Gallantt Ispat IPO
Gallantt Ispat IPO — date, price band, lot size & details 2010
Gallantt Ispat listed on 11 Oct 2010 at ₹52, 4% above the ₹50 issue price.
Gallantt Ispat makes sponge iron, mild steel billets, re rolled products such as TMT bars, and wheat flour products. Its total income was Rs 130.04 crore in FY2010.
Stock price
Gallantt Ispat 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 13 November.
- Open 22 Sep 2010
- Close 24 Sep 2010
- Allotment 05 Oct 2010
- Refund/credit TBA
- Listing 11 Oct 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 22 to 24 Sep, 2010 |
|---|---|
| Price Band | TBA |
| Face Value | ₹10 |
| Lot Size | 125 Shares |
| Issue Size | ₹40.5 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Niche Technologies Pvt.Ltd. |
| Min Investment | ₹ 6,250 |
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 125 shares at the ₹50 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 125 | ₹6,250 |
| Retail (max) | 32 | 4,000 | ₹2,00,000 |
| S-HNI (min) | 33 | 4,125 | ₹2,06,250 |
| S-HNI (max) | 160 | 20,000 | ₹10,00,000 |
| B-HNI (min) | 161 | 20,125 | ₹10,06,250 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 3.25 crore in FY2009 to Rs 130.04 crore in FY2010 as its plants started.
- 02Its Gorakhpur projects included a captive power plant budgeted at Rs 68.24 crore, which can cut energy costs.
- 03It covers several steps from sponge iron to billets and TMT bars, with total assets of Rs 198.90 crore.
- 04Net worth was Rs 96.56 crore in FY2010.
Risks · 5
- 01Total borrowing rose from Rs 15.49 crore in FY2009 to Rs 85.18 crore in FY2010.
- 02Its operating record was very short, with income of only Rs 3.25 crore in FY2009.
- 03Steel products are cyclical commodities, and the flour mill, budgeted at Rs 24.22 crore, is unrelated to steel.
- 04The issue was small at Rs 40.5 crore against large project plans at Gorakhpur.
- 05Promoter holding fell from 92.77% before the issue to 69.93% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Gallantt Ispat offer document.
| Metric | 31 Mar 2010 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|
| Assets | 198.90 | 126.57 | 66.29 |
| Total Income | 130.04 | 3.25 | 0.00 |
| NET Worth | 96.56 | 101.26 | 57.45 |
| Reserves and Surplus | 82.92 | 82.92 | 39.35 |
| Total Borrowing | 85.18 | 15.49 | 0.00 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹308.42 Cr of the issue is earmarked to named objects.
About the company
It makes and sells sponge iron, mild steel billets and re rolled products such as TMT bars and mild steel structurals, and also makes wheat flour products.
Its projects at Gorakhpur in Uttar Pradesh covered sponge iron, billets, re rolled products, a captive power plant and a flour mill.
The IPO was Rs 40.5 crore at Rs 50 per share.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
033-22806616/22806617/22806618
The bankers & the filings
Who is running the book, and the documents this page is built from.
Gallantt Ispat 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.
Anand Rathi Advisors Ltd
30 issues handledBest listing: Paras Defence & Space Technologies (+168.0%). Weakest: Aanjaneya Lifecare (-6.8%).
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 Gallantt Ispat?
The current Grey Market Premium is ₹0.
What is the Gallantt Ispat IPO price band?
₹50, on a face value of ₹10.
When is the allotment?
The basis of allotment is 5 October 2010, with listing on 11 October 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Niche Technologies Pvt.Ltd..
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.
