Glottis do hereby submits the Monitoring agency report for the quarter ended March 31, 2026.
GLOTTIS · price
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Glottis Ltd's monitoring agency report (issued by Crisil Ratings Limited) covers the Q4 FY26 utilization of IPO proceeds raised in October 2025 (total gross proceeds: Rs 1,599.99 million / ~Rs 160 crore). Of the net proceeds of Rs 1,453.32 million, Rs 712.56 million (47.1%) has been deployed as of March 31, 2026. Capital expenditure for commercial vehicles and containers is the primary use, with Rs 438.50 million utilized out of Rs 1,325.42 million allocated. General corporate purposes and issue expenses are nearly fully drawn. The remaining Rs 887.43 million is parked in fixed deposits with Kotak Bank. The monitoring agency confirms no material deviation from the disclosed objects of the issue.
The capital expenditure deployment is significantly behind schedule — only 33% of the vehicle/container budget has been spent as of fiscal year-end, with the company citing ongoing vendor discussions on revised quotations. No deviation from prospectus objects has been flagged, but investors should monitor progress in FY27 as the fleet expansion timeline is delayed.