Gala Precision Engineering IPO: Date, Review, GMP Price & Allotment Details

IPO Date: 2 September - 4 September - 2024

Price: ₹529
Lot Size: 28 Shares
Allotment Date: 5-Sept-2024
Listing Date: 9-Sept-2024
IPO Size: Approx ₹167.93 Crores, 3,174,416 Equity Shares

Gala Precision Engineering IPO Details: The IPO for Gala Precision Engineering is set to open on September 2, 2024, and will close on September 4, 2024. This Book Built Issue aims to raise approximately ₹167.93 crores, including a fresh issue of ₹135.34 crores and an offer for sale of up to 616,000 equity shares, each with a face value of ₹10.

The price band for the IPO is ₹503 to ₹529 per share. The allocation is divided as follows: 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-Worth Individuals (HNIs). The shares will be listed on the NSE and BSE on September 9, 2024, with the allotment date scheduled for September 6, 2024.

In terms of financial performance, Gala Precision Engineering reported a revenue of ₹204.38 crores for 2024, up from ₹167.08 crores in 2023. The company has also turned a profit of ₹22.33 crores in 2024, compared to a loss of ₹24.21 crores the previous year. Given these positive financial trends, the IPO may be considered a promising long-term investment.

Promoters

The company is led by promoters Kirit Vishanji Gala and Smeet Kirit Gala.

About Gala Precision Engineering

With over thirty years of expertise, Gala Precision Engineering is a distinguished provider of high-precision components. Their product range includes High Tensile Fasteners, Coil & Spiral Springs, Disc & Strip Springs, and Wedge Lock Washers. The company adheres to global standards, such as German DIN, while offering tailored solutions to meet client specifications. Gala Precision Engineering serves over 175 customers across more than 25 countries, with a significant international sales presence supported by its Frankfurt office.

The company is also expanding its operations with a new facility in Tamil Nadu focused on special fastening solutions. Emphasizing lean manufacturing and automation, Gala Precision Engineering aims to enhance productivity and minimize errors.

Gala Precision Engineering IPO Objectives:

The company proposes to utilise the Net Proceeds towards funding the following objects:

  1. Setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts;
  2. Funding capital expenditure requirements towards purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra;
  3. Repayment/ prepayment, in full or part, of certain borrowings availed by the company; and
  4. General corporate purposes.

Gala Precision Engineering IPO Review (Apply or Not)

  • Update soon

Gala Precision Engineering IPO Date & Price Band Details:

IPO Open Date:September 2, 2024
IPO Close Date:September 4, 2024
Face Value:₹10 Per Equity Share
IPO Price Band:₹503 to ₹529 Per Share
Issue Size:Approx ₹167.93 Crores3,174,416 Equity Shares
Fresh Issue:Approx ₹135.34 Crores2,558,416 Equity Shares
Offer for Sale:Approx 616,000 Equity Shares
Issue Type:Book Built Issue
IPO Listing:BSE & NSE
Retail Quota:Not more than 35%
QIB Quota:Not more than 50%
NII Quota:Not more than 15%
DRHP Draft Prospectus:Click Here
RHP Draft Prospectus:Click Here
Anchor Investors List:Click Here

Gala Precision Engineering IPO Lot Size:

The minimum market lot for the Gala Precision Engineering IPO is 28 shares, requiring an application amount of ₹14,812. Retail investors are permitted to apply for up to 13 lots, which equates to a total of 364 shares or an amount of ₹192,556.

ApplicationLot SizeSharesAmount
Retail Minimum128₹14,812
Retail Maximum13364₹192,556
S-HNI Minimum14392₹207,368
B-HNI Minimum681,904₹1,007,216

Gala Precision Engineering IPO Timeline:

The Gala Precision Engineering IPO is scheduled to open on September 2, 2024, and will close on September 4, 2024. The allotment of shares for this IPO will be finalized on September 5, 2024. Investors can expect the shares to be listed on the NSE and BSE on September 9, 2024.

