| IPO Date | September 2, 2024 to September 4, 2024 |
| Listing Date | September 9, 2024 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 503 to ₹ 529 / Share |
| Lot Size | 28 Shares |
| Total Issue Size | 31,74,416 (Aggregating up to ₹168 Cr) |
| Fresh Issue | 25,58,416 (Aggregating up to ₹135 Cr) |
| Offer for Sale | 6,16,000 (Aggregating up to ₹33 Cr) |
| Employee Discount | |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 1,01,11,584 shares |
| Share holding post issue | 1,26,70,000 shares |
| Market Maker portion |
Gala Precision Engineering IPO opens on September 2, 2024, and closes on September 4, 2024.
| IPO Open Date | September 2, 2024 |
| IPO Close Date | September 4, 2024 |
| Basis of Allotment | September 5, 2024 |
| Initiation of Refunds | September 6, 2024 |
| Credit of Shares to Demat | September 6, 2024 |
| Listing Date | September 9, 2024 |
| Cut-off time for UPI mandate confirmation | -- |
Investors can bid for a minimum of 28 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | Rs.14,812 |
| Retail (Max) | 13 | 364 | Rs.192,556 |
| S-HNI (Min) | 14 | 392 | Rs.207,368 |
| S-HNI (Max) | 67 | 1,876 | Rs.992,404 |
| B-HNI (Min) | 68 | 1,904 | Rs.1,007,216 |
| HNI (Min) |
| Share Holding Pre Issue | |
| Share Holding Post Issue |
Gala Precision Engineering IPO comprises a total issue size of 31,74,416 shares. The net offer to the public is 31,68,620 shares, after excluding 5,796 shares under a preferential allotment. Of the Net offer 15,84,310 (50.00%) are allocated to QIB, 4,75,293 (15.00%) allocated to NII 11,09,017 (35.00%) allocated to RII.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 9,50,586 |
NA |
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | 15,84,310 50.00% |
NA |
| NII (HNI) Shares Offered | 4,75,293 14.97% |
NA |
| bNII > ₹10L | 3,16,862 9.98% |
808 |
| sNII < ₹10L | 1,58,431 4.99% |
404 |
| Retail Shares Offered | 11,09,017 35.00% |
39,607 |
| Employee Shares Offered | 5,796 0.18% |
NA |
| Total Shares Offered | 31,74,416 100.00% |
Gala Precision Engineering IPO raises ₹50.29 crore from anchor investors. Gala Precision Engineering IPO Anchor bid date is August 30, 2024.
| Bid Date | 2024-07-30 |
| Shares Offered | 9,50,586 |
| Anchor Portion Size (In Cr.) | 50.29 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 4, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 3, 2024 |
Incorporated in February 2009, 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.
As of June 30, 2024, the company has 294 permanent employees and 390 contract employees. The permanent workforce includes 182 manufacturing workers, 19 employees for stores and logistics, 19 employees for quality assurance, 14 employees for tool room development and maintenance, and 22 employees for human resources and administration.
| KPI | Values |
|---|---|
| ROE | 23.59% |
| ROCE | 19.91% |
| Debt/Equity | 0.53 |
| RoNW | 21.38% |
| P/BV | 11.89% |
| PAT Margin (%) | 5.12 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 22.09 | 17.63 |
| P/E (x) | 23.95 | 30.01 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Gala Precision Engineering Ltd. Address A-801, 8th Floor Thane One DIL Complex, Ghodbunder Road Majiwade Thane (West) Thane, Maharashtra, 400610
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