On Wednesday, the initial public offering (IPO) of logistics service provider Glottis Ltd concluded with an impressive 2.05 times subscription. The Rs 307-crore share sale received bids for 4,12,93,878 shares, surpassing the 2,01,23,929 shares on offer, according to the National Stock Exchange (NSE).

The segment allocated for non-institutional investors was oversubscribed by 2.97 times, while subscriptions by Qualified Institutional Buyers (QIBs) reached 1.87 times. Retail Individual Investors (RIIs) showed a subscription rate of 1.42 times. Glottis had already secured more than Rs 55 crore from anchor investors.

The Chennai-based company's IPO is priced between Rs 120-129 per share, valuing the company at nearly Rs 1,200 crore at the higher end. The funds raised will be allocated for pu

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