Gallard Steel Limited – IPO
Gallard Steel Limited – IPO Details
| IPO Date | November 19, 2025 to November 21, 2025 |
| Listing Date | November 26, 2025 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 142 to ₹ 150 / Share |
| Lot Size | 1000 Shares |
| Total Issue Size | 25,00,000 shares (Aggregating up to ₹37.50 Cr) |
| Fresh Issue | |
| Offer for Sale | |
| Employee Discount | |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share holding pre issue | 70,00,000 shares |
| Share holding post issue | 95,00,000 shares |
| Market Maker portion |
Gallard Steel Limited Timeline (Tentative Schedule)
Gallard Steel Limited IPO opens on November 19, 2025, and closes on November 21, 2025.
| IPO Open Date | November 19, 2025 |
| IPO Close Date | November 21, 2025 |
| Basis of Allotment | November 24, 2025 |
| Initiation of Refunds | November 25, 2025 |
| Credit of Shares to Demat | November 25, 2025 |
| Listing Date | November 26, 2025 |
| Cut-off time for UPI mandate confirmation | November 21, 2025 |
Gallard Steel Limited IPO Lot Size
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | Rs.300,000 |
| Retail (Max) | 2 | 2,000 | Rs.300,000 |
| S-HNI (Min) | 3 | 3,000 | Rs.450,000 |
| S-HNI (Max) | 6 | 6,000 | Rs.900,000 |
| B-HNI (Min) | 7 | 7,000 | Rs.1,050,000 |
| HNI (Min) |
Gallard Steel Limited IPO Promoter Holding
| Share Holding Pre Issue | 91.14% |
| Share Holding Post Issue |
Gallard Steel Limited IPO Reservation
Gallard Steel IPO offers total 25,00,000 shares. Out of which 11,83,000 (47.32%) allocated to QIB, 4,74,000 (18.96%) allocated to QIB (Ex- Anchor), 3,60,000 (14.40%) allocated to NII, 8,32,000 (33.28%) allocated to RII, and 7,09,000 (28.36%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | 1,25,000 (5.00%) |
|
| Other Shares Offered | |
|
| QIB Shares Offered | 11,83,000 (47.32%) |
|
| NII (HNI) Shares Offered | 3,60,000 (14.40%) |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | 8,32,000 (33.28%) |
|
| Employee Shares Offered | |
|
| Total Shares Offered | 25,00,000 (100.00%) |
Gallard Steel Limited IPO Anchor Investors Details
Gallard Steel IPO raises ₹10.64 crore from anchor investors. Gallard Steel IPO Anchor bid date is November 18, 2025.
| Bid Date | 2025-11-18 |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | 10.64 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 24, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 22, 2026 |
About Gallard Steel Limited
Incorporated in 2015, Gallard Steel Limited is engaged in the manufacturing of engineered steel castings, including mild steel, SGCI, and low alloy castings.
The company manufactures ready-to-use components, assemblies, and subassemblies for Indian Railways, the defence sector, power generation, and allied industries, providing high-quality solutions across various sectors.
Manufacturing operations are carried out at the foundry, located in Pithampur, Dhar, Madhya Pradesh, spanning a land area of 12,195 square meters and certified to ISO 9001:2015. The company utilises a range of in-house machinery and equipment to support processes such as melting, heat treatment, grinding, moulding, sand mixing and finishing.
The company supplies components for railway traction motors, defence cradles, power generation guide vanes, and industrial machinery liners, serving sectors such as railways, defence, power generation, and heavy engineering industries.
Products:
- Steel Components: Manufacturing unmachined and machined steel components for various sectors.
- Traction Motor & Bogie Components: Producing components for traction motors and bogie assemblies in railways.
- Defence Components: Manufacturing cradle assemblies, recoiling cylinders, and trunnion housings for defence.
- Thermal and Hydro Turbine Sub-Assemblies: Producing guide vanes, bush housings, and fork systems for turbines.
- Industrial Machinery & Equipment: Supplying high-temperature resistance liners for machinery and industrial equipment.
- Rebonded Foam: Recycled foam used in furniture, mattresses, and industrial products.
Competitive Strengths:
- In-house manufacturing facilities
- Diverse Customer base
- Wide Geographical reach
- Stringent quality control mechanism ensures standardised product quality
Key Performance Indicator
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 43.16% |
| ROCE | 26.59% |
| Debt/Equity | 1.19 |
| RoNW | 35.51% |
| P/BV | 6.15 |
| PAT Margin (%) | 11.38% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.67 | 9.04 |
| P/E (x) | 17.31 | 16.6 |
Note:
- The Pre IPO EPS is calculated based on Pre-IPO shareholding as on the date of RHP and the latest FY earnings as of March 31, 2025, that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025, that is available in RHP.
Objects of the Issue (Gallard Steel Limited IPO Objectives)
Gallard Steel Limited Contact Details
Gallard Steel Ltd. Flat No. 01, Sukhsneh Apartment, 168-M Khatiwala Tank Indore, Madhya Pradesh, 452014 Phone: +91-9644422252 Email: [email protected] Website: https://www.gallardsteel.com/ |
Gallard Steel Limited IPO Registrar
Ankit Consultancy Pvt.Ltd. Phone: 0731 - 491 298 / 492 698 Email: [email protected] Website: |