Let’s have a detailed review of the company and analytics of the Galactico IPO release date, IPO offer price, subscription, Galactico IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters, and other related things.
Galactico IPO Review & Ratings
|IPO Ratings & Review|
|Top Brokers Review||7.9/10|
Summary of Galactico IPO
Company is managed by the Promoter Director Mr. Vipul Lathi, a Chartered Accountant by profession, having vast experience in financial services and infrastructure financing.
Company’s objective is to meet the need of professional advice and consultancy primarily to SMEs and Startups looking to access growth capital and expand their business horizons. The Investment Banking arm helps small and midsize enterprises raise equity and structured debt (domestic as well as foreign) funding.
The team at Galactico aims to 84 provide solutions to the clients with a vision to maximize their growth by placing the highest importance on quality, professionalism, integrity and confidentiality with management team of the highest caliber.
To achieve this vision, the optimum combination of knowledge and experience of the management team and dedication of the employees, shall enable us to continue to take advantage of both current and future market opportunities, thus expanding the business horizons.
From FY 2016-17 to FY 2018-19, as per the Restated Financial Statements
In the Restated Consolidated Financial Statement, the total income was Rs. 1,919.35 Lakhs and Rs. 1,653.94 Lakhs for the financial year 2019 and 2018.
The Profit after Tax (PAT) for the similar fiscal years mentioned above were Rs. 141.82 Lakhs and Rs. 135.13 Lakhs respectively. For the Financial year ended 2019, 2018 and 2017, the total income in the Restated Standalone Financials was Rs. 196.58 Lakhs, Rs. 160.40 Lakhs and Rs. 51.84 Lakhs. The Profit after Tax (PAT) for the similar fiscal years mentioned above were Rs. 74.09 Lakhs, Rs. 85.48 Lakhs and Rs. 31.73 Lakhs respectively.
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Galactico IPO Date
The opening and the closing date of Galactico IPO is 24th Sept 2019 and 27th Sept 2019.
Galactico IPO Subscription
|Day / Date||NII||RII||Total Subscription|
|1st Day – 24th Sept||1.76x||0.06x||0.91x|
|2nd Day – 25th Sept||1.76x||0.06x||0.91x|
|3rd Day – 26th Sept|
|4th Day – 27th Sept|
|Shares Offered or Net Issue||762,000||762,000||1,524,000|
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Galactico IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Galactico IPO Price Band or Cash Price
The face value of each share is Rs 10, but the cash price is Rs 23.
Galactico IPO Equity Share Offering
The Fresh Issue of up to 3,00,000 Equity Shares by our Company of Rs. 10 each at a price of Rs. 23 per equity share aggregating up to Rs 0.69 Crores.
The Issue Size is 1,608,000 Equity Shares of Rs 10, aggregating up to Rs 3.70 Crores.
The Offer for Sale is 1,308,000 Equity Shares of Rs 10, aggregating up to Rs 3.01 Crores.
Galactico Corporate Services Limited – Company Overview
Company was originally incorporated as “Amigos Trading and Commerce Private Limited” on June 15, 2015 under the provisions of Companies Act, 2013. Pursuant to a Special Resolution of our Shareholders passed at Extra Ordinary General Meeting dated December 30, 2016, our Company’s main object was altered and consequently CIN was changed to U74110MH2015PTC265578.
Subsequently, a fresh certificate of incorporation consequent upon change of name of our Company to “Galactico Corporate Services Private Limited” dated April 04, 2017 was issued by ROC, Mumbai. Further, pursuant to conversion of our Company to a Public Limited Company, a fresh certificate of incorporation was issued by ROC, Mumbai on November 06, 2018 for “Galactico Corporate Services Limited” bearing CIN U74110MH2015PLC265578.
The company motto is to achieve excellence across a range of financial services like: Advisory in IPO, Merger & Acquisitions, Debt Syndications, Takeovers, Valuations, Strategic & General Corporate Advice and Business Modeling, etc. We are primarily focused on providing such services to small and midsized enterprises (SMEs). The Registered Office and Head Office situated at Nasik, we also provide services from our branch offices situated in Jalgaon, Jaipur and Mumbai.
