Gala Precision Engineering IPO to open on September 2: All you need to know

The initial public offering (IPO) of precision components maker Gala Precision Engineering will launch on September 2. The issue, which will conclude on September 4, has fixed a price band of ₹503-₹529 per equity share.

The ₹168-crore IPO consists of a fresh issuance of 25.58 lakh shares valued at ₹135.34 crore and an offer for sale component of 6.16 lakh shares worth ₹32.58 crore by selling shareholders.

The fresh IPO proceeds will be used to establish a new facility in Tamil Nadu for manufacturing high-tensile fasteners and hex bolts, buy equipment, plant, and machinery in Maharashtra, repay debt, and for general corporate purposes.

Investors can bid for at least 28 shares and in multiples after that.

PL Capital Markets Private Limited is the book-running lead manager to the issue. The equity shares are proposed to be listed on BSE and NSE.

About Gala Precision Engineering

Gala Precision Engineering manufactures precision components for technical springs such as disc and strip springs (DSS), special fastening solutions (SFS), and coil and spiral springs (CSS).

The company's products are supplied to original equipment manufacturers (OEMs), Tier 1, and channel partners and are used in sectors like renewable energy, including wind turbines and hydropower plants, various industrial sectors such as electrical, off-highway equipment, infrastructure and general engineering, and mobility segments such as automotive and railways.

Revenue from operations stood at ₹202.54 crore in the financial year 2023-24 and net profit stood at ₹22.33 crore.