Bookbuilding IPO | ₹168 Cr | Listed at BSE, NSE | Mon, Sep 2, 2024 - Wed, Sep 4, 2024
Gala Precision Engineering IPO is a book build issue of ₹167.93 crores. The issue is a combination of fresh issue of 0.26 crore shares aggregating to ₹135.34 crores and offer for sale of 0.06 crore shares aggregating to ₹32.59 crores.
Gala Precision Engineering IPO bidding started from Sep 2, 2024 and ended on Sep 4, 2024. The allotment for Gala Precision Engineering IPO was finalized on Sep 5, 2024. The shares got listed on BSE, NSE on Sep 9, 2024.
Gala Precision Engineering IPO price band is set at ₹529 per share. The lot size for an application is 28. The minimum amount of investment required by an retail is ₹14,812 (28 shares) (based on upper price). The lot size investment for sNII is 14 lots (392 shares), amounting to ₹2,07,368, and for bNII, it is 68 lots (1,904 shares), amounting to ₹10,07,216.
The issue includes a reservation of up to 5,796 shares for employees offered at a discount of ₹0.00 to the issue price.
PL Capital Markets Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Gala Precision Engineering IPO RHP for detailed Information.
IPO Open
Mon, Sep 2, 2024
IPO Close
Wed, Sep 4, 2024
Issue Price
₹529 per share
Market Cap (Pre-IPO)
₹670.24 Cr
| IPO Date | 2 to 4 Sep, 2024 |
| Listed on | Mon, Sep 9, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹503 to ₹529 |
| Issue Price | ₹529 per share |
| Lot Size | 28 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 31,74,416 shares (agg. up to ₹168 Cr) |
| Fresh Issue | 25,58,416 shares (agg. up to ₹135 Cr) |
| Offer for Sale | 6,16,000 shares of ₹10 (agg. up to ₹33 Cr) |
| Share Holding Pre Issue | 1,01,11,584 shares |
| Share Holding Post Issue | 1,26,70,000 shares |
| BSE Script Code / NSE Symbol | 544244 / GALAPREC |
| ISIN | INE0RE001014 |
Gala Precision Engineering IPO offers total 31,74,416 shares. Out of which 15,84,310 (49.91%) allocated to QIB, 6,33,724 (19.96%) allocated to QIB (Ex- Anchor), 4,75,293 (14.97%) allocated to NII 11,09,017 (34.94%) allocated to RII and 9,50,586 (29.95%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 15,84,310 (49.91%) | NA |
| − Anchor Investor Shares Offered | 9,50,586 (29.95%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 6,33,724 (19.96%) | NA |
| NII (HNI) Shares Offered | 4,75,293 (14.97%) | NA |
| − bNII > ₹10L | 3,16,862 (9.98%) | 808 |
| − sNII < ₹10L | 1,58,431 (4.99%) | 404 |
| Retail Shares Offered | 11,09,017 (34.94%) | 39,607 |
| Employee Shares Offered | 5,796 (0.18%) | NA |
| Total Shares Offered | 31,74,416 (100.00%) |
Investors can bid for a minimum of 28 shares and in multiples thereof.
| 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 |
Gala Precision Engineering IPO raises ₹50.29 crore from anchor investors. Gala Precision Engineering IPO Anchor bid date is August 30, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Aug 30, 2024 |
| Shares Offered | 9,50,586 |
| Anchor Portion (₹ Cr.) | 50.29 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Oct 4, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Dec 3, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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.
| Period Ended | 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 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Setting up a new facility at Vallam-Vadagal, SIPCOT͕Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts; | 37.00 |
| 2 | Funding capital expenditure requirements towards purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra; | 11.07 |
| 3 | Repayment/ prepayment, in full or part, of certain borrowings availed by the Company; and | 45.43 |
| 4 | General corporate purposes | 27.91 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 23.59% |
| ROCE | 19.91% |
| Debt/Equity | 0.53 |
| RoNW | 21.38% |
| PAT Margin | 11.89% |
| Price to Book Value | 5.12 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 22.09 | 17.63 |
| P/E (x) | 23.95 | 30.01 |
| Promoter Holding | 74.56% | 55.4% |
| Market Cap | ₹670.24 Cr. |
The Gala Precision Engineering IPO is subscribed 201.41 times on September 4, 2024 6:19:07 PM (Day 3). The public issue subscribed 91.95 times in the retail category, 232.54 times in the QIB category, and 414.62 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 232.54 | 6,33,724 | 14,73,66,856 |
| NII | 414.62 | 4,75,293 | 19,70,67,584 |
| bNII (bids above ₹10L) | 439.67 | 3,16,862 | 13,93,13,916 |
| sNII (bids below ₹10L) | 364.54 | 1,58,431 | 5,77,53,668 |
| Retail | 91.95 | 11,09,017 | 10,19,70,988 |
| Employee | 258.95 | 5,796 | 15,00,856 |
| Total | 201.41 | 22,23,830 | 44,79,06,284 |
Total Application : 34,44,648
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | a. Book Running Lead Manager's fees | 8.09 |
| 2 | b. Commission/processing fee for SCSBs, Sponsor Bank(s) and Bankers to the Offer. Brokerage, underwriting commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs (3)(4)(5) | 1.74 |
| 3 | c. Fees payable to the Registrar to the Offer | |
| 4 | d. Fees payable to the other advisors to the Offer | 0.15 |
| 5 | e. Statutory Auditors, for issuing the Restated Consolidated Financial Information, for providing the statement of special direct and indirect tax benefits available to our Company and to our Shareholders, and to verify the details and provided certifications with respect to certain information included in the DRHP | 0.21 |
| 6 | f. Independent chartered engineer, in respect of the (i) installed capacity, production and capacity utilization of the manufacturing operations of our Company; | 0.01 |
| 7 | g. Industry Report provider for preparing the industry report, commissioned and paid for by our Company | 0.28 |
| 8 | h. Others | 6.79 |
| 9 | - Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and and other regulatory expenses | 2.90 |
| 10 | - Printing and distribution of issue stationery | 0.54 |
| 11 | - Advertising and marketing expenses | 1.76 |
| 12 | - Fee payable to legal counsels | 1.25 |
| 13 | - Insurance in connection with the Offer | 0.07 |
| 14 | - Miscellaneous | 0.27 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹529.00 | ₹529.00 |
| Open | ₹750.00 | ₹721.10 |
| Low | ₹721.00 | ₹721.10 |
| High | ₹787.45 | ₹757.15 |
| Last Trade | ₹787.05 | ₹757.15 |
Lead Manager Reports
Gala Precision Engineering IPO is a main-board IPO of 31,74,416 equity shares of the face value of ₹10 aggregating up to ₹168 Crores. The issue is priced at ₹529 per share. The minimum order quantity is 28.
The IPO opens on Mon, Sep 2, 2024, and closes on Wed, Sep 4, 2024.
MUFG Intime India Pvt.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 Mon, Sep 2, 2024 and closes on Wed, Sep 4, 2024.
Gala Precision Engineering IPO lot size is 28, and the minimum amount required for application is ₹14,812.
You can apply in Gala Precision Engineering IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Fri, Sep 6, 2024. Check the Gala Precision Engineering IPO allotment status.
The Gala Precision Engineering IPO listing date is on Mon, Sep 9, 2024.
