Gala Precision Engineering Limited IPO

NiftyTrader • September 2, 2024

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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

IPO Date	September 2, 2024 to September 4, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹503 to ₹529 per share
Lot Size	28 Shares
Total Issue Size	3,174,416 shares (aggregating up to ₹167.93 Cr)
Fresh Issue	2,558,416 shares (aggregating up to ₹135.34 Cr)
Offer for sale	616,000 shares of ₹10 (aggregating up to ₹32.59 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	10,111,584
Shareholding post-issue	12,670,000

Gala Precision Engineering IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	28	₹14,812
Retail (Max)	13	364	₹192,556
S-HNI (Min)	14	392	₹207,368
S-HNI (Max)	67	1,876	₹992,404
B-HNI (Min)	68	1,904	₹1,007,216

Gala Precision Engineering IPO Objectives

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

General Corporate Purpose
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 the purchase of equipment, plant, and machinery at Wada, Palghar, Maharashtra;
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

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

Gala Precision Engineering IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Net offer
Retail Shares Offered	Not less than 35.03% of the Offer
NII (HNI) Shares Offered	Not less than 15.00% of the Offer

Gala Precision Engineering IPO Timeline (Tentative Schedule)

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

IPO Open Date	Monday, September 2, 2024
IPO Close Date	Wednesday, September 4, 2024
Basis of Allotment	Thursday, September 5, 2024
Initiation of Refunds	Friday, September 6, 2024
A credit of Shares to Demat	Friday, September 6, 2024
Listing Date	Monday, September 9, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 4, 2024