Glottis Limited: Initial public offering to open on Monday, September 29, 2025

POSTED BY: ANGHA SAKPAL SEPTEMBER 25 , 2025

Price Band fixed at ₹ 120 per equity share of face value ₹2 each to ₹ 129 per equity share of the face value of ₹2 each (“Equity Shares”) of Glottis Limited (the “Company”)

• Anchor Investor Bidding Date – Friday, September 26, 2025
• Bid /Offer Opening Date – Monday, September 29, 2025, and Bid/ Offer Closing Date –Wednesday, October 1, 2025
• Bids can be made for a minimum of 114 Equity Shares and in multiples of 114 Equity Shares thereafter
• Red Herring Prospectus dated September 22, 2025 (“RHP”) link: https://pantomath-web.s3.ap-south-1.amazonaws.com/1758629490248-GlottisLimited-RHP.pdf

MUMBAI (RMN) : Glottis Limited (the “Company”) proposes to open an initial public offering (“Offer”) of its Equity Shares of face value of ₹2 each (“Equity Shares”) on Monday, September 29, 2025. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, being Friday, September 26, 2025. The Bid/ Offer Closing Date is Wednesday, October 1, 2025

The Price Band of the Offer has been fixed from ₹ 120 per Equity Share of face value ₹2 each to ₹ 129 per Equity Share of face value ₹2 each. Bids can be made for a minimum of 114 Equity Shares of face value ₹2 each and multiples of 114 Equity Shares of face value ₹2 each thereafter.

The Initial Public Offering comprises of a Fresh Issue of Equity Shares aggregating up to Rs. 160 crore and an Offer for Sale of up to 1,13,95,640 Equity Shares by the Selling Shareholders. It includes up to 56,97,820 Equity Shares each by Ramkumar Senthilvel and Kuttappan Manikandan (collectively the “Promoter Selling Shareholders).

The Offer is being made through the Book Building Process in terms of Regulation 6(1) of the SEBI ICDR Regulations, wherein in terms of Regulation 32(2) of the SEBI ICDR Regulations not more than 30% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, the “QIB Portion”), provided that our Company, in consultation with the BRLM, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which at least one-third shall be reserved for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations.

In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.

Further, not less than 30% of the Offer shall be available for allocation to Non-Institutional Bidders (“NIBs”) of which (a) one-third of portion shall be reserved for applicants with application size of more than ₹ 0.20 million and up to ₹ 1.00 million; and (b) two-third of such portion shall be reserved for applicants with application size of more than ₹ 1.00 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

Further, not less than 40% of the Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank accounts (including UPI ID for UPI Bidders using UPI Mechanism) (defined hereinafter) in which the Bid amount will be blocked by the SCSB or Sponsor Bank(s) as applicable to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Offer through the ASBA process.

The Equity Shares of the Company are proposed to be listed on BSE Limited (“BSE“) and the National Stock Exchange of India Limited (“NSE”) (BSE and NSE together, the “Stock Exchanges”).

Pantomath Capital Advisors Private Limited is the Book Running Lead Manager (“BRLM”) to the Offer.

Disclaimer:

GLOTTIS LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and filed the RHP dated September 22, 2025 with the RoC. The RHP shall be available on the website of SEBI at www.sebi.gov.in, and is available on the websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, on the website of the Company at www.glottislogistics.in and the website of the BRLM, i.e., Pantomath Capital Advisors Private Limited at www.pantomathgroup.com. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see ‘‘Risk Factors’’ beginning on page 36 of the RHP. Potential investors should not rely on the RHP filed with SEBI and the Stock Exchanges, and should instead rely on their own examination of our Company and the Offer, including the risks involved, for making any investment decision.

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws in the United States. Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction. Accordingly, the Equity Shares are being offered and sold only outside the United States in “offshore transactions”, as defined in, and in compliance with, Regulation S and the applicable laws of the jurisdiction where those offers and sales are made.