Gala Precision Engineering IPO Opens: Price Band, Lot Size, and Key Details
Gala Precision Engineering IPO: The funds raised through the public offering will be used to set up a new facility in Tamil Nadu for the construction of high-tensile fasteners and hex bolts, fund capital spending needs, repaying debt, and general corporate needs.
Gala Precision Engineering IPO: Gala Precision Engineering has finally opened for public subscription today, September 2, and will continue till September 4 at a set price range of Rs 503 to Rs 529 per share.
Gala Precision Engineering IPO consists of a fresh issue of 25.58 lakh shares worth Rs 135.34 crore. The total worth of the Gala Precision Engineering IPO is Rs 167.93 crore.
The company’s IPO also includes OFS issue of 6.16 lakh shares collecting a total amount of Rs 32.58 crore by the promoter group and individual holders.
The funds raised through the public offering will be used to set up a new facility in Tamil Nadu for the construction of high-tensile fasteners and hex bolts, fund capital spending needs, repaying debt, and general corporate needs.
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The minimum lot size that investors can bid for is at least 28 equity shares, an investment of Rs 14,084.
PL Capital Markets Private Limited is the book-running lead manager for the issue.
The Gala Precision Engineering IPO allotment status will be finalized on September 5 while the refund and demat transfer will be initiated on September 6.
The Gala Precision Engineering IPO will be listed on BSE, and NSE on September 9.
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Gala Precision Engineering creates technology springs and other precision parts. The company’s products feature special fastening solution (SFS), coil and spiral springs (CSS), and disc and strip springs (DSS).
The company’s products are used in off-road vehicles, electrical and power tools, heavy machinery, passenger vehicles, commercial vehicles, the renewable energy industry, and in industrial infrastructure.
The company also sells its products to 25 countries such as Denmark, Germany, China, Italy, the United States, Brazil, and Switzerland where it serves 175 customers.
In FY24, the company made a revenue of Rs 202.54 crore and it’s net profit stood at Rs 22.33 crore.
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