subscription Details

The IPO, which was priced at Rs 120-129 per share, saw an overall subscription of 2.12 times. The subscription breakdown across investor categories is as follows:

Offer Structure

The IPO comprised:

• Fresh issue: Rs 160.00 crore
• Offer for sale: Rs 147.00 crore

Grey Market Premium

The grey market premium currently stands at Rs 1.00, suggesting that investors might expect limited gains on the listing day.

Allotment Process

Investors can check their allotment status through:

1. BSE website
2. Registrar Kfin Technologies' website

Successful applicants can expect the shares to be credited to their demat accounts by October 6.

Company Performance

Glottis, which provides multimodal logistics solutions, has reported strong financial performance:

• Revenue: Rs 942.55 crore (89% growth)
• Profit After Tax: Rs 56.14 crore (81% increase)

Investor Outlook

While the IPO subscription rates indicate investor interest, particularly from non-institutional investors, the low grey market premium suggests that market participants are expecting a muted listing. Investors should note that grey market premiums are unofficial and not guaranteed.

As the logistics sector continues to evolve, especially in the wake of increasing e-commerce and supply chain complexities, companies like Glottis may play a significant role. However, potential investors should conduct their own research and consider their risk appetite before making investment decisions.

The initial public offering (IPO) of Glottis, a logistics company specializing in the renewable energy sector, entered its second day with a subscription rate of 42%. The Rs 307 crore IPO has received bids for 84.72 lakh shares against the 2.01 crore shares on offer.

Subscription Details

• Overall subscription: 42%
• Qualified Institutional Buyers (QIBs): 1.79 times oversubscribed
• Retail investors: 22% subscribed
• Non-institutional investors: 16% subscribed

IPO Specifics

• Issue size: Rs 307 crore
• Fresh issue: Rs 160 crore
• Offer-for-sale: Rs 147 crore
• Price band: Rs 120-129 per share
• Closing date: October 1

Grey Market Performance

The grey market premium for Glottis shares has declined from 9% on Day 1 to 5.4% on Day 2, indicating a slight decrease in investor enthusiasm.

Company Overview

Glottis, founded in 2009, provides multimodal logistics services with a focus on the renewable energy sector. The company has shown significant growth in recent years:

Analyst Perspectives

While Glottis has demonstrated strong growth, analysts have noted some concerns:

• Rising working capital intensity
• Increased receivables
• Exposure risks to the renewable energy sector

Canara Bank Securities recommends the IPO for long-term investors with a higher risk appetite, citing the company's position in integrated logistics.

Anchor Investment

Prior to the public offering, Glottis successfully raised Rs 92 crore from anchor investors, indicating some institutional interest in the company.

As the IPO progresses, investors will be closely watching the subscription levels across different categories and any changes in the grey market premium. The final outcome of the IPO will be determined by the overall market conditions and investor sentiment towards the logistics sector and Glottis' business model.