Gala Precision Engineering Retail IPO

• Gala Precision Engineering Retail IPO is a book-built issue of Rs 167.93 crores.
• This upcoming IPO bidding opens on September 2 and closes on September 4, 2024.
• Gala Precision Engineering Retail's IPO price is set at Rs 503 – Rs 529 per share.
• The minimum investment amount required for retail investors is Rs 14,812.

Gala Precision Engineering Retail IPO: Synopsis

Gala Precision Engineering Retail is open for subscription from Monday, September 2, 2024, and closing on Wednesday, September 4, 2024. The price band for this IPO is set to Rs 503 – Rs 529 per share.

The company is offering a fresh issue of 25.58 lakh of equity shares amounting up to Rs 135.34 crore and an offer for sale of 6.16 lakh of equity shares amounting up to Rs 32.59 crore; this aggregates to a total size of 31.74 lakh of equity shares amounting up to Rs 167.93 crore.

The allotment for this new IPO is expected to be finalised on Thursday, September 5, 2024. This IPO will be listed on the NSE and BSE exchanges on Monday, September 9, 2024.

The minimum and maximum lot size set for the retail category is 1 lot, i.e., 28 shares and 13 lots i.e., 364 shares. For retail investors, the minimum and maximum investment amount required is Rs 14,812 and Rs 192,556 respectively.

The IPO is managed by PL Capital Markets Private Limited, which is book running as the lead manager of this IPO. The company has appointed Link Intime (India) Private Limited as the registrar for the issue.

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Gala Precision Engineering Retail Limited: About the Company

Gala Precision Engineering Limited incorporated in February 2009, specialises in manufacturing precision components such as disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS). Serving sectors like automotive, railway, and general engineering, the company supplies its products to OEMs worldwide, including in Germany, Denmark, and the USA.

Gala operates two manufacturing facilities in Wada District, Maharashtra, and is setting up a new facility in Tamil Nadu. As of June 30, 2024, Gala employed 294 permanent and 390 contract workers, playing a crucial role in the global supply chain for OEMs with its diverse product offerings.

Gala Precision Engineering Retail IPO: Objectives

The funding from the fresh issue will be utilised for several purposes. These include setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbudur, Tamil Nadu, for manufacturing high tensile fasteners and hex bolts, and funding capital expenditure requirements for the purchase of equipment, plant, and machinery at Wada, Palghar, Maharashtra. Furthermore, the proceeds will be used for the repayment or prepayment, in full or in part, of certain borrowings availed by the company, as well as for general corporate purposes.

Gala Precision Engineering Retail IPO: Other Important Details

Time-Table of Gala Precision Engineering Retail IPO

Gala Precision Engineering Retail Ltd Financial Metrics (Amt in Rs Crore)

Minimum Investment: Lot Size Details

Promoters of Gala Precision Engineering Retail Limited and Their Holdings

Kirit Vishanji Gala and Smeet Kirit Gala are the promoter(s) of the company. They collectively held 74.56% of the company's shares. However, post-IPO, the change in their shareholding has not yet been disclosed.

FAQs

1.       What are the core details available for Gala Precision Engineering Retail IPO?

Gala Precision Engineering Retail IPO is a book-built issue of Rs 167.93 crore. This upcoming IPO offering a fresh issue of 25.58 lakh of equity shares and an offer for sale of 6.16 lakh of equity share. The allotment for this new IPO is expected to be finalised on Thursday, September 5, 2024.

2.       How can I apply for the Gala Precision Engineering Retail IPO?

The public subscription of this new IPO opens on Monday, September 2, 2024 and closes on Wednesday, September 4, 2024. Click here to initiate the application process.

3.       Who is the lead manager(s) for the Gala Precision Engineering Retail IPO?

PL Capital Markets Private Limited were appointed as the book-running lead manager for this IPO.

4.       Who is appointed as the registrar for this IPO?

Link Intime India Private Limited has been appointed as the registrar for this public issue.

5.       How can I check the allotment status of the IPO?

Investors who applied for IPO can check the allotment status of Gala Precision Engineering Retail Limited by visiting here, for further updates, follow Bigul.

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