Gala Precision Engineering Share Price Highlights: Stock hits 5% upper circuit after listing at 36.3% premium on NSE

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3 min read | Updated on September 09, 2024, 16:22 IST

SUMMARY

Gala Precision Engineering IPO Listing: The ₹167.9 crore IPO was a fresh issuance of 25.58 lakh equity shares and offer for sale (OFS) of 6.16 lakh shares by promoter group firms and individual shareholders.

Gala Precision Engineering is a precision component manufacturer of technical springs.

Gala Precision Engineering Share Price Live Update at 3:40 pm: Shares of Gala Precision Engineering settled at 5% upper circuit on Monday after listing at 36.3% premium.

Gala Precision Engineering Share Price Live Update at 3:11 pm: On the BSE, shares of Gala Precision Engineering are trading 4.9% higher at 786.9 apiece.

Gala Precision Engineering Share Price Live Update at 1:08 pm: Financials

Particulars	FY22	FY23	FY24
Revenue	₹ 145 crore	₹ 165 crore	₹ 202 crore
Net Profit	₹ 6.63 crore	₹ 24.2 crore	₹ 22.3 crore

Gala Precision Engineering Share Price Live Update at 11:48 am: The company's market valuation stands at ₹959.31 crore as shares hit 5% upper circuit after listing at 36.3% premium on the National Stock Exchange (NSE).

Gala Precision Engineering Share Price Live Update at 11:05 am: Price information

Current price: ₹757.1 (+5%)
Issue price: ₹529
Open: ₹721.1
High: ₹757.1
Low: ₹721.1

Gala Precision Engineering Share Price Live Update at 10:41 am: Trading stats

Traded volume (lakhs): 7.43
Traded value (crore): ₹54.7
Total market cap: ₹959.31 crore

Gala Precision Engineering Share Price Live Update at 10:10 am: After listing at 36.3% premium, shares of Gala Precision Engineering hit 5% upper circuit to trade at ₹757.15 apiece.

Gala Precision Engineering Share Price Live Update at 10:00 am: Gala Precision Engineering shares made a robust debut, listing at ₹721.1 on the National Stock Exchange (NSE) at a premium of 36.3% over the issue price of ₹529. The stock opened at ₹750, up 41.7%, on the BSE.

Gala Precision Engineering IPO Listing Live Update at 9:45 am: What was the IPO price band?

The Gala Precision Engineering IPO price band was set between ₹503 and ₹529 per equity share.

Gala Precision Engineering IPO Listing Live Update at 9:33 am: Does Gala Precision have international presence?

The company sells products domestically and also exports them globally. As of the financial year 2023-24, it serves 175 customers in 25 countries, including Denmark, Germany, China, Italy, the USA, Sweden, Brazil and Switzerland.

Shares of Gala Precision Engineering will be listed on the NSE and the BSE on Monday, September 9.

Gala Precision Engineering IPO had fetched 201.44 times the subscription during the bidding period from September 2 to September 4.

The portion reserved for non-institutional investors (NIIs) got subscribed 414.65 times, while the Qualified Institutional Buyers (QIBs) category received 232.54 times the subscription. The retail investors (RIIs) quota attracted 91.99 times the subscription.

Also Read: Can companies go public without an IPO? Here's how

The ₹167.93 crore IPO was a fresh issuance of 25.58 lakh shares and offer for sale (OFS) of 6.16 lakh shares by promoter group firms and individual shareholders.

The money raised will be used to establish a new facility, pay debt, fund capital expenditure requirements, and for general corporate purposes.

About Gala Precision Engineering

Gala Precision Engineering is a precision component manufacturer of technical springs, such as disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS).

The company's products are used in sectors such as renewable energy, automobiles, railways, off-highway vehicles, electrical and power equipment, heavy machinery, commercial vehicles, industrial infrastructure and passenger vehicles.

PL Capital Markets Private Limited is the sole book-running lead manager to the issue.

To learn more about IPO listings, schedules, and upcoming IPOs, click here.

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About The Author

Kamal Joshi is a business journalist who covers industries, markets and IPOs. He is passionate about breaking news and enjoys playing tennis, where he loves flexing his backhand.

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Gala Precision Engineering Share Price Highlights: Stock hits 5% upper circuit after listing at 36.3% premium on NSE

About Gala Precision Engineering

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