Gala Precision Engineering IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Sep 04, 2024Let’s have a detailed review of the company and analytics of the Gala Precision Engineering IPO release date, IPO offer price, subscription, Gala Precision Engineering Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 503 to Rs 529 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 28 Shares |
| Listing Date | September 9, 2024 |
| Offer for Sale | Rs 32.59 Cr. |
| Fresh Issue | Rs 135.34 Cr. |
| IPO Size | Rs 167.93 Cr. |
| Tick Size | 1 |
Gala Precision Engineering IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Gala Precision Engineering Share Price |
Gala Precision Engineering IPO – Summary
They are a precision component manufacturer of technical springs like disc & strip springs (“DSS”) including wedge lock washers; coil & spiral springs (“CSS”) and special fastening solutions (“SFS”) supplying to original equipment manufacturers (“OEMs”), Tier 1 and channel partners; used in sectors like renewable energy including wind turbine and hydropower plants, various industrial sectors such as electrical, off-highway equipment, infrastructure and general engineering, mobility segments such as automotive and railways.
The promoters of this company are KIRIT VISHANJI GALA AND SMEET KIRIT GALA. The lead manager of the issue is PL Capital Markets Private Limited, and the Registrar of this issue is Link Intime India Private Limited.
Gala Precision Engineering IPO Date
The opening and closing dates of Gala Precision Engineering IPO are September 2, 2024, and September 4, 2024, respectively.
Gala Precision Engineering IPO Subscription
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 2nd Sep | 0.86x | 20.80x | 12.36x | 38.95x | 10.96x |
| 2nd Day – 3rd Sep | 5.06x | 133.09x | 44.55x | 119.92x | 52.41x |
| 3rd Day – 4th Sep | 232.54x | 414.62x | 91.95x | 258.95x | 201.41x |
| Shares Offered or Net Issue | 633,724 | 475,293 | 1,109,017 | 5,796 | 3,174,416 |
The shares subscribed by the public will be updated here.
Gala Precision Engineering IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Gala Precision Engineering Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | September 5, 2024 |
| Refunds Initiation | September 6, 2024 |
| Credit of Shares to Demat Account | September 6, 2024 |
| Share Listing Date | September 9, 2024 |
Gala Precision Engineering IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 503 to Rs 529
Gala Precision Engineering IPO Equity Size
This Initial Public Issue of 3,174,416 Equity Shares of Rs.10 each for cash at a price of Rs 503 to Rs 529 per equity share aggregating to Rs.167.93 Cr.
Gala Precision Engineering IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 2,558,416 Equity Shares of Rs.10/ each.
Issue Size: 3,174,416 Equity Shares of Rs.10 each, aggregating to Rs.167.93 Cr.
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Gala Precision Engineering IPO – Live Performance
The listing date of this IPO is September 9, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Gala Precision Engineering Share Price |
Gala Precision Engineering IPO Grey Market Premium
The Gala Precision Engineering Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Gala Precision Engineering IPO – Company Overview
Their listed competitors include Harsha Engineers International Limited, SKF India Limited, Sundram Fasteners Limited, Rolex Rings Limited, Sterling Tools Limited and Ratnaveer Precision Engineering Limited.Their technical springs and high tensile fasteners have been supplied to customers in countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden, Switzerland etc. Accordingly, they are a key link in the global supply chain for OEMs.
Their business primarily comprises (i) the springs technology division, under which they manufacture wedge lock washers (“WLW”), CSS and (ii) SFS in which they manufacture anchor bolts, studs and nuts. Their DSS products find applications in renewable energy, railways, automobiles, off-highway vehicles, heavy machinery, and electrical and power equipment.
The global DSS& WLW market is valued at ~ US$ 891M in calendaryear 2023 witnessing a CAGR of ~6% during calendaryear 2020 –2023 in which they have a global market share of ~2% as of calendaryear 2023. They are major disc springs manufacturer in domestic market and have~10% market share in the Indian disc springs market.
They have a significant presence in the DSS market for renewable industry with ~70% share in the domestic market and ~3% share in the global market.
Gala Precision Engineering IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-24 | Mar-23 | 31-Mar-22 | |
| Total Assets | 1886.85 | 1,703.86 | 1,456.17 |
| *Total Revenue | 2043.77 | 1,670.82 | 1,479.63 |
| Total Expense | 1767.90 | 1,493.84 | 1,367.35 |
| Profit After Tax | 223.32 | 242.12 | 66.31 |
Earnings per Equity Share (in Million)
| 31-Mar-24 | Mar-23 | 31-Mar-22 | |
| Basic & Diluted | 22.28 | 22.34 | 6.56 |
Further, their PAT for the period ended on March 31, 2024, March 31, 2023, and March 31, 2022, were Rs. 223.32 Million, Rs. 242.12 Million and Rs. 66.31 Million respectively.
