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Gala Precision Engineering IPO is a book built issue of Rs 167.93 crores. The issue is a combination of fresh issue of 0.26 crore shares aggregating to Rs 135.34 crores and offer for sale of 0.06 crore shares aggregating to Rs 32.59 crores.
Gala Precision Engineering IPO opens for subscription on September 2, 2024 and closes on September 4, 2024. The allotment for the Gala Precision Engineering IPO is expected to be finalized on Thursday, September 5, 2024. Gala Precision Engineering IPO will list on BSE, NSE with tentative listing date fixed as Monday, September 9, 2024.
Gala Precision Engineering IPO price band is set at ₹503 to ₹529 per share. The minimum lot size for an application is 28 Shares. The minimum amount of investment required by retail investors is ₹14,812. The minimum lot size investment for sNII is 14 lots (392 shares), amounting to ₹207,368, and for bNII, it is 68 lots (1,904 shares), amounting to ₹1,007,216.
PL Capital Markets Private Limited is the book running lead manager of the Gala Precision Engineering IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Gala Precision Engineering IPO RHP for detailed information.
| IPO Date | September 2, 2024 to September 4, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹503 to ₹529 per share |
| Lot Size | 28 Shares |
| Total Issue Size | 3,174,416 shares (aggregating up to ₹167.93 Cr) |
| Fresh Issue | 2,558,416 shares (aggregating up to ₹135.34 Cr) |
| Offer for Sale | 616,000 shares of ₹10 (aggregating up to ₹32.59 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 10,111,584 |
| Share holding post issue | 12,670,000 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.03% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
Gala Precision Engineering IPO raises Rs 50.29 crore from anchor investors. Gala Precision Engineering IPO Anchor bid date is August 30, 2024. Gala Precision Engineering IPO Anchor Investors list
| Bid Date | August 30, 2024 |
| Shares Offered | 950,586 |
| Anchor Portion Size (In Cr.) | 50.29 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 4, 2024 |
Gala Precision Engineering IPO opens on September 2, 2024, and closes on September 4, 2024.
| IPO Open Date | Monday, September 2, 2024 |
| IPO Close Date | Wednesday, September 4, 2024 |
| Basis of Allotment | Thursday, September 5, 2024 |
| Initiation of Refunds | Friday, September 6, 2024 |
| Credit of Shares to Demat | Friday, September 6, 2024 |
| Listing Date | Monday, September 9, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 4, 2024 |
Investors can bid for a minimum of 28 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | ₹14,812 |
| Retail (Max) | 13 | 364 | ₹192,556 |
| S-HNI (Min) | 14 | 392 | ₹207,368 |
| S-HNI (Max) | 67 | 1,876 | ₹992,404 |
| B-HNI (Min) | 68 | 1,904 | ₹1,007,216 |
| Lot Size Calculator | |||
The promoters of the company are Kirit Vishanji Gala and Smeet Kirit Gala.
| Share Holding Pre Issue | 74.56% |
| Share Holding Post Issue |
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.
Gala Precision Engineering Limited's revenue increased by 22% and profit after tax (PAT) dropped by -8% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 188.69 | 170.39 | 145.62 | |||||||||||||||||||||||||||
| Revenue | 204.38 | 167.08 | 147.96 | |||||||||||||||||||||||||||
| Profit After Tax | 22.33 | 24.21 | 6.63 | |||||||||||||||||||||||||||
| Net Worth | 104.45 | 83.66 | 59.32 | |||||||||||||||||||||||||||
| Reserves and Surplus | 94.67 | 81.13 | 56.79 | |||||||||||||||||||||||||||
| Total Borrowing | 55.03 | 58.6 | 56.89 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
The market capitalization of Gala Precision Engineering IPO is Rs 670.24 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 23.59% |
| ROCE | 19.91% |
| Debt/Equity | 0.53 |
| RoNW | 21.38% |
| P/BV | 5.12 |
| PAT Margin (%) | 11.89 |
| 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 towards funding the following objects:
[Dilip Davda] The company is in the business of manufacturing precision components having specialization in technical springs. It has posted growth in its top and bottom lines for the reported periods. Higher net for FY23 is attributed to exception items. Based on FY24 earnings, the issue relatively appears fully priced. Investors may park funds for medium to long term. Read detail review...
Gala Precision Engineering Limited
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/
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 is a main-board IPO of 3,174,416 equity shares of the face value of ₹10 aggregating up to ₹167.93 Crores. The issue is priced at ₹503 to ₹529 per share. The minimum order quantity is 28 Shares.
The IPO opens on September 2, 2024, and closes on September 4, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Gala Precision Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Gala Precision Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Gala Precision Engineering IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Gala Precision Engineering IPO opens on September 2, 2024 and closes on September 4, 2024.
Gala Precision Engineering IPO lot size is 28 Shares, and the minimum amount required is ₹14,812.
You can apply in Gala Precision Engineering IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Gala Precision Engineering IPO will be done on Thursday, September 5, 2024, and the allotted shares will be credited to your demat account by Friday, September 6, 2024. Check the Gala Precision Engineering IPO allotment status.
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