IPO

Gallard Steel Limited IPO

BSE SME

Listed On: Nov 26, 2025 at ₹ 223.1

₹ 300000 /2000 Shares
*Min Investment

Check Allotment

19 Nov, 2025

Open Date

21 Nov, 2025

Close Date

24 Nov, 2025

Allotment Date

26 Nov, 2025

Listing Date
Expected Premium
+ ₹50-53 (33.33%)

*Expected Premium provided in this app is derived from market rumors. It is not a guaranteed indicator of the actual listing price and should be interpreted with caution.

Gallard Steel IPO Live Subscription Details
View Subscription Details
QIB 228.48x
Individual 351.58x
NIIs 624.90x
BHNI 746.48x
SHNI 381.75x
Individual 351.58x
Total 375.62x
Last updated: 21 Nov 2025, 05:57 PM
Gallard Steel IPO Issue Details
  • Issue Price ₹142-150 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 25,00,000 shares(aggregating up to ₹37.5 crore)
  • Fresh Share 25,00,000 shares(aggregating up to ₹37.5 crore)
  • Listing at BSE SME
  • List Price 223.1
  • Listing Date 2025-11-26
  • Lead Manager Seren Capital Pvt.Ltd
  • Registrar Ankit Consultancy Pvt.Ltd
Market Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Individual (min) 2 2000 ₹3,00,000
Individual(max) 2 2000 ₹3,00,000
SHNI(min) 3 3000 ₹4,50,000
SHNI(max) 6 6000 ₹9,00,000
BHNI(min) 7 7000 ₹10,50,000
Gallard Steel IPO Reservation

Gallard Steel IPO offers total 2500000 shares. Out of which 474000 (18.96%) allocated to QIB, 360000 (14.4%) allocated to NII,832000 (33.28%) allocated to RII, NA (NA%) allocated to employees and 709000 (28.36%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 709000 (28.36%)
Market Maker Shares Offered 125000 (5%)
QIB Shares Offered 474000 (18.96%)
NII (HNI) Shares Offered 360000 (14.4%)
bNII > ₹10L 240000 (9.53%)
sNII < ₹10L 120000 (4.77%)
Individual Shares Offered 832000 (33.28%)
Total Shares Offered 2500000 (100%)
Gallard Steel IPO Documents
DRHP
RHP
ANCHOR
Gallard Steel IPO Details


Gallard Steel Limited IPO is an SME IPO, priced at ₹142-150 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the BSE SME platform. The IPO comprises a total issue of 25,00,000 equity shares, aggregating up to ₹37.5 crores..

The IPO bidding window is open from Nov 19, 2025 to Nov 21, 2025. The allotment is expected to be finalized on Nov 24, 2025, and the tentative listing date is Nov 26, 2025.

The minimum lot size for Individual investors is 2000 shares, with a minimum investment of ₹3,00,000.

Seren Capital Pvt.Ltd is acting as the lead manager to the issue. The registrar of the IPO is Ankit Consultancy Pvt.Ltd, and

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Gallard Steel IPO Subscription Analysis And Details
Retail
351.58x
QIB
228.48x
NII
624.90x
bNII
745.96x
sNII
381.75x
Total
375.62x
As on QIB NII
bNII   sNII 		Individual Total
Shares Offered / Reserved 4,74,000 3,60,000
2,40,000    1,20,000 		8,32,000 16,66,000
Day 1 19-11-25 06:00 PM
0.00 x 8.88 x
10.65 x   5.33 x 		7.00 x 5.41 x
Day 2 20-11-25 06:00 PM
1.97 x 57.49 x
66.93 x   38.63 x 		48.48 x 37.19 x
Day 3 21-11-25 06:00 PM
228.48 x 624.90 x
745.96 x   381.75 x 		351.58 x 375.62 x
Total No of Applications
1,84,587
Subscription on the basis of Applications
Ind:351.58x BHNI:289.20x SHNI:358.45x
Gallard Steel Valuations
EPS Pre IPO ₹8.67/-
EPS Post IPO ₹9.04/-
P/E Pre IPO 17.31
P/E Post IPO 16.6
ROE 43.16%
ROCE 26.59%
Debt/Equity 1.19
RoNW 35.51%
PAT Margin 11.38%
Price to Book Value 6.15
Market Cap. 142.50 Cr.
Gallard Steel Company Financials
In Crs.
In Cr.
30-Sep-25 31-Mar-25 31-Mar-24
Assets 50.33 48.77 39.14
Revenue 32.14 53.52 27.86
Profit After Tax 4.29 6.07 3.20
Net Worth 21.38 17.08 11.03
Reserves & Surplus 14.38 10.08 4.03
Total Borrowing 19.13 20.38 17.59
About Gallard Steel Company

Incorporated in 2015, Gallard Steel Limited is a manufacturer of engineered steel castings, which includes mild steel, SGCI, and low alloy castings.

The company manufactures ready-to-use components, assemblies, and subassemblies for Indian Railways, the defence sector, power generation, and allied industries, providing high-quality solutions across various sectors.

The foundry, spread over an area of 12,195 square meters in Pithampur, Dhar, Madhya Pradesh, performs the manufacturing operations and is ISO 9001:2015-certified. The company makes use of various in-house machinery and equipment for processes related to melting, heat treatment, grinding, moulding, sand mixing, and finishing.

The company supplies components for railway traction motors, defence cradles, power generation guide vanes, and industrial machinery liners to sectors such as railways, defence, power generation, and heavy engineering industries.

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Gallard Steel - Promoter(s)

Zakiuddin Sujauddin

Hakimuddin Ghantawala

Kaid Johar Kalabhai

Zahabiya Kalabhai

Mariya Zakiuddin Sujauddin

Pre Issue Share Holding : 91.14%

Post Issue Share Holding : %

Gallard Steel IPO - Issue Objectives
1

Funding of capital expenditure towards expansion of the existing manufacturing facility and construction of office Building

2

Repayment of a portion of certain borrowings availed by the Company

3

General Corporate Purpose

Contact Details

Gallard Steel

Flat No. 01, Sukhsneh Apartment, 168-M Khatiwala Tank, Indore, Madhya Pradesh, 452014

+91-9644422252

cs@gallardsteel.com

https://www.gallardsteel.com/

Registrar Contact Details

Ankit Consultancy Pvt.Ltd

0731 - 491 298 / 492 698

compliance@ankitonline.com

https://www.ankitonline.com/PublicIssue/FrmPublicIssue.aspx