Gala Precision Engineering IPO allotment likely today: Steps to check status on NSE, Link Intime

Precision components manufacturer Gala Precision Engineering Ltd is expected to finalise the IPO share allotment on Thursday, September 5. The company will inform successful bidders about the allotment through SMS and emails.

The company will issue refunds and initiate transfer of shares to the Demat accounts on September 6. Shares of the company are scheduled to debut on the BSE and NSE on September 9.

Gala Precision Engineering IPO closed with a bumper demand on Wednesday, September 4, after the mainboard issue was booked 201 times. The bidders are now waiting for the company to finalise the share allocation.

Investors who participated in the IPO subscription can check the share allotment status on the NSE, BSE, and the official website of the IPO registrar, Link Intime India.

Steps to check Gala Precision Engineering Ltd IPO share allotment status on BSE

• Open BSE website (https://www.bseindia.com)
• Click on Investor Relations and go to public issues
• Click on Application Status (https://www.bseindia.com/investors/appli_check.aspx)
• Select Gala Precision Engineering Ltd from the list
• Enter PAN details or application number
• Submit to check details

Here’s how to check Gala Precision Engineering Ltd IPO share allotment on registrar website:

• Go to Link Intime India Pvt Ltd website (https://www.linkintime.co.in/)
• Click on Investor Services and select Public Issues
• Select Gala Precision Engineering Ltd
• Enter either your application No, PAN, DP/Client ID or Account No / IFSC
• Submit to check allotment status

The investors can also check the Gala Precision Engineering IPO share allotment status on the NSE website using PAN, application number and bank details.

Gala Precision Engineering Limited IPO details

Gala Precision Engineering IPO was open for subscription from September 2 to September 4. The ₹167.93-crore book-building issue consisted of 26 lakh new shares, worth ₹135.34 crore, and an offer for sale of 6 lakh shares, amounting to ₹32.59 crore.

The company fixed the IPO price band at ₹503 to ₹529 per share. The minimum lot size was 28 shares. The minimum amount of investment was ₹14,812 for retail investors.

At the close of bidding on Wednesday, the Gala Precision Engineering IPO was subscribed more than 201 times. Applications for more than 44.79 crore shares were received compared to the 22.23 lakh shares offered for bidding.

The non-Institutional Investors’ (NIIs) portion was booked 414.62 times. Bids for 19.7 crore shares were received against 4.75 lakh shares reserved for NIIs.

The retail portion of the IPO was booked 91.95 times, with applications for 10.19 crore shares against 11.09 lakh shares on offer.

The Qualified Institutional Buyers (QIBs) placed bids for 14.73 crore shares against 6.33 lakh shares on offer, leading to a subscription of 232.54 times.

About Gala Precision Engineering

Gala Precision Engineering plans to use the IPO proceeds to set up a new manufacturing facility at Sriperumbudur in Tamil Nadu. It also plans to use the funds for capital expenditures, including the purchase of equipment, plants, and machinery in Maharashtra. The company will also use the funds to repay and prepay borrowings.

Gala Precision Engineering manufactures precision components such as disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS). It supplies products to original equipment manufacturers (OEMs).