Glottis Limited has received board approval to extend the timeline for utilizing its remaining IPO proceeds by one year, following a board meeting held on February 13, 2026. The company filed this intimation under Regulation 30 of the SEBI Listing Regulations with both NSE and BSE on February 14, 2026.

IPO Proceeds Utilization Status

The logistics company had originally proposed to utilize the funds raised through its initial public offering for various identified objects as disclosed in the offer documents. The current utilization status shows significant funds remaining for deployment.

Extended Timeline Details

The Board of Directors has approved extending the utilization timeline for the remaining funds by one year. This extension provides the company additional time to deploy the substantial unutilized amount according to the original plan.

Regulatory Compliance and Fund Management

Glottis Limited has emphasized that there are no changes to the objects of the issue as originally stated in the offer document. The extension pertains solely to the timeline for deployment of the remaining funds. The company maintains strict compliance with regulatory requirements for managing the unutilized proceeds.

The unutilized IPO proceeds are currently maintained in compliance with:

• Companies Act, 2013
• SEBI (ICDR) Regulations, 2018
• Other applicable laws and regulations

The funds are parked in interest-bearing instruments as permitted under regulations, pending their deployment for the intended purposes. This approach ensures the company maximizes returns on the unutilized funds while maintaining regulatory compliance.

Corporate Disclosure

The intimation was signed by Nibedita Panda on behalf of Glottis Limited and filed with both the National Stock Exchange of India Limited and BSE Limited. The company has made this information available on its official website at https://www.glottislogistics.in/ for stakeholder access and transparency.

Glottis Limited has announced its unaudited standalone financial results for the quarter ended December 31, 2025, revealing a significant decline in operational performance. The board meeting held on February 13, 2026, approved the quarterly results along with several strategic decisions including senior management appointments and subsidiary incorporation plans.

Q3FY26 Financial Performance

The company's financial performance for Q3FY26 reflected challenging market conditions with notable declines across key metrics:

Nine-Month Period Performance

For the nine-month period ended December 31, 2025, the company demonstrated resilience despite quarterly challenges:

Market Challenges and Business Impact

The decline in revenue and profit margins was primarily attributed to uncertain global market conditions and lower average freight rates driven by softer demand in certain sectors. Solar-related transactions experienced significant decline due to reduced project execution across the industry. The company noted that these challenging conditions particularly impacted the third quarter performance.

Strategic Corporate Developments

The board meeting resulted in several key strategic decisions:

IPO Proceeds Utilization

Out of the total IPO proceeds of ₹15,999.87 lakhs raised in October 2025, ₹3,543.62 lakhs has been utilized by December 31, 2025. The remaining ₹12,456.25 lakhs is held in temporary fixed deposits pending utilization for stated objectives including capital expenditure and general corporate purposes.

Regulatory Compliance and Outlook

The company successfully resolved a GST scrutiny notice regarding excess Input Tax Credit claims of ₹123.22 lakhs, with proceedings dropped after providing adequate documentation. All debt servicing obligations were met during the quarter, maintaining the company's financial discipline despite operational challenges.