Glottis Ltd has received a tax demand order totaling ₹1.27 billion, including interest and penalties, from Indian tax authorities. The notice comes weeks after its IPO debut and is linked to alleged discrepancies in past filings. The company is reviewing the order and may pursue legal remedies.
In a regulatory jolt, Glottis Ltd, a recently listed logistics and supply chain company, has been served a tax demand order of ₹1.27 billion by Indian tax authorities. The amount includes principal tax dues, interest, and penalties, and is reportedly linked to historical compliance discrepancies uncovered during post-IPO scrutiny.
The company, which debuted on the bourses on October 7, 2025, following a ₹307 crore IPO, confirmed receipt of the order and stated that it is currently evaluating legal and procedural options. Glottis emphasized that the demand does not impact its current operations or client contracts and assured stakeholders of full cooperation with authorities.
Key Highlights:
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Tax Demand Amount: ₹1.27 billion, inclusive of interest and penalty
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Trigger: Post-IPO compliance review by tax authorities
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Company Response: Reviewing order; may challenge through legal channels
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Operational Impact: No disruption to ongoing business or client deliveries
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Investor Note: Glottis maintains that its financial disclosures remain transparent and compliant
This development adds regulatory pressure on Glottis Ltd just weeks after its market debut, and investors are advised to monitor further disclosures.
Sources: Chittorgarh IPO Tracker, JM Financial Services, SBI Securities