Business strategies of Galactico
- Proposed Expansion at existing Manufacturing Facility
- To expand product portfolios and turnkey composite works
- Entering into International Markets
- Focus on enhancing the Project Execution Capabilities
- Growing the existing customers’ relationships
Galactico – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary of Galactico IPO
On the basis of Standalone statement:-
|Amount (in INR & lakhs)|
|Profit After Tax||141.82||135.13|
Earnings per Equity Share (in lakhs)
|Basic & Diluted||2.14||1.99|
From the above statements, one could find that Galactico may perform well.
Galactico IPO – Promoters
The Promoter of this company is:
- Subramaniam Swaminathan Iyer
- Venkataraman Ganesan
List of Related Parties (Key Managerial Personnel)
- Subramaniam Swaminathan Iyer – Managing Director
- Vijaya Agrawal – Company Secretary
Interest in promotion of the Company
The Key Managerial Personnel of the Company have interest in the Company to the extent of the remuneration or benefits to which they are entitled to as per their terms of appointment and reimbursement of expenses incurred by them during the ordinary course of business and to the extent of Equity Shares held by them in the Company, if any and dividends payable thereon, if any.
Directors have not entered into any contract, agreement or arrangements in which the Directors are interested directly or indirectly and no payments have been made to them in respect of these contracts, agreements or arrangements or are proposed to be made to them.
Interest in Intellectual Rights of the Company
As on the date of filing of the Draft Red Herring Prospectus, the Company does not own any intellectual property rights.
Galactico IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Equity Shares Offered||Up to 16,08,000 Equity Shares of Rs 10 each|
|Reserved for Market Makers||Up to 84,000 Equity Shares of Rs 10 each|
|Net Issue to the Public||Up to 15,24,000 Equity Shares of Rs 10 each|
|Retail Investors Portion||Up to7,62,000 Equity Shares of Rs 10 each|
|Non-Retail Investors Portion||Up to7,62,000 Equity Shares of Rs 10 each|
|Equity Shares outstanding prior to the Issue||54,31,205 Equity Shares|
|Equity Shares outstanding after the Issue||Up to 57,31,205 Equity Shares|
Galactico IPO Issue Object
These are the IPO Issue Objects of the company
- To finance expansion of the existing Manufacturing Unit II;
- Funding the working capital requirement of the Company;
- General corporate purposes.
Galactico IPO – Basis of the 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:
- Qualified and Experienced Promoter & Management Team
- Strong professional and execution team allows the Company to develop a strong business
- Diversified Portfolio of Services offered
- Providing Client Centric Solutions and Quality Assurance
- Low dependency on Debt and Controlled Overheads
- Long-term relationships
The relevant quantitative factors are:
On the basis of standalone statement:-
|Basic & Diluted EPS||RONW||NAV (Rs.)|
- Price to Earnings (P/E) ratio in relation to Issue Price of Rs. [ ]:
- Competitive Peers:
|Particulars||Face Value (in Rs.)||EPS (In Rs.)||NAV (In Rs.)||P/E Ratio||RONW|
|Keynote Financial Services||10||3.05||77.01||13.08||3.96%|
|Navigant Corporate Advisors||10||1.78||20.65||9.75||8.63%|
|Galactico Corporate Services||10||1.36||22.64||NA||6.02%|
Galactico IPO Lead Managers
|ARYAMAN FINANCIAL SERVICES LIMITED
60, Khatau Building, Ground Floor,Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001Tel No.: +91 – 22 – 6216 6999Email:[email protected]:www.afsl.co.inInvestor Grievance Email:[email protected] Person: Mr. Vimal Maniyar/ Ms. Kruti BhattSEBI Registration No. INM000011344
Galactico IPO Registrar to offer
|Registrar to the Offer|
|BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis,Makwana Road, Marol, Andheri East, Mumbai – 400 059Tel: +91 – 22 – 6263 8200Email:[email protected] Website:www.bigshareonline.com , Investor Grievance Email:[email protected], Contact Person: Mr. Babu Raphael SEBI Registration No.: INR000001385
Galactico IPO Other Details:
- Statutory Auditor – A S BEDMUTHA & CO.
- LEGAL COUNSEL – ZASTRIYA
Galactico IPO Grey Market Premium
The Galactico IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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Galactico IPO News
News 1 – Download DRHP Prospectus
News 1 – RHP Prospectus
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