Gala Precision Engineering IPO is a book built issue of Rs 167.93 crores. The issue is a combination of fresh issue of 0.26 crore shares aggregating to Rs 135.34 crores and offer for sale of 0.06 crore shares aggregating to Rs 32.59 crores.
Gala Precision Engineering IPO bidding started from September 2, 2024 and ended on September 4, 2024. The allotment for Gala Precision Engineering IPO was finalized on Thursday, September 5, 2024. Gala Precision Engineering IPO will be listed on BSE, NSE on September 9, 2024.
Gala Precision Engineering IPO price band is set at ₹503 to ₹529 per share. The minimum lot size for an application is 28 Shares. The minimum amount of investment required by retail investors is ₹14,812. The minimum lot size investment for sNII is 14 lots (392 shares), amounting to ₹207,368, and for bNII, it is 68 lots (1,904 shares), amounting to ₹1,007,216.
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.
Refer to Gala Precision Engineering IPO RHP for detailed information.
Gala Precision Engineering IPO Details
| IPO Date | September 2, 2024 to September 4, 2024 |
| Listing Date | September 9, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹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 |
| Share holding pre issue | 10,111,584 |
| Share holding post issue | 12,670,000 |
Gala Precision Engineering IPO Reservation
Gala Precision Engineering IPO offers 31,74,416 shares. 6,33,724 (19.96%) to QIB, 4,75,293 (14.97%) to NII, 11,09,017 (34.94%) to RII, 5,796 (0.18%) to employees and 9,50,586 (29.95%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 9,50,586 (29.95%) | NA |
| QIB Shares Offered | 6,33,724 (19.96%) | NA |
| NII (HNI) Shares Offered | 4,75,293 (14.97%) | |
| bNII > ₹10L | 3,16,862 (9.98%) | 808 |
| sNII < ₹10L | 1,58,431 (4.99%) | 404 |
| Retail Shares Offered | 11,09,017 (34.94%) | 39,607 |
| Employee Shares Offered | 5,796 (0.18%) | NA |
| Total Shares Offered | 31,74,416 (100%) |
Gala Precision Engineering IPO Anchor Investors Details
Gala Precision Engineering IPO raises Rs 50.29 crore from anchor investors. Gala Precision Engineering IPOAnchor bid date is August 30, 2024.Gala Precision Engineering IPOAnchor Investors list
| Bid Date | August 30, 2024 |
| Shares Offered | 950,586 |
| Anchor Portion Size (In Cr.) | 50.29 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 4, 2024 |
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 |
| 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 |
Gala Precision Engineering IPO Lot Size
Investors can bid for a minimum of 28 shares and in multiples thereof. Thebelow table depicts the minimum and maximum investment by retail investors and HNI in terms ofshares and amount.
| 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 |
| Lot Size Calculator | |||
Gala Precision Engineering IPO Promoter Holding
The promoters of the company are Kirit Vishanji Gala and Smeet Kirit Gala.
| Share Holding Pre Issue | 74.56% |
| Share Holding Post Issue |
About Gala Precision Engineering Limited
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'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 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 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 asGermany, Denmark, China, Italy, Brazil, USA, Swedenand Switzerland.
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.
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.
Company Financials
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 |
Check Gala Precision Engineering IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 22.09 | 17.63 |
| P/E (x) | 23.95 | 30.01 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latestFY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FYearnings of March 31, 2024 that is available in RHP.
Objects of the Issue (Gala Precision Engineering IPO Objectives)
The company proposes to utilise the Net Proceeds towards funding the following objects:
- 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 purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra;
- Repayment/ prepayment, in full or part, of certain borrowings availed by the company; and
- General corporate purposes.
Gala Precision Engineering IPO Review (Apply)
[Dilip Davda] The company is in the business of manufacturing precision components having specialization in technical springs. It has posted growth in its top and bottom lines for the reported periods. Higher net for FY23 is attributed to exception items. Based on FY24 earnings, the issue relatively appears fully priced. Investors may park funds for medium to long term. Read detail review...
Gala Precision Engineering IPO Subscription Status (Bidding Detail)
The Gala Precision Engineering IPO is subscribed 201.41 times on September 4, 2024 6:19:07 PM. The public issue subscribed 91.95 times in the retail category, 232.54 times in the QIB category, and 414.62 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 232.54 |
| NII | 414.62 |
| bNII (bids above ₹10L) | 439.67 |
| sNII (bids below ₹10L) | 364.54 |
| Retail | 91.95 |
| Employee | 258.95 |
| Total | 201.41 |
Total Application : 3,444,648 (86.97 times)
Gala Precision Engineering IPO Prospectus
- ›Gala Precision Engineering IPO DRHP
- ›Gala Precision Engineering IPO RHP
- ›Anchor Investors in Gala Precision Engineering IPO
Gala Precision Engineering IPO Rating
Gala Precision Engineering IPO Listing Details
| Listing Date | September 9, 2024 |
| BSE Script Code | 544244 |
| NSE Symbol | GALAPREC |
| ISIN | INE0RE001014 |
| Final Issue Price | ₹529 per share |
Gala Precision Engineering Limited Contact Details
Gala Precision Engineering Limited
A-801, 8th Floor
Thane One DIL Complex, Ghodbunder Road Majiwade,
Thane (West)-400610
Phone: +91 22-6930 9224
Email: investor.relations@galagroup.com
Website: https://www.galagroup.com/
Gala Precision Engineering IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: galaprecision.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Gala Precision Engineering IPO - Buy or Not
Gala Precision Engineering IPO Recommendation Summary
| Review By | Subscribe | Neutral | Avoid |
|---|---|---|---|
| Brokers | 11 | 0 | 0 |
| Members | 1 | 0 | 0 |
Read All ReviewsPost Your Review Manage Reviews
Gala Precision Engineering IPO Lead Manager(s)
- PL Capital Markets Private Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager PerformanceTracker
Gala Precision Engineering IPO FAQs
Gala Precision Engineering IPO is a main-board IPO of 3,174,416 equity shares of the face value of ₹10 aggregating up to ₹167.93 Crores. The issue is priced at ₹503 to ₹529 per share. The minimum order quantity is 28 Shares.
The IPO opens on September 2, 2024, and closes on September 4, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Gala Precision Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Gala Precision Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Gala Precision Engineering IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the 'Gala Precision Engineering IPO' row and click the 'Bid' button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Zerodha IPO Application Process Review for more detail.
The Gala Precision Engineering IPO opens on September 2, 2024 and closes on September 4, 2024.
Gala Precision Engineering IPO lot size is 28 Shares, and the minimum amount required is ₹14,812.
You can apply in Gala Precision Engineering IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Gala Precision Engineering IPO will be done on Thursday, September 5, 2024, and the allotted shares will be credited to your demat account by Friday, September 6, 2024. Check the Gala Precision Engineering IPO allotment status.
The Gala Precision Engineering IPO listing date is on September 9, 2024.
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