Gala Precision Engineering Ltd. was incorporated on February 23, 2009. The company is a precision component manufacturer specializing in technical springs such as disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS). These products are supplied to original equipment manufacturers (OEMs), Tier 1 suppliers, and channel partners.
| Bidding Dates |
|---|
| 02 Sep 2024 - 04 Sep 2024 |
| Subscription |
|---|
| 201.41x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,084 | 1 | 13 | 28 | 3.2 M | ₹503 - ₹529 | 55.44 % | ₹1596.7 M - ₹1679.3 M | RHP DOC |
Gala Precision IPO SUBSCRIPTION STATUS
04 Sep '24Gala Precision IPO overall subscription rate was 201.41 times the total available shares
Gala Precision IPO retail subscription rate was 91.95 times in the retail segment
Gala Precision IPO non-institutional investor subscription rate was 414.62 times in the non-institutional investor category
Gala Precision IPO Qualified Institutional Bidder subscription rate was 232.54 times the available shares for Qualified Institutional Bidder
Gala Precision IPO Employees subscription rate was 259 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
04 Sep 2024 (Day 3) | 91.95x | 414.62x | 232.54x | 259x |
03 Sep 2024 (Day 2) | 44.21x | 132.93x | 5.06x | 117.89x |
02 Sep 2024 (Day 1) | 12.17x | 20.72x | 0.86x | 38.33x |
Gala Precision FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 223.3 | 2,025.5 | 156.5 | 50.6 | 19.9% |
| FY23 | 242.1 | 1,654.7 | 160.2 | 68.1 | 17.3% |
| FY22 | 66.3 | 1,452.8 | 115.9 | 48.2 | 15.1% |
Gala Precision IPO SUBSCRIPTION STATUS DETAILS
Gala Precision had 3.2 M shares on offer
Gala Precision IPO offer price was in the range ₹503 - ₹529
Gala Precision IPO minimum Investment was ₹14084
Gala Precision IPO issue size was ₹ 1596.7 M - ₹ 1679.3 M
Gala Precision had a minimum lot size of 28 Shares per application
Gala Precision NUMBER OF SHARES ON OFFER
Gala Precision IPO IMPORTANT DATES
| Issue Open Date | 02 Sep 2024 |
| Issue close Date | 04 Sep 2024 |
| Allotment Date | 05 Sep 2024 |
| Refund Date | 06 Sep 2024 |
| Demat Account Credit Date | 06 Sep 2024 |
| Listing Date | 09 Sep 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Gala Precision Allotment Status | Exchange |
Gala Precision IPO subscription opened on 02 Sep 2024, and closed on 04 Sep 2024
IPO allotment for Gala Precision was finalized on Thursday, 05 Sep 2024
IPO listing for Gala Precision was on NSE and BSE on Monday, 09 Sep 2024
Gala Precision IPO LISTING GAINS
| Issue Price (adjusted) | 529.0 |
| Listing Open Price | 721.1 |
| Listing Close Price | 757.1 |
| Listing Gain% | 36.3% |
| Current Gain% | 95.9% |
Gala Precision Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gala Precision Engineering Ltd. | 1036.4 | 1313.1 | 35.8 | 1 | 4.1 | 12.1 | 9.5 | 319.9 | 32.1 | 35.5 | 32.2 | 29 | 37.2 |
| Esab India Ltd. | 5631.5 | 8668.6 | 41.9 | 2.4 | 5.7 | 48.1 | 29.6 | 1514.2 | 9.6 | 206.7 | 17.8 | 134.3 | 17.8 |
| Shivalik Bimetal Controls Ltd. | 920.9 | 5304.8 | 50 | 1.7 | 8.6 | 19.9 | 15.1 | 583.1 | 11.9 | 95.9 | 24.4 | 18.4 | 29.3 |
| Ador Welding Ltd. | 1483.4 | 2581.5 | 22.7 | 0.1 | 2.2 | 14.8 | 9.8 | 1158.2 | 1.5 | 82 | 36.5 | 65.2 | 213.2 |
| Diffusion Engineers Ltd. | 441 | 1650.5 | 32.8 | 0.8 | 4.1 | 12.4 | 9.8 | 421.6 | 22.4 | 50.3 | 40.1 | 13.4 | 40.1 |
| Foseco Crucible (India) Ltd. | 1567 | 877.5 | 37.8 | -4.4 | 4.9 | 13.4 | 11.1 | 183 | 0.5 | 18.7 | -32 | 41.5 | -8.6 |
Gala Precision IPO Reports
Gala Precision INFORMATION ON IPO ISSUE
About Gala Precision
Gala Precision Engineering Ltd. was incorporated on February 23, 2009. The company is a precision component manufacturer specializing in technical springs such as disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS). These products are supplied to original equipment manufacturers (OEMs), Tier 1 suppliers, and channel partners.
Object of the Issue
- Setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts
- Funding capital expenditure requirements towards the purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra
- Repayment/ prepayment, in full or part, of certain borrowings availed by the company
- General corporate purposes
Gala Precision - PROMOTERS
| Name |
|---|
| Kirit Vishanji Gala |
| Smeet Kirit Gala |
Gala Precision Book Running Lead Manager
PL Capital Markets Private Limited
galaprecisionipo@plindia.com
Gala Precision Registrar to the Offer
Link Intime India Private Limited
galaprecision.ipo@linkintime.co.in
Gala Precision Strengths
Product customization
The company's diverse product range and wide applications have enabled it to build a broad customer base across various geographies and industries. The company can develop tailored products and solutions to meet customer specifications, allowing cross-selling opportunities and increased wallet share.
Customer relationship
The company's diverse product portfolio serves a wide range of customers, having catered to over 175 clients across 25 countries. Strong customer relationships are built on high-quality products, reliable supply, collaborative development, and adherence to international standards.
Gala Precision Risks
Legal proceeding
The company is involved in significant civil litigations concerning a patent infringement suit. An adverse outcome in this case could negatively impact the company's business and financial condition
Dependent of one segment
The company's revenue heavily relies on the springs technology segment, which contributed 80.1% of revenue in FY24. Any downturn in this segment could adversely affect the company's business, operations, and financial condition.
Dependent on third-party transporters
The company depends on third-party transportation for the delivery of raw materials and finished products. Any disruption in their operations or a decline in service quality could negatively impact the company's business.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 32.6 crore, of 616,000 shares. It also consists of a fresh issue of Rs 135.3 crore.
The promoters of the company are Kirit Vishanji Gala and Smeet Kirit Gala.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 503.0 - 529.0.
The IPO application opens on Sep 02, 2024 and closes on Sep 04, 2024.
The minimum lot size for the IPO is 28. The maximum lot size for the IPO is 364.
For all category investors, the minimum application amount for this IPO is Rs. 14,084.0, the maximum value for this IPO is Rs 192,556.0.
This IPO will be allotted on Sep 05, 2024.
The refund will be credited to your account on Sep 06, 2024.
The allotted shares will be credited to your demat on Sep 06, 2024.
Gala Precision Engineering Ltd.’s shares listed on the stock exchanges on Sep 09, 2024.