Glottis investors stare at steep loss as stock crashes 37% from issue price
Shares of Glottis Ltd, a Chennai-based multimodal logistics company, witnessed a steep fall in their market debut, tumbling as much as 37% from their IPO price to hit an intraday low of Rs 81.10 on the BSE, marking a significant erosion in investor wealth. The company offered shares at Rs 129 apiece in the IPO.
The stock also opened at a discount of 35% on the NSE, listing at Rs 84, and debuted at Rs 88 on the BSE before further sliding.
The weak listing comes despite the company’s established presence in the logistics and freight management sector. Glottis, founded in 2004, has built a robust network across India with capabilities in transportation and supply chain management via air, land, and sea
It has positioned itself as a trusted…
