IPO

Gala Precision Engineering Limited IPO

Mainboard

Industrial Products

Listed On: Sep 9, 2024 at ₹ 721.1(NSE)

₹ 14812 /28 Shares

Check Allotment

Price Summary

Last Closing

695.25 (31.43%)

52 Week High

774.00

52 Week Low

682.00

Last Update

18-Sep-2024 3:30 PM

Gala Precision Engineering IPO Details

02 Sep, 2024

Open Date

04 Sep, 2024

Close Date

05 Sep, 2024

Allotment Date

09 Sep, 2024

Listing Date

Issue Price

₹503-529 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

721.1(NSE)

Listing Date

2024-09-09

Market Lot

Retail : 28 Shares (₹14,812/-)
S-HNI : 392 Shares (₹2,07,368/-)
B-HNI : 1,904 Shares (₹10,07,216/-)

Lead Manager

Pl Capital Markets Private Limited

Issue Size

Total ₹167.93 Cr :
#Fresh Issue : 2,558,416 shares(aggregating up to ₹135.34 Cr) +
#OFS : 616,000 shares of ₹10(aggregating up to ₹32.59 Cr)

Retail Portion

35% (Number of Retail Applications: 39,680 Approx),
(Number of S-HNI Applications : 405 Approx),
(Number of B-HNI Applications : 810 Approx)

Subscription

201.39 times

IPO Docs

DRHP RHP ANCHOR

Gala Precision Engineering IPO Subscription Details

As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved633,724475,293
316,862    158,431		1,109,0172,223,830
Day 1 - 02-09-24 05:00 PM0.86 x20.52
16.13 x   29.30 x		11.99 x10.71 x
Day 2 - 03-09-24 05:00 PM5.06 x132.93
128.28 x   142.24 x		44.21 x52.21 x
Day 3 - 04-09-24 05:00 PM232.54 x414.60
439.67 x   364.47 x		91.91 x201.39 x
Total No. of Applications: 34,44,648 (Approx)
Retail Subscription on the basis of Applications: Retail:80.56x BHNI:85.82x SHNI:345.96x times

Gala Precision Engineering Valuations

EPS Pre IPO

₹22.09/-

EPS Post IPO

₹17.63/-

P/E Pre IPO

23.95

P/E Post IPO

30.01

RoNW

21.38%

Gala Precision Engineering Company Financials All values are in ₹ Cr.

31-Mar-2431-Mar-2331-Mar-22
Assets188.69170.39145.62
Revenue204.38167.08147.96
Profit After Tax22.3324.216.63

About The Company

Gala Precision Engineering Limited is a manufacturer of precision components such as disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS). The company supplies these products to original equipment manufacturers (OEMs).

The company's products are used in sectors such as electrical, off-highway equipment, infrastructure, and general engineering, as well as in mobility segments such as automotive and railway.

The company has supplied its technical springs and high tensile fasteners to customers in several countries including Germany, Denmark, China, Italy, Brazil, USA, Sweden, and Switzerland, making it a crucial link in the global supply chain for OEMs.

The company's business primarily comprises of two divisions:
(i) the Springs Technology Division manufactures DSS, including Wedge Lock Washers (WLW) and CSS,
(ii) SFS, producing anchor bolts, studs, and nuts.

As of March 30, 2024, the company has more than 175 customers in 25 plus countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden and Switzerland.

The company has two manufacturing facilities in Wada District, Palghar, Maharashtra, with capabilities to design, develop, and manufacture a diverse product portfolio. Additionally, a new manufacturing facility is being set up in Vallam-Vadagal, SIPCOT, Sriperumbudur, Tamil Nadu, focusing on developing high tensile fasteners to expand the product portfolio with new products like bolts.

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Gala Precision Engineering - Strength and Weakness

Strength

Extensive global presence, exporting to over 25 countries with 175+ clients.

Strong market share: 10% in the Indian disc springs market.

In-house design and development capabilities for 200+ precision products.

Weakness

High dependency on spring technology for 80.11% of revenue.

Labour issues could disrupt operations; 294 permanent employees.

Loss of key customers could impact 32.46% of revenue.

Gala Precision Engineering - Promoter(s)

Pre Issue Share Holding: 74.56%

Post Issue Share Holding: N/A%

Company Promoter(s)

  1. Kirit Vishanji Gala
  2. Kirit Vishanji Gala

Gala Precision Engineering IPO - Issue Objectives

  1. Setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts
  2. Funding capital expenditure requirements towards purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra
  3. Repayment/ prepayment, in full or part, of certain borrowings availed by the company
  4. General corporate purposes.

Gala Precision Engineering IPO - Anchor Investors

Gala Precision Engineering mops up over Rs 50 cr from anchor investors.

Negen Undiscovered Value Fund is the biggest investor amongst them, buying 2.88 lakh shares worth Rs 15.28 crore.

Other seven institutional investors - NAV Capital Emerging Star Fund, Cognizant Capital Dynamic Opportunities Fund, India Emerging Giants Fund, Finavenue Growth Fund, Chhatisgarh Investments, Gagandeep Credit Capital, and Resonance Opportunities Fund - bought 94,528 equity shares each, which are worth little more than Rs 5 crore each

Other Details

Company Contact Details

Gala Precision Engineering

A-801, 8th Floor, Thane One DIL Complex, Ghodbunder Road Majiwade, Thane (West)-400610

Phone: +91 22-6930 9224

Email: investor.relations@galagroup.com

Website: https://www.galagroup.com/

Registrar Contact Details

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: galaprecision.ipo@linkintime.co.in

Website: https://linkintime.co.in/initial_offer/public-issues.html

Gala Precision Engineering IPO - FAQs

Ans. Gala Precision Engineering Limited IPO is a Mainboard IPO. The issue is priced at ₹503-529 per equity share. The minimum order quantity is 28 Shares. The IPO opens on Sep 2, 2024, and closes on Sep 4, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Gala Precision Engineering Limited IPO opens on Sep 2, 2024 and closes on Sep 4, 2024.

Ans. The size of Gala Precision Engineering Limited IPO is Total ₹167.93 Cr : #Fresh Issue : 2,558,416 shares(aggregating up to ₹135.34 Cr) + #OFS : 616,000 shares of ₹10(aggregating up to ₹32.59 Cr).

Ans. The IPO price band is set between ₹503-529 per equity share.

Ans. To apply for Gala Precision Engineering Limited IPO IPO, follow the steps given below:

  • - Open the IPO Ji App or Website
  • - Find Gala Precision Engineering Limited IPO in the List of IPOs
  • - Press "Apply" Button
  • - Select Your Demat Account
  • - Select Your Shares Quantity and Submit
  • - Track Your IPO Status

Ans. The share allotment date of Gala Precision Engineering Limited IPO is Sep 5, 2024.

Ans. The Gala Precision Engineering Limited IPO will be listed on Sep 9, 2024.

Ans. Follow the steps to check the allotment status for Gala Precision Engineering Limited IPO here.