Gala Precision Engineering IPO opens for subscription: Check price band, lot size and other key details

Gala Precision Engineering IPO opened for subscription on Monday, September 2. The initial public offering, which will close on September 4, has set a price band of ₹503-₹529 per equity share.

The ₹167.93-crore IPO consists of a fresh issuance of 25.58 lakh shares worth ₹135.34 crore and an offer-for-sale (OFS) component of 6.16 lakh shares aggregating to ₹32.58 crore by promoter group entities and individual shareholders.

The fresh issue proceeds will be used to establish a new facility in Tamil Nadu for manufacturing high-tensile fasteners and hex bolts, fund capital expenditure requirements, repay debt, and general corporate purposes.

Investors can bid for at least 28 equity equity or one lot worth ₹14,084 and in multiples after that.

The sole booking-running lead manager for the issue is PL Capital Markets Private Limited.

Gala Precision Engineering IPO: Timeline

• Bidding period: September 2 to September 4
• Allotment finalisation: September 5
• Refund initiation: September 6
• Demat transfer: September 6
• Listing: September 9

About Gala Precision Engineering

Gala Precision Engineering is a precision component manufacturer of technical springs. The company's products include coil & spiral springs (CSS), special fastening solution (SFS) and disc & strip springs (DSS).

Its products are used in the renewable energy sector, automobiles, railways, off-highway vehicles, electrical and power equipment, heavy machinery, passenger vehicles, commercial vehicles, and industrial infrastructure.

Apart from domestic sales, the company exports its products worldwide and serves 175 customers across 25 nations, including Denmark, Germany, China, Italy, the USA, Brazil and Switzerland.

Gala Precision Engineering's revenue from operations stood at ₹202.54 crore in the financial year 2023-24, and net profit was ₹22.33 crore.