Gala Precision Engineering Limited IPO

Gala Precision Engineering Limited IPO opens on September 2, 2024, and closes on September 4, 2024. The allotment for the Gala Precision Engineering Limited IPO is anticipated to be completed on Thursday, September 5, 2024. The IPO will be tentatively listed on the NSE and BSE on Monday, September 9, 2024.

Gala Precision Engineering Limited IPO’s price band is Rs 503 to Rs 529 per share. The IPO is a book-built issue of Rs 167.93 crores an entirely new issue of 0.26 crore.

Gala Precision Engineering IPO Details

Gala Precision Engineering IPO Lot Size

Gala Precision Engineering IPO Objectives

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

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

About Gala Precision Engineering Limited

Established in February 2009, Gala Precision Engineering Limited specializes in producing precision components like disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS) for various sectors including automotive, railway, and general engineering. The company serves over 175 customers across 25+ countries, including Germany, China, and the USA, and operates two manufacturing facilities in Maharashtra, with a new one under development in Tamil Nadu. As of June 2024, Gala employs 294 permanent and 390 contract workers, with roles spanning manufacturing, logistics, quality assurance, and administration.

Gala Precision Engineering Limited Financial Information

Gala Precision Engineering IPO Reservation

Gala Precision Engineering IPO Timeline (Tentative Schedule)

Gala Precision Engineering IPO opens on September 2, 2024, and closes on September 4, 2024.