The IPO of Gala Precision Engineering ran between September 02-04 as it had offered its shares in the fixed price band of Rs 503-529 per share with a lot size of 28 shares. 
Special 
The IPO of Gala Precision Engineering ran between September 02-04 as it had offered its shares in the fixed price band of Rs 503-529 per share with a lot size of 28 shares. Gala Precision Engineering made a strong Dalal Street debut on Monday, September 9, despite the volatility in the broader markets as the stock was listed at Rs 750 on BSE, a premium of 41.78 per cent above the issue price of Rs 529 apiece. However, the stock was listed with a premium of 36.31 per cent on NSE at Rs 721.10 over the given issue price.
Listing of Gala Precision Engineering has been on the expected lines. Ahead of their listing, shares of Galal Precision were commanding a premium of Rs 245-250 per share, suggesting a listing pop of nearly 50 per cent for the investors. However, it was around Rs 290 when the allotment for the IPO was declared.
The IPO of Gala Precision Engineering was open for bidding between September 02 and September 04. It had offered its shares in the fixed price band of Rs 503-529 per share with a lot size of 28 shares. The company raised a total of Rs 167.93 crore from its IPO, which included a fresh share sale of up to Rs 135.34 crore and an offer-for-sale (OFS) up to 6,16,000 equity shares.
The issue was overall subscribed a bumper 201.41 times, thanks to a strong push from all investors. The quota for qualified institutional bidders (QIBs) was booked 232.54 times. The quota for non-institutional investors was subscribed 414.62 times. The portions reserved for retail investors and employees saw bidding for 91.95 times and 259 times during the bidding process.
Thane-based Gala Precision Engineering 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, incorporated in February 2009, supplies these products to original equipment manufacturers (OEMs).
Brokerages were mostly positive on the issue, suggesting investors to subscribe to it for a long-term. PL Capital Markets was the sole book running lead manager of the Gala Precision Engineering IPO, while Link Intime India served as the registrar for the issue. Shares of the company shall be listed on both BSE and NSE bourses.
Copyright©2025 Living Media India Limited. For reprint rights: Syndications Today
