IPO Launch Details
Glottis, a company rooted in Tamil Nadu, is heading towards the market to raise a substantial Rs 160 crore through fresh shares. Moreover, the promoters
are set to offload 1.1 crore shares through an offer-for-sale, as revealed in the IPO news. The IPO's opening date is set for September 29th, marking a significant event for the company and investors alike. This financial strategy showcases Glottis's ambition to expand its operations and increase its market presence. The move is expected to draw attention from both individual and institutional investors.
Financial Strategy
The company's approach involves raising funds through the issue of fresh shares, which is a common method for companies looking to generate capital for growth and development. The offer-for-sale component, which allows existing promoters to sell their shares, will also be a crucial aspect. With this offer, Glottis aims to raise a considerable amount of capital, showcasing confidence in its future. It's important to note the involvement of anchor investors. These investors, who picked up Rs 55.3 crore worth of shares, often play a pivotal role by providing early financial backing and signaling market confidence in the IPO.
