Glottis, Amanta Healthcare receive Sebi nod to raise capital via IPO
Glottis IPO
Live Events
Amanta Healthcare IPO
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Logistics services provider Glottis Limited and pharmaceutical firm Amanta Healthcare have received approval from the Securities and Exchange Board of India (Sebi) to raise capital through initial public offerings (IPOs), according to regulatory updates.Chennai-based Glottis, an integrated logistics firm focused on the energy supply chain, has secured SEBI's approval to launch its IPO. The offer comprises a fresh issue of equity shares worth up to Rs 160 crore and an offer for sale (OFS) of up to 1.45 crore equity shares by its promoters, as per the Draft Red Herring Prospectus (DRHP).Under the OFS, promoters Ramkumar Senthilvel and Kuttappan Manikandan will offload 72.5 lakh equity shares each.The company, which filed its draft papers with Sebi in February 2025, received its observation letter on June 16, 2025. In Sebi's terminology, an 'observation' indicates regulatory clearance to proceed with the IPO.Proceeds from the fresh issue will be utilised for capital expenditure towards the purchase of commercial vehicles and containers, and general corporate purposes.Glottis is a leading multimodal logistics service provider, specialising in end-to-end supply chain solutions for the energy sector. Its services span ocean and air freight forwarding, road transportation, warehousing, cargo handling, third-party logistics (3PL), and customs clearance. In FY24, the company handled 95,000 TEUs.For the fiscal year ended March 2024, Glottis reported revenue from operations of Rs 497 crore and a net profit of Rs 30.9 crore. In the first half of FY25, it posted revenue of Rs 436 crore and net profit of Rs 31.2 crore.Pantomath Capital Advisors Private Limited is acting as the sole book-running lead manager for the issue. The equity shares are proposed to be listed on both BSE and NSE.Pharmaceutical company Amanta Healthcare has also received the regulator's nod for its IPO, which will comprise a fresh issue of up to 1.25 crore equity shares, as outlined in the DRHP.The Ahmedabad-based company, promoted by Bhavesh Patel, initially filed IPO papers in September 2024 but withdrew them in January 2025 without disclosing a reason. It refiled the draft prospectus in February 2025.Founded in 1994, Amanta manufactures sterile liquid and parenteral products used when drugs cannot be administered orally. It also produces medical devices.Amanta currently holds 113 active product registrations with international regulatory authorities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
39 minutes ago
- Business Standard
EPFO increases auto settlement limit for advance claims to ₹5 lakh
The move allows EPFO's 75 million subscribers to withdraw advances for education, illness, marriage and housing without human intervention up to ₹5 lakh Shiva Rajora New Delhi The Employees' Provident Fund Organisation (EPFO) on Tuesday increased the auto-settlement limit for advance claims to Rs 5 lakh, up from the current Rs 1 lakh, labour minister Mansukh Mandaviya told reporters. The move will now allow nearly 75 million subscribers of the retirement fund body to withdraw funds through advance claims—for purposes such as education, illness, marriage and housing—without any human intervention from EPFO. 'The limit for auto settlement of EPFO claims has been increased to Rs 5 lakh. Such claims will be cleared within three days, similar to the existing process for auto claims. This growth highlights EPFO's strong focus on automation and delivering faster, more efficient services to its members,' Mandaviya said. The auto-claim settlement process—automatic processing of claims without human involvement—was first introduced in April 2020 during the Covid-19 pandemic for illness and hospital-related advances. Subsequently, the labour ministry expanded auto-claim settlement to include education, marriage and housing. In May 2024, EPFO increased the ceiling for auto-mode settlement of advance claims for these categories to Rs 1 lakh from Rs 50,000. 'This enhanced limit and faster access to funds will help family members receive timely financial support when they need it most. This step is part of EPFO's broader push to improve service delivery through technology,' the labour ministry said in a statement. In the financial year 2024–25, EPFO processed a record 23.4 million advance claims through auto settlement—a 161 per cent increase compared to 8.95 million claims in 2023–24, the minister said. Almost 59 per cent of all advance claims in 2024–25 were settled through auto mode, up from 31 per cent in 2023–24. In the first 2.5 months of the ongoing financial year 2025–26, EPFO has already auto-settled 7.6 million claims, accounting for 70 per cent of all advance claims processed so far.
&w=3840&q=100)
Business Standard
39 minutes ago
- Business Standard
RBI to conduct seven-day VRRR auction on Friday to mop up liquidity
The average liquidity surplus in the system over the past two weeks-reflected by the daily absorption by the RBI-was around Rs 2.5 trillion New Delhi In view of the persisting liquidity surplus in the banking system, which has resulted in the weighted average call rate (WACR) trading below the policy repo rate, the Reserve Bank of India (RBI) has announced a 7-day variable rate reverse repo (VRRR) auction worth Rs 1 trillion on Friday to absorb excess liquidity. 'On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on Friday, June 27,' the central bank said in a statement. 'Further, on a review of evolving liquidity conditions, it has been
Indian Express
an hour ago
- Indian Express
Navi Mumbai airport to start with user fees from Rs 270 to Rs 1,225
Passengers departing from the upcoming Navi Mumbai International Airport (NMIA) will have to pay a user development fee of Rs 620 for domestic flights and Rs 1,225 for international flights, while those arriving will need to pay Rs 270 for domestic flights and Rs 525 for international flights. The Airport Economic Regulatory Authority (AERA) announced this temporary tariff in an ad hoc order on June 20. It will take effect from the commencement of NMIA's commercial operations and will remain in effect until March 31, 2026, or until AERA issues a normal tariff order, whichever is earlier. The current user development fee at Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai is as follows: Rs 175 for domestic departures, Rs 615 for international departures, Rs 75 for domestic arrivals, and Rs 260 for international arrivals. These are significantly lower than the provisional rates proposed for NMIA. As per AERA, the operator, Navi Mumbai International Airport Private Limited, had suggested a higher fee of Rs 840 and Rs 1,500 for domestic and international departures, respectively. It also proposed Rs 360 for arriving domestic passengers and Rs 750 for arriving international passengers. On February 7, NMIAL filed its multi-year tariff offer (MYTP) with AERA. In its offer, the airport operator stated that commercial operations are likely to commence in August 2025. The first regulatory control period, during which the operator's financials and performance will be assessed, will be from April 1, 2025, to March 31, 2030. The airport operator has provided information on the project's master plan, concession period, traffic forecast, and capital investment. The investment plan proposed comprises airport infrastructure in the form of the passenger terminal building, runways, taxiways, apron, cargo facilities and fuel storage. NMIA will start with a capacity to manage two crore passengers a year, by building phases 1 and 2 in tandem. The airport will increase capacity in accordance with traffic expansion. NMIA plans to boost capacity to five crore passengers per year by the end of the financial year 2030, following the development of Phase 3. Phases 4 and 5 will bring the total planned capacity to seven crore and nine crore passengers a year, respectively. According to the AERA order, the airport operator has proposed an investment of Rs 57,333 crore for passenger facilities in the first three phases of development. Of this, Rs 22,531 crore has been allocated for the first and second phases to develop core airport infrastructure and operational facilities. The investment will include the terminal building, airside infrastructure such as runways and taxiways, the cargo complex, and the fuel farm. The airport will handle both passenger and cargo traffic and is likely to decongest CSMIA by providing an alternate airport for the Mumbai Metropolitan Region. AERA has indicated that the provisional tariff in place will remain until a complete evaluation process is undertaken and normal tariffs are notified.
