IPO

Gala Precision Engineering Limited IPO

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Industrial Products

Listed On: Sep 9, 2024 at ₹ 721.1(NSE)

₹ 14812 /28 Shares

Check Allotment

02 Sep, 2024

Open Date

04 Sep, 2024

Close Date

05 Sep, 2024

Allotment Date

09 Sep, 2024

Listing Date
Price Summary

Last Closing

764.00 (44.42%)

52 Week High

1,480.00

52 Week Low

712.40

Last Update

29-Oct-2025 3:30 PM
Gala Precision Engineering IPO Issue Details
  • Issue Price ₹503-529 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 31,74,416 shares(aggregating up to ₹167.93 crore)
  • Fresh Share 25,58,416 shares(aggregating up to ₹135.34 crore)
  • Offer For Sale 6,16,000 shares(aggregating up to ₹32.59 crore)
  • Listing at BSE, NSE
  • List Price 721.1(NSE)
  • Listing Date 2024-09-09
  • Lead Manager Pl Capital Markets Private Limited
  • Registrar Link Intime India Private Ltd
Market Lot Size

Investors can bid for a minimum of 28 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min) 128₹14,812
Retail(max)13364₹1,92,556
Gala Precision Engineering IPO Reservation

Gala Precision Engineering IPO offers total 31,74,416 shares. Out of which 6,33,724 (19.96%) allocated to QIB, 4,75,293 (14.97%) allocated to NII,11,09,017 (34.94%) allocated to RII, 5,796 (0.18%) allocated to employees and 9,50,586 (29.95%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered9,50,586 (29.95%)
QIB Shares Offered6,33,724 (19.96%)
NII (HNI) Shares Offered4,75,293 (14.97%)
bNII < ₹10L3,16,862 (9.98%)
sNII < ₹10L1,58,431 (4.99%)
Retail Shares Offered11,09,017 (34.94%)
Employee Shares Offered5,796 (0.18%)
Total Shares Offered31,74,416 (100%)
Gala Precision Engineering IPO Documents
DRHP
RHP
ANCHOR
Gala Precision Engineering IPO Details


Gala Precision Engineering IPO is a book-built issue of ₹167.93 crores, The total issue size is ₹167.93 crores. The IPO of Gala Precision Engineering is priced at ₹503-529 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Sep 2, 2024 and ends on Sep 4, 2024. The allotment for Gala Precision Engineering IPO will be finalized on Sep 5, 2024. Gala Precision Engineering IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 9, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 28 shares, extendable to 14,812. The book-running lead manager for the IPO is/are Pl Capital Markets Private Limited.

The total issue ₹167.93 crore, comprising a fresh issue of 25,58,416 shares ₹135.34 crore and having Offer for Sale (OFS) of 6,16,000 shares to mop up ₹32.59 crore.

The Gala Precision Engineering IPO sets its price band at 503-529 for each share. A single application for Gala Precision Engineering Limited IPO must contain at least 28 shares. Sentiment investors need to invest a minimum of 28 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,812

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Gala Precision Engineering IPO Subscription Analysis And Details
Retail
91.91x
QIB
232.54x
NII
414.60x
bNII
439.67x
sNII
364.47x
Total
201.39x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved633,724475,293
316,862    158,431		1,109,0172,223,830
Day 1 02-09-24 05:00 PM
0.86 x20.52
16.13 x   29.30 x		11.99 x10.71 x
Day 2 03-09-24 05:00 PM
5.06 x132.93
128.28 x   142.24 x		44.21 x52.21 x
Day 3 04-09-24 05:00 PM
232.54 x414.60
439.67 x   364.47 x		91.91 x201.39 x
Total No of Applications
34,44,648
Subscription on the basis of Applications
Retail:80.56x BHNI:85.82x SHNI:345.96x
Gala Precision Engineering Valuations
EPS Pre IPO ₹22.09/-
EPS Post IPO ₹17.63/-
P/E Pre IPO 23.95
P/E Post IPO 30.01
ROE 23.59%
ROCE 19.91%
Debt/Equity 0.53
RoNW 21.38%
PAT Margin 11.89
Price to Book Value 5.12
Gala Precision Engineering Company Financials
In Crs.
In Cr.
31-Mar-2431-Mar-2331-Mar-22
Assets188.69170.39145.62
Revenue204.38167.08147.96
Profit After Tax22.3324.216.63
Net Worth104.4583.6659.32
Reserves & Surplus94.6781.1356.79
Total Borrowing55.0358.656.89
About Gala Precision Engineering Company

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.

