Gala Precision Engineering Limited's public issue on the final day of bidding on Wednesday, (September 4) was subscribed 201.41 times. The issue received 44,78,95,196 shares, outpacing the 22,23,830 equity shares on offer.
The IPO was kicked off on September 2 and concluded on September 4, 2024. The price band of the public issue was set between Rs 503 and Rs 529 per share.
Subscription Breakdown
Non-Institutional Investors: The investors have had an immense interest, with their portion subscribed 414.61 times.
Qualified Institutional Buyers (QIBs): Their allocation saw a subscription rate of 232.54 times.
Employee Portion: Employees have a subscription rate of 258.99 times.
Retail Investors: Retail participation also had a subscription rate of 91.94 times.
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Anchor Investors and Key Details
Before the public offering, the company secured ₹50.29 crore from anchor investors, including prominent funds such as AV Capital Emerging Star Fund, Negen Undiscovered Value Fund, and Cognizant Capital Dynamic Opportunities Fund.
The IPO is managed by PL Capital Markets Private Limited, serving as the sole book-running lead manager, with Link Intime India Private Limited acting as the registrar for the offer.
The company's equity shares are set to be listed on both BSE and NSE.
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IPO Journey - Day 1 and Day 2
Day 1: The IPO opened on September 2, 2024, and was subscribed 10.83 times, with bids for 2,40,82,044 shares against the 22,23,830 shares available.
Day 2: The second day saw a surge, with the issue being subscribed 52.21 times, receiving bids for 11,61,01,412 shares.
About the company
Founded and led by Kirit Vishanji Gala, the company has over 30 years of experience in the tech and manufacturing sectors, with an 18 per cent compound annual growth rate (CAGR) in revenue and a 57 per cenr CAGR in profit before tax (PBT) from FY 2022 to FY 2024.
