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 |