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Gala Precision Engineering - Promoter(s)

Kirit Vishanji Gala

Kirit Vishanji Gala

Pre Issue Share Holding : 74.56%

Post Issue Share Holding : 55.40%

Gala Precision Engineering IPO - Issue Objectives
1

Setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts

2

Funding capital expenditure requirements towards purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra

3

Repayment/ prepayment, in full or part, of certain borrowings availed by the company

4

General corporate purposes.

Gala Precision Engineering IPO - Anchor Investors

Gala Precision Engineering mops up over Rs 50 cr from anchor investors.

Negen Undiscovered Value Fund is the biggest investor amongst them, buying 2.88 lakh shares worth Rs 15.28 crore.

Other seven institutional investors - NAV Capital Emerging Star Fund, Cognizant Capital Dynamic Opportunities Fund, India Emerging Giants Fund, Finavenue Growth Fund, Chhatisgarh Investments, Gagandeep Credit Capital, and Resonance Opportunities Fund - bought 94,528 equity shares each, which are worth little more than Rs 5 crore each

Gala Precision Engineering IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Gala Precision Engineering Limited24.3724.02103.3N/A23.27N/AConsolidated
Harsha Engineers International Ltd12.2412.24129.0944.339.484.2Consolidated
Skf India Ltd111.6111.6542.6348.520.579.99Consolidated
Sundram Fasteners Ltd.24.8324.83162.8154.4915.378.35Consolidated
Rolex Rings Limited57.357.3329.8140.8317.377.11Standalone
Sterling Tools Ltd.15.3715.35124.1124.712.383.06Consolidated
Ratnaveer Precision Engineering Ltd7.617.6151.7824.6912.323.67Standalone

Notes:

  1. The total number of Equity Shares outstanding for the Company is taken after the issue of bonus Equity Shares on September 27, 2023.
  2. RONW for peers is computed as net profit as a percentage of Net Worth at the end of the Fiscal year 2024.
  3. RONW for the Company is computed as Net Profit with exceptional items or without exceptional items as applicable, as a percentage of Net Worth at the end of the Fiscal year 2024.
  4. Concerning the Company, the information above is based on the Restated Financial Statements for the year ended March 31, 2024.
  5. Financial information for listed industry peers mentioned above is for the twelve months ended March 31, 2024, and is based on the respective annual reports disclosed by these companies to the stock exchanges.
  6. Diluted EPS refers to the diluted earnings per share sourced from the audited financial statements of March 2024 of the respective company.
  7. NAV is computed as the net worth at the end of the year divided by the closing outstanding number of equity shares.
  8. The P/E Ratio has been computed based on the closing market price of the equity shares (Source: NSE) on August 09, 2024, divided by the Diluted EPS.
  9. Rolex Rings Limited and Ratnaveer Precision Engineering Limited do not have any subsidiary and hence financial information for this company is referred to as 'Standalone'
Strength
Extensive global presence, exporting to over 25 countries with 175+ clients.
Strong market share: 10% in the Indian disc springs market.
In-house design and development capabilities for 200+ precision products.
Weakness
High dependency on spring technology for 80.11% of revenue.
Labour issues could disrupt operations; 294 permanent employees.
Loss of key customers could impact 32.46% of revenue.
Contact Details

Gala Precision Engineering

A-801, 8th Floor, Thane One DIL Complex, Ghodbunder Road Majiwade, Thane (West)-400610

+91 22-6930 9224

investor.relations@galagroup.com

https://www.galagroup.com/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

galaprecision.ipo@linkintime.co.in

https://linkintime.co.in/initial_offer/public-issues.html