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Gallard Steel IPO
373.53xsubscribed

Gallard Steel IPO

Engineering
listed
₹2.84LMin. investment

Gallard Steel Limited IPO Details

SectorEngineering
Price range₹142 – ₹150
IPO type
SME
Lot size1000 shares
Issue size₹37Cr
Red Herring Prospectus
Read
Market cap
₹142.5CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹53.31CrLower than sector avg
Growth rate3Y CAGR
60.92%Higher than sector avg

Gallard Steel IPO Subscription Status

Date
QIB
NII
Retail
Total
19-Nov-25
2.31 times (X)
5.82 times (X)
7.0 times (X)
5.41 times (X)
20-Nov-25
3.57X
52.97X
48.48X
37.23X
21-Nov-25
13.32X
605.26X
348.31X
373.53X

As on 19-Nov-25, 5:30 PM

Gallard Steel IPO Timeline

  1. Pre-apply
    18 Nov 2025
  2. Bid start
    19 Nov 2025
  3. Bid end
    21 Nov 2025
  4. Allotment
    24 Nov 2025
  5. Release of funds
    25 Nov 2025
  6. Demat transfer
    25 Nov 2025
  7. Listing
    26 Nov 2025

About Gallard Steel Limited

Incorporated in 2015, Gallard Steel Limited is engaged in the manufacturing of ready-to-use components, assemblies, and subassemblies for Indian railways, defence, power generation and allied industries. It operates a 12,195 sq. meters manufacturing facility located at Madhya Pradesh, with a capacity utilisation of 95.83% as of September, 2025. Product wise, revenue was led by Traction motors & bogie assembly components, accounting for 78.88% of revenue, while rebonded foam contributing 16.05% of Q2FY26 revenue. The company has presence across 14 states & 1 union territory in India, led by Madhya Pradesh contributing 41.96% and Punjab 19.59% as of September, 2025. Further, the company holds Class ‘A’ foundry status from the Research Designs and Standards Organization (RDSO), Ministry of Railways and is an approved vendor for supplying critical components for defense applications.

Checklist

Quality analysis
Revenue growth
Company valuation
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Risk analysis
Debt to Equity ratio
Promoter holdings
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Objectives of Gallard Steel Limited IPO

Capital expenditure
55.20%
The company will use up to ₹20.73 crore to expand its existing manufacturing facility
General corporate purposes
25.50%
Part of the IPO proceeds will be used for general corporate purposes
Repayment of borrowings
19.20%
The company will use up to ₹7.2 crore towards repayment of certain borrowings

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹53.31Cr60.92%₹6.07Cr₹142.5Cr17.301.19
This sector (avg.)₹342.41Cr0.01%₹38.53Cr₹1,862.48Cr31.540.53
₹10,670.1Cr---₹1,263.5Cr₹39,460.23Cr31.400.10
₹2,217.81Cr---₹423.66Cr₹10,977.95Cr26.730
₹3,087.59Cr---₹471.9Cr₹9,693.55Cr18.040.01

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Gallard Steel IPO Contact Details

Company NameGallard Steel Limited

How to apply for Gallard Steel IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Gallard Steel Limited IPO FAQs