Gala Precision Engineering IPO is a book built issue of Rs 167.93 crores. The issue is a combination of fresh issue of 0.26 crore shares aggregating to Rs 135.34 crores and offer for sale of 0.06 crore shares aggregating to Rs 32.59 crores.
Gala Precision Engineering IPO opens for subscription on September 2, 2024 and closes on September 4, 2024. The allotment for the Gala Precision Engineering IPO is expected to be finalized on Thursday, September 5, 2024. Gala Precision Engineering IPO will list on BSE, NSE with tentative listing date fixed as Monday, September 9, 2024.
Gala Precision Engineering IPO price band is set at ₹503 to ₹529 per share. The minimum lot size for an application is 28 Shares. The minimum amount of investment required by retail investors is ₹14,812. The minimum lot size investment for sNII is 14 lots (392 shares), amounting to ₹207,368, and for bNII, it is 68 lots (1,904 shares), amounting to ₹1,007,216.
PL Capital Markets Private Limited[PL Capital Markets Private Limited IPO Lead Manager Review] is the book running lead manager of the Gala Precision Engineering IPO, while Link Intime India Private Ltd[Link Intime India Private Ltd IPO Registrar Review] is the registrar for the issue.
Refer to Gala Precision Engineering IPO RHP[https://www.sebi.gov.in/filings/public-issues/aug-2024/gala-precision-engineering-ltd-rhp_86199.html] for detailed information.
About Gala Precision Engineering Limited
Incorporated in February 2009, Gala Precision Engineering Limited is a manufacturer of precision components such as disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS). The company supplies these products to original equipment manufacturers (OEMs).
The company’s products are used in sectors such as electrical, off-highway equipment, infrastructure, and general engineering, as well as in mobility segments such as automotive and railway.
The company has supplied its technical springs and high tensile fasteners to customers in several countries including Germany, Denmark, China, Italy, Brazil, USA, Sweden, and Switzerland, making it a crucial link in the global supply chain for OEMs.
Objects of the Issue (Gala Precision Engineering IPO Objectives)
The company proposes to utilise the Net Proceeds towards funding the following objects:
Setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts;
Funding capital expenditure requirements towards purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra;
Repayment/ prepayment, in full or part, of certain borrowings availed by the company; and
General corporate purposes.
Gala Precision Engineering IPO Review (Apply)
[Dilip Davda] The company is in the business of manufacturing precision components having specialization in technical springs. It has posted growth in its top and bottom lines for the reported periods. Higher net for FY23 is attributed to exception items. Based on FY24 earnings, the issue relatively appears fully priced. Investors may park funds for medium to long term. Read detail review…
Gala Precision Engineering IPO Subscription Status (Bidding Detail)
The Gala Precision Engineering IPO is subscribed 1.50 times on September 2, 2024 10:49:09 AM (Day 1). The public issue subscribed 2.23 times in the retail category, 0.00 times in the QIB category, and 1.71 times in the NII category. Check Day by Day Subscription Details (Live Status)