Gala Precision IPO Details | Gala Precision Engineering Limited IPO
Gala Precision IPO Details | Gala Precision Engineering Limited IPO
Gala Precision Engineering's IPO is a book-built issue worth ₹167.93 crores. It includes a fresh issue of 0.26 crore shares, totaling ₹135.34 crores, and an offer for sale of 0.06 crore shares, amounting to ₹32.59 crores.
The IPO opens for subscription from September 2, 2024, to September 4, 2024, with allotment expected on September 5, 2024. The company's shares will be listed on the BSE and NSE, with a tentative listing date of September 9, 2024. The price band for the IPO is set at ₹503 to ₹529 per share. Retail investors need to apply for at least 28 shares, requiring a minimum investment of ₹14,812. The minimum lot size investment for small non-institutional investors (sNII) is 14 lots (392 shares), totaling ₹2,07,368, while large non-institutional investors (bNII) need to apply for 68 lots (1,904 shares), amounting to ₹10,07,216.
Pl Capital Markets Private Limited is the book-running lead manager for the IPO, and Link Intime India Private Ltd is the registrar. Incorporated in February 2009, Gala Precision Engineering manufactures 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).
Gala Precision's products are used in sectors such as electrical, off-highway equipment, infrastructure, and general engineering, as well as in automotive and railway industries. The company has supplied its technical springs and high-tensile fasteners to customers in multiple countries, including Germany, Denmark, China, Italy, Brazil, the USA, Sweden, and Switzerland, positioning itself as a key link in the global OEM supply chain.
The company operates two main divisions: the Springs Technology Division, which manufactures DSS, including Wedge Lock Washers (WLW), and CSS, and the Special Fastening Solutions (SFS) division, which produces anchor bolts, studs, and nuts. As of March 30, 2024, the company serves more than 175 customers in over 25 countries, including those mentioned above.
Gala Precision has two manufacturing facilities in Wada District, Palghar, Maharashtra, capable of designing, developing, and manufacturing a diverse product range. A new facility is being established in Vallam-Vadagal, SIPCOT, Sriperumbudur, Tamil Nadu, to focus on developing high-tensile fasteners and expanding the product line with new items like bolts.
As of June 30, 2024, the company employs 294 permanent workers and 390 contract employees. This workforce includes 182 manufacturing workers, 19 employees in stores and logistics, 19 in quality assurance, 14 in tool room development and maintenance, and 22 in human resources and administration.
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