Gala Precision Engineering IPO
Gala Precision Engineering IPO — date, price band, lot size & details 2024
Gala Precision Engineering listed on 9 Sep 2024 at ₹721.1, 36.3% above the ₹529 issue price.
Gala Precision Engineering makes technical springs such as disc and strip springs, coil and spiral springs, and special fastening solutions for OEMs. Its total income was Rs 204.38 crore in FY2024.
Stock price
Gala Precision Engineering is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 02 Sep 2024
- Close 04 Sep 2024
- Allotment 05 Sep 2024
- Refund/credit 06 Sep 2024
- Listing 09 Sep 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 2 to 4 Sep, 2024 |
|---|---|
| Price Band | ₹503 – ₹529 |
| Face Value | ₹10 |
| Lot Size | 28 Shares |
| Issue Size | ₹167.93 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,812 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 28 shares at the ₹529 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 28 | ₹14,812 |
| Retail (max) | 13 | 364 | ₹1,92,556 |
| S-HNI (min) | 14 | 392 | ₹2,07,368 |
| S-HNI (max) | 67 | 1,876 | ₹9,92,404 |
| B-HNI (min) | 68 | 1,904 | ₹10,07,216 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 147.96 crore in FY2022 to Rs 204.38 crore in FY2024.
- 02The pre-issue P/E was 23.95 at the upper band of Rs 529, based on EPS of Rs 22.09.
- 03Rs 135.34 crore of the issue was fresh capital for a new plant and debt repayment.
- 04The source puts the PAT margin at 11.89% and return on net worth at 21.38%.
- 05Net worth grew from Rs 59.32 crore on 31 March 2022 to Rs 104.45 crore on 31 March 2024.
Risks · 5
- 01Profit after tax fell from Rs 24.21 crore in FY2023 to Rs 22.33 crore in FY2024.
- 02Demand from wind energy and industrial customers can be cyclical, and the company is small, with assets of Rs 188.69 crore.
- 03Total borrowing was Rs 55.03 crore on 31 March 2024, and the source puts debt to equity at 0.53.
- 04The new Tamil Nadu plant needs Rs 37.00 crore and carries project risk.
- 05Promoters and the promoter group held 74.56% before the issue and 55.4% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Gala Precision Engineering offer document.
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 188.69 | 170.39 | 145.62 |
| Total Income | 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 | 58.60 | 56.89 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Gala Precision Engineering RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Gala Precision Engineering IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹22.09 | ₹17.63 |
| P/E Ratio (x) | 23.95 | 30.01 |
| Market Cap at Offer Price (₹ Cr) | ₹534.75 | ₹670.03 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹529 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹121.41 Cr of the issue is earmarked to named objects.
Gala Precision Engineering IPO Anchor Investors
8 anchor investors across 5 fund houses committed ₹50.28 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Nav Capital Vcc - Nav Capital Emerging Star Fund | Nav Capital | 94,528 | 5.00 | 9.94% |
| Negen Undiscovered Value Fund | Negen | 288,890 | 15.28 | 30.39% |
| Cognizant Capital Dynamic Opportunities Fund | Cognizant | 94,528 | 5.00 | 9.94% |
| India Emerging Giants Fund Limited | - | 94,528 | 5.00 | 9.94% |
| Finavenue Capital Trust - Finavenue Growth Fund | Finavenue | 94,528 | 5.00 | 9.94% |
| Chhatisgarh Investments Ltd. | - | 94,528 | 5.00 | 9.94% |
| Gagandeep Credit Capital Private Limited | - | 94,528 | 5.00 | 9.94% |
| Resonance Opportunities Fund | - | 94,528 | 5.00 | 9.94% |
| Total anchor allocation | 50.28 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
Its products include disc and strip springs including wedge lock washers, coil and spiral springs, and special fastening solutions, supplied to OEMs, Tier 1 suppliers and channel partners.
They are used in renewable energy such as wind turbines and hydro power, and in industrial sectors such as electrical, off-highway equipment and infrastructure. Its promoters are Kirit Vishanji Gala and Smeet Kirit Gala.
The IPO was Rs 167.93 crore, with Rs 135.34 crore of fresh issue and Rs 32.59 crore of offer for sale by promoter group members and others. Rs 37.00 crore was planned for a new fastener plant near Sriperumbudur, Tamil Nadu, and Rs 45.43 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Gala Precision Engineering IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
PL Capital Markets Pvt. Ltd
2 issues handled2 of their issues have listed so far, and 0 opened above the issue price (average -6.5%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Gala Precision Engineering?
The current Grey Market Premium is ₹240, or 45% over the issue price.
What is the Gala Precision Engineering IPO price band?
₹503 to ₹529, on a face value of ₹10.
When is the allotment?
The basis of allotment is 5 September 2024, with listing on 9 September 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
