Gala Precision Engineering was listed at a price of Rs 721.10 on the National Stock Exchange, a premium of 36% to the issue price.
Gala Precision GMP Today
The company’s shares fetched a premium of more than 45% in the grey market, a day ahead of listing. The grey market is an unofficial place where shares trade illegally before listing.
Gala Precision IPO Details
The company opened its IPO on September 02 and stopped taking bids on September 04. The company collected a sum of Rs 167.93 crore, via a combination of fresh shares and an offer for sale. It kept the IPO price band between Rs 503 to Rs 529 per equity share. The allotment of the shares was finalised on September 05.
About Gala Precision
Gala Precision Engineering manufactures precision components such as disc and strip springs, coil and spiral springs, etc., supplying these products to original equipment manufacturers. 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. Also, the company exports its manufactured products to Germany, Denmark, China, and many other countries.
Minimum Investment Required
A retail bidder had to buy at least 28 shares for a value of Rs 14,812. There were different investment requirements for small and big NIIs.
BRLMs and Registrar
PL Capital Markets was the lead book runner of the Gala Precision Engineering IPO, while Link Intime India was the registrar for the issue.