Gala Precision Engineering IPO – Promoters
The Promoter of this company is:
- KIRIT VISHANJI GALA
- SMEET KIRIT GALA
List of Related Parties (Key Managerial Personnel)
- Kirit Vishanji Gala, Chairman and Managing Director
- Balkishan Jalan, Whole-time Director, Executive Director
- Satish Kotwani, Whole-time Director (Marketing)
- Rajendra Gogri, Non–Executive Director
Gala Precision Engineering IPO – Promoters Holding
- Pre-Issue Share Holding – 74.56%
- Post-Issue Share Holding – %
Gala Precision Engineering IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 3,174,416 Equity Shares aggregating up to Rs.167.93 Cr. |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 10,111,584 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Gala Precision Engineering IPO Issue Object
Their Company proposes to utilize 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 the purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra;
- Repayment/ prepayment, in full or part, of certain borrowings availed by their Company; and
- General corporate purposes.
Gala Precision Engineering IPO – Business Strategy
- Strengthening their core capabilities in precision engineering for sustainability
- Moving up the value chain from niche markets to large addressable markets
- Leverage in-house design and development capabilities to grow their product offerings and capitalize on future trends
- Strengthen relationships with their existing customers and expand customer base
Gala Precision Engineering IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- They are a well-established manufacturer of precision engineering solutions with a diverse product portfolio for multiple user industries.
- They have a long-standing relationship of over 15 years with both Indian and global OEM and Tier 1 customers.
- They have well-equipped manufacturing facilities along with in-house design and other capabilities which offer scale, flexibility, and comprehensive solutions.d.They have an experienced management team supported by a large, diverse, and skilled workforce.
- They have a track record from the incorporation of consistent financial growth and performance characterized by operational efficiency and high repeat business.
- Their Company is certified as a great workplace in the category of “Mid-size organisations” by the Great Place to Work Institute, India. The certificate is valid from November 2023 to November 2024.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-24 |
22.09
|
21.38 | 103.30 |
| 31-Mar-23 | 23.98 | 28.94 | – |
| Mar-22 | 6.56 | 11.18 | – |
Gala Precision Engineering IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | NAV( Rs. per Share) | Total Income (Rs. in Millions) | |
| Gala Precision Engineering Limited | 10 | [●] | 24.37 |
103.30
|
2,043.77 |
| Listed Peers | |||||
| Harsha Engineers International Limited | 10 | 44.33 | 22.09 | 129.09 |
14,217.90
|
| SKF India Limited | 10 | 48.50 | 12.24 | 542.63 |
46,641.40
|
Gala Precision Engineering IPO Lead Managers
| Lead Managers |
| PL Capital Markets Private Limited 3rd Floor, Sadhana House, 570, P. B. Marg, Worli, Mumbai -400 018, Maharashtra, India. Telephone: +91 22 6632 2222 Email:galaprecisionipo@plindia.com Website: www.plindia.com Investor Grievance ID: grievance-mbd@plindia.com Contact Person: Wincy Nadar/Ashwinikumar Chavan SEBI Registration Number: INM000011237 |
Gala Precision Engineering IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park, L.B.S. Marg Vikhroli (West), Mumbai 400 083, Maharashtra Telephone: +91 22 4918 6200 E-mail: galaprecision.ipo@linkintime.co.in Investor grievance e-mail: galaprecision.ipo@linkintime.co.in Website: www.linkintime.co.in Contact person: Shanti Gopalkrishnan SEBI registration number: INR000004058 |
Gala Precision Engineering IPO – Other Details
- Statutory Auditor – M M Nissim & Co LLP
- Legal Counsel to the Company – M/s. Crawford Bayley & Co.
- Bankers to the Company – Yes Bank Limited and HDFC Bank Limited
Gala Precision Engineering IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Gala Precision Engineering Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Gala Precision Engineering IPO Review FAQs
Check out various FAQs related to Gala Precision Engineering IPO:
What is the Issue Size of Gala Precision Engineering IPO?
The Company is making an initial public offer of 3,174,416 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of the Gala Precision Engineering IPO?
The price band for this particular IPO ranges between Rs 503 to Rs 529. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Gala Precision IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on September 2, 2024, while the closing date is set at September 4, 2024.
What is the Gala Precision IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on September 5, 2024, refund initiation is on September 6, 2024, credit of shares is on September 6, 2024, and the share listing date is on September 9, 2024.
What is the Gala Precision IPO Listing Date?
Shares of this company shall be listed in the exchanges on September 9, 2024. The date, when the listing would be done, is stagnant on September 9, 2024.
Who is the Registrar of Gala Precision IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Gala Precision IPO?
Here are the promoters of this IPO – KIRIT VISHANJI GALA AND SMEET KIRIT GALA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Gala Precision IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Gala Precision IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Gala Precision Engineering Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2024 in Million is 223.32, 2023 is 242.12, and 2022 is 66.31.
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