Glottis Preps for IPO Launch After Securing Rs 55 Crore from Anchor Investors
Logistics service provider Glottis has secured over Rs 55 crore from anchor investors ahead of its initial public offering. The IPO, valued at approximately Rs 1,200 crore, includes a fresh issue of equity shares as well as an offer for sale. Glottis is set to debut on October 7.
- Country:
- India
Chennai-based logistics service provider Glottis announced on Friday that it has raised over Rs 55 crore from anchor investors ahead of its upcoming initial public offering (IPO).
The funds were mobilised with the help of investors such as LC Pharos Multi Strategy Fund VCC and Meru Investment Fund PCC-CELL 1, as noted in a BSE circular.
The IPO, due to open on September 29, aims to raise Rs 307 crore and will fund commercial vehicle purchases and debt repayments.
(With inputs from agencies.)
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