The Initial Public Offering of Gala Precision Engineering Limited was subscribed 201.41 times on the final day of bidding, the most since the start of FY25.
The issue received bids of 44,78,95,196 shares against the offered 22,23,830 equity shares, at a price band of ₹503-529, according to the data available on the stock exchanges.
Non-Institutional Investors Portion and Qualified Institutional Buyer Portion were subscribed 414.61 times and 232.54 times respectively, whereas Employee Portion was subscribed 258.99 times. Retail Portion was subscribed 91.94 times.
|
Top 10 most subscribed IPO in FY25
|
|
Company Name
|
No of times subscribed
|
|
Gala Precision Engineering Ltd
|
201.41
|
|
Unicommerce eSolutions Ltd
|
168.35
|
|
Orient Technologies Ltd
|
151.66
|
|
Vraj Iron and Steel Ltd
|
126.36
|
|
Kronox Lab Sciences Ltd
|
117.25
|
|
Awfis Space Solutions Ltd
|
108.17
|
|
Saraswati Saree Depot Ltd
|
107.39
|
|
DEE Development Engineers Ltd
|
103.03
|
|
Ixigo (Le Travenues Technology Ltd)
|
98.1
|
|
Stanley Lifestyles Ltd
|
95.75
|
|
Source: Chittorgarh.com
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|
PL Capital Markets Private Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
Company Information
Led by Kirit Vishanji Gala, Gala Precision is a precision component manufacturer of technical springs like disc & strip springs (“DSS”); coil & spiral springs (“CSS”) and special fastening solution (“SFS”).
It is a technology-driven company with a strong focus on quality, design tool development, and application engineering. It has more than 3 decades of experience in developing customized products to meet the evolving needs of its customers and commands an approximation of 15% market share in the domestic SFS market for wind turbines.
The Company supplies its products to original equipment manufacturers (“OEMs”), Tier 1 and channel partners; used in sectors like renewable energy including wind turbine and hydro power plants, various industrial sectors such as electrical, off highway equipment, infrastructure and general engineering, mobility segments such as automotive and railways.
Its technical springs and high tensile fasteners have been supplied to customers in countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden, Switzerland etc.
Its business primarily comprises of springs technology division, under which it manufactures DSS including wedge lock washers (“WLW”), CSS and SFS in which it manufactures anchor bolts, studs and nuts.
The Company operates its business from its two manufacturing facilities located in Wada, Palghar, Maharashtra. Further, it is also setting up a new manufacturing facility in Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for developing various high-tensile fasteners to add to its existing product portfolio and new products.
For fiscal 2023–24, the company’s revenue from operations increased by 22.41%, reaching to ₹2025.45 million in Fiscal 2024 from ₹1654.65 million in Fiscal 2023, driven incremental sales of DSS due to the addition of new customers and increased demand from renewable energy, railways and industrial sectors; as well as incremental sales of CSS, owing to increased demand from the automobile industry and the commencement of supplies to the railways.
The table below shows subscription data for all the categories of investors:
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GALA PRECISION ENGINEERING LIMITED
Last updated on
04 Sep 2024 | 05:00:00 PM
|
|
Sr.No.
|
Category
|
No.of shares offered / reserved
|
No. of shares bid for
|
No. of times of total meant for the category
|
|
1
|
Qualified Institutional Buyers (QIBs)
|
6,33,724
|
14,73,66,856
|
232.54
|
|
1(a)
|
Foreign Institutional Investors (FIIs)
|
–
|
3,00,70,068
|
–
|
|
1(b)
|
Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)
|
–
|
6,23,03,332
|
–
|
|
1(c)
|
Mutual Funds
|
–
|
1,42,296
|
–
|
|
1(D)
|
Others
|
–
|
5,48,51,160
|
–
|
|
2
|
Non Institutional Investors(NIIS)
|
4,75,293
|
19,70,62,516
|
414.61
|
|
2.1
|
Non Institutional Investors(Bid amount of more than Ten Lakh Rupees)
|
3,16,862
|
13,93,13,916
|
439.67
|
|
2.1(a)
|
Corporates
|
–
|
20,68,276
|
–
|
|
2.1(b)
|
Individuals (Other than RIIs)
|
–
|
12,39,31,388
|
–
|
|
2.1(c)
|
Others
|
–
|
1,33,14,252
|
–
|
|
2.2
|
Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees)
|
1,58,431
|
5,77,48,600
|
364.50
|
|
2.2(a)
|
Corporates
|
–
|
1,68,028
|
–
|
|
2.2(b)
|
Individuals (Other than RIIs)
|
–
|
5,16,31,748
|
–
|
|
2.2(c)
|
Others
|
–
|
59,48,824
|
–
|
|
3
|
Retail Individual Investors (RIIs)
|
11,09,017
|
10,19,64,716
|
91.94
|
|
3(a)
|
Cut Off
|
–
|
9,08,58,404
|
–
|
|
3(b)
|
Price Bids
|
–
|
1,11,06,312
|
–
|
|
4
|
Employee Reserved
|
5,796
|
15,01,108
|
258.99
|
|
4(a)
|
Employee (Cut off)
|
–
|
14,06,776
|
–
|
|
4(b)
|
Employee (Price)
|
–
|
94,332
|
–
|
|
5
|
Reservation PortionShareholder
|
–
|
–
|
–
|
|
5(a)
|
RPS (Cut off)
|
–
|
–
|
–
|
|
5(b)
|
RPS (Price)
|
–
|
–
|
–
|
|
Total
|
22,23,830
|
44,78,95,196
|
201.41
|
*BSE + NSE Cumulative Demand Live Link*
