Gala Precision Engineering IPO opened to investors for bidding on September 02. The issue will close on September 04. Gala Precision will be raising Rs 167.93 crore through a combination of fresh shares and an offer for sale.
Price Band
The company kept the IPO price band in a range of Rs 503 to Rs 529 per equity share. The allotment of shares is expected to be on September 05. The listing is likely to be on NSE and BSE on September 09.
GMP
The shares of Gala Precision Engineering were fetching a premium of more than 45% in the grey market. It is an unofficial place where shares trade illegally ahead of listing.
Expert’s take on Gala Precision Engineering IPO
“The company has positioned itself to take advantage of trends in its sector and has developed a notable market share in both its segment, domestic and global. The company is focusing on strengthening its core capabilities in precision engineering for increased sustainability, along with that, they are moving up its operations up the value chain from niche markets to large addressable markets. The company also plans to leverage in-house design and development capabilities to grow its product offerings and capitalize on future trends. Investors looking to invest can invest in the IPO for the medium to long term,” said Master Capital Services in an IPO note.
Minimum Investment Requirement
A retail investor needs to apply for a minimum of 28 shares in a lot, which amounts to Rs 14,812. There are different lot sizes and investment requirements for small and big NIIs.
BRLM and Registrar
PL Capital Markets was the book-running lead manager of the IPO, while Link Intime India has been chosen to work as the registrar for the issue.
