Gala Precision Engineering IPO Date, Review, Price, Allotment Details

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Gala Precision Engineering IPO, Latest target, Opening gain 

Gala Precision Engineering IPO began on 02 September 2024. It will close on 04 September 2024. The Total IPO Size is ₹167.93 Crore Approx. The company set its IPO price is ₹503 to ₹529 per share Per Share. There are three basic categories in Gala Precision Engineering IPO Subscription:- 1) Qualified Institutional Buyers.  2) Non-Institutional Investors.  3) Retail.

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 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. 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 two manufacturing facilities in Wada District, Palghar, Maharashtra, with capabilities to design, develop, and manufacture a diverse product portfolio. Additionally, a new manufacturing facility is being set up in Vallam-Vadagal, SIPCOT, Sriperumbudur, Tamil Nadu, focusing on developing high-tensile fasteners to expand the product portfolio with new products like bolts.

The company’s business primarily comprises of two divisions:

(i) the Springs Technology Division manufactures DSS, including Wedge Lock Washers (WLW) and CSS,

(ii) SFS, producing anchor bolts, studs, and nuts.

As of March 30, 2024, the company has more than 175 customers in 25 plus countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden and Switzerland.

As of June 30, 2024, the company has 294 permanent employees and 390 contract employees. The permanent workforce includes 182 manufacturing workers, 19 employees for stores and logistics, 19 employees for quality assurance, 14 employees for tool room development and maintenance, and 22 employees for human resources and administration.

Gala Precision Engineering IPO Details:

Issuer Gala Precision Engineering IPO
Issue Type Book Built Issue IPO
Issue Period Issue Opens: 02 September, 2024
Issue Closes: 04 September, 2024
Price Brand 503 to ₹529 per share
Issue Size ₹167.93 Cr
Face Value ₹10 per share
Market Lot 28 Shares
Retail (Max) 1,92,556
QIB 50%
HNI 15%
Retail Individual Bidders 35%
Listing at NSE & BSE
✔️ Apply With ANGEL Free DEMAT Account
Total Shares 3,174,416 shares

Gala Precision Engineering IPO GMP Rates day by day

Gala Precision Engineering IPO Market Lot:

Application Lots Shares Amount
Retail (Min) 1 28 14,812
Retail (Max) 13 364 1,92,556
S-HNI (Min) 14 392 2,07,368
S-HNI (Max) 67 1,876 992,404
B-HNI (Min) 68 1,904 1,007,216

Gala Precision Engineering IPO Date, Allotment & Listing:

Gala Precision Engineering IPO Opening Date: September 02, 2024
Gala Precision Engineering IPO Closing Date: September 04, 2024
Basis of Allotment: September 05, 2024
Initiation of Refunds: September 06, 2024
Credit to Demat Account: September 06, 2024
Listing Date: September 09, 2024

Gala Precision Engineering Limited Financial Information (Restated)

Gala Precision Engineering Limited’s revenue increased by 22% and profit after tax (PAT) dropped by -8% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended 31 Mar 2024 31 Mar 2023 31 Mar 2022
Assets 188.69 170.39 145.62
Revenue 204.38 167.08 147.96
Profit After Tax 22.33 24.21 6.63
Net Worth 104.45 83.66 59.32
Reserves and Surplus 94.67 81.13 56.79
Total Borrowing 55.03 58.6 56.89
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Gala Precision Engineering IPO is Rs 670.24 Cr.

KPI as of March 31, 2024.

KPI Values
ROE 23.59%
ROCE 19.91%
Debt/Equity 0.53
RoNW 21.38%
P/BV 5.12
PAT Margin (%) 11.89
 
  Pre IPO Post IPO
EPS (Rs)  22.09 17.63
P/E (x)  23.95 30.01

Objects of the Issue (Gala Precision Engineering IPO Objectives)

The company proposes to utilise the Net Proceeds towards funding the following objects:

  1. Setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts;
  2. Funding capital expenditure requirements towards purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra;
  3. Repayment/ prepayment, in full or part, of certain borrowings availed by the company; and
  4. General corporate purposes.

GALA PRECISION ENGINEERING IPO ALLOTMENT STATUS

How to Apply for Gala Precision Engineering IPO?

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How to Apply Gala Precision Engineering IPO through Zerodha?

Log in to the Console in the Zerodha Website or Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Gala Precision Engineering”. Click on the Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open a Demat Account with Zerodha.

How to Apply Gala Precision Engineering IPO through Upstox?

Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Gala Precision Engineering”. Click on the Bid Button. Confirm your application. Now go to your UPI App on Net Banking or BHIM App to Approve – the mandate. Open a Demat Account with Upstox.

 

In case you have not been allotted or for any partial allotment of IPO shares, the blocked amount, if any, will be unblocked/released on or before the UPI mandate expiry date. Please reach out to your bank in case funds are not unblocked/released after the mandate expiry date.

PARENT COMPANY FOR SHAREHOLDER QUOTA

IPO ALLOTMENT TIPS & TRICKS

Frequently Asked Questions

What is Gala Precision Engineering IPO?

Gala Precision Engineering IPO is a main-board initial public offering of 3,174,416 Equity shares of the face value of ₹10 aggregating up to ₹167.93 Crores. The issue price of the IPO is ₹503 to ₹529 Per Equity Share. The minimum order quantity is 28 Shares per application and the offer type is Book Built Issue. The IPO opens on September 02, 2024 and closes on September 04, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

When Gala Precision Engineering IPO will open?

The Gala Precision Engineering IPO opens on September 02, 2024 and closes on September 04, 2024.

How to apply for Gala Precision Engineering IPO?

You can apply in Gala Precision Engineering IPO online using either UPI or ASBA as payment method. Pl Capital Markets Private Limited is the book running lead manager of the Gala Precision Engineering IPO, while Link Intime India Private Ltd is the registrar for the issue.

When Gala Precision Engineering IPO allotment?

The finalization of Basis of Allotment for Gala Precision Engineering IPO will be done on September 05, 2024, and the allotted shares will be credited to your demat account by September 06, 2024.

Check the Gala Precision Engineering IPO allotment status.

When is Gala Precision Engineering IPO listing date?

The Gala Precision Engineering IPO listing date is not yet announced. The tentative date of Gala Precision Engineering IPO listing is September 09, 2024.

What is the lot size of Gala Precision Engineering IPO?

Gala Precision Engineering lot size is 28 Shares and the minimum order quantity is 1 Shares.