IPO Open Date:September 2, 2024
IPO Close Date:September 4, 2024
Basis of Allotment:September 5, 2024
Refunds:September 6, 2024
Credit to Demat Account:September 6, 2024
IPO Listing Date:September 9, 2024

Gala Precision Engineering IPO GMP Today:

The last reported Grey Market Premium (GMP) for the Gala Precision Engineering IPO is ₹268. Based on the IPO price band of ₹529, the estimated listing price is around ₹797 (cap price + current GMP). This suggests an anticipated gain of approximately 50.66% per share.

Gala Precision Engineering Company Financial Report

The company reported revenue of ₹204.38 crores in 2024 against ₹167.08 crore in 2023. The company reported profit of ₹22.33 crores in 2024 against loss of ₹24.21 crores in 2023.

Amount ₹ in Crores

Period EndedRevenueExpenseProfit After TaxAssets
2022₹147.96₹136.74₹6.63₹145.62
2023₹167.08₹149.38₹24.21₹170.39
2024₹204.38₹176.79₹22.33₹188.69

Gala Precision Engineering IPO Valuation – FY2024

Check Gala Precision Engineering IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

KPIValues
ROE:23.59%
ROCE:19.91%
EBITDA Margin:19.86%
PAT Margin:10.93%
Debt to equity ratio:0.53
Earning Per Share (EPS):₹22.09 (Basic)
Price/Earning P/E Ratio:N/A
Return on Net Worth (RoNW):21.38%
Net Asset Value (NAV):₹103.30

Peer Group Comparison

CompanyEPSPE RatioRoNW %NAVIncome
Harsha Engineers International
Limited
12.2444.339.48129.091421.79 Cr.
SKF India Limited111.648.5020.57542.634664.14 Cr.
Sundram Fasteners Limited24.8354.4915.37162.815720.47 Cr.
Rolex Rings Limited57.3040.8317.37329.811236.82 Cr.
Sterling Tools Limited15.3724.7012.38124.11938.51 Cr.
Ratnaveer Precision Engineering
Limited
7.6124.6912.3251.78602.40 Cr.

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

IPO Lead Managers aka Merchant Bankers

  • Pl Capital Markets Private Limited

Company Address

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 FAQs

1. What are the dates for the Gala Precision Engineering IPO?
The IPO opens on September 2, 2024, and closes on September 4, 2024.

2. What is the minimum lot size for the IPO?
The minimum market lot for the Gala Precision Engineering IPO is 28 shares, requiring an application amount of ₹14,812.

3. How many lots can retail investors apply for?
Retail investors can apply for up to 13 lots, totaling 364 shares or an amount of ₹192,556.

4. When will the allotment of shares be finalized?
The allotment of shares will be finalized on September 5, 2024.

5. When will the shares be listed on the stock exchanges?
The shares are expected to be listed on the NSE and BSE on September 9, 2024.

6. What is the price band for the IPO?
The price band for the Gala Precision Engineering IPO is ₹503 to ₹529 per share.

7. How is the IPO allocation divided?
The allocation is divided as follows: 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-Worth Individuals (HNIs).

8. Who are the promoters of Gala Precision Engineering?
The company is promoted by Kirit Vishanji Gala and Smeet Kirit Gala.

9. What is Gala Precision Engineering’s business focus?
Gala Precision Engineering specializes in high-precision components, including High Tensile Fasteners, Coil & Spiral Springs, Disc & Strip Springs, and Wedge Lock Washers. The company caters to global standards and serves over 175 customers in more than 25 countries.

10. Where is Gala Precision Engineering expanding its production capabilities?
The company is establishing a new facility in Tamil Nadu focused on special fastening solutions.

IPO Date: 2 September - 4 September - 2024

Price: ₹529
Lot Size: 28 Shares
Allotment Date: 5-Sept-2024
Listing Date: 9-Sept-2024
IPO Size: Approx ₹167.93 Crores, 3,174,416 Equity Shares

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