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Gala Precision Engineering IPO GMP: Key Information You Shouldn’t Miss

Overview of Gala Precision Engineering IPO with key details on listing dates, company growth, and investment opportunities

Gala Precision Engineering working for 175+ global customers across 25+ countries like Germany, Denmark, USA, and Switzerland etc and has office in Frankfurt Germany which caters to existing and potential clientele in Europe

Gala Precision Engineering IPO is coming with price band of around ₹503 to ₹529 per share with min lot size 28 Shares.

Industries served

Industrial

Gala Precision Engineering IPO FAQs

Objectives of the Issue

New Manufacturing Facility : Set up a new plant in Tamil Nadu

Capital Expenditure : Fund the purchase of equipment, plant, and machinery at the Wada facility in Maharashtra.

Debt Repayment: Repay or prepay part of the company’s existing loans

General Corporate Purposes: Use funds for various corporate needs.

Issuance Period for Gala Precision Engineering IPO :

Gala Precision Engineering IPO subscription starts from September 2, 2024 and will be available till September 4, 2024.

EventDate
IPO Opening DateSeptember 2, 2024
IPO Closing DateSeptember 4, 2024
Allotment Finalization DateSeptember 5, 2024 (Thursday)
Tentative Listing DateSeptember 9, 2024 (Monday)
Stock Exchange ListingBSE, NSE

IPO Size :

Gala Precision Engineering IPO: amount to be raised Rs 167.93 crores.

GMP ( Grey market Premium )

DateCurrent GMP (₹)Percentage (%)
August 31, 2024₹24045.37%
September 3, 2024₹26850.6%
September 4, 2024₹23043.48%
September 5, 2024₹26049%
September 6, 2024

Lot Size :

Investor typeLotsNumber of SharesAmount
Retail (Min)128₹14,812
Retail (Max)13364₹192,556
S-HNI (Min)14392₹207,368
S-HNI (Max)671,876₹992,404
B-HNI (Min)681,904₹1,007,216

Gala Precision Engineering IPO Details :

DetailInformation
Draft Red Herring Prospectus DateFebruary 14, 2024
Company NameGala Precision Engineering Limited
Incorporation DateFebruary 23, 2009
Name Change to Public CompanyOctober 25, 2023
IPO Size– Fresh Issue: Up to 2,558,416 Equity Shares
– Offer for Sale: Up to 616,000 Equity Shares
– Total Offer Size: Up to 3,174,416 Equity Shares
PromotersKirit Vishanji Gala and Smeet Kirit Gala
Registrar to the OfferLink Intime India Private Limited
Book Running Lead ManagerPL Capital Markets Private Limited
Face Value₹10 per share
Price Band₹503 to ₹529 per share
Lot Size28 Shares
Listing on Stock ExchangesBSE and NSE

Gala Precision Engineering Financial Information :

Category31 Mar 202431 Mar 202331 Mar 2022
Assets₹188.69 Cr₹170.39 Cr₹145.62 Cr
Revenue₹204.38 Cr₹167.08 Cr₹147.96 Cr
Profit After Tax₹22.33 Cr₹24.21 Cr₹6.63 Cr
Net Worth₹104.45 Cr₹83.66 Cr₹59.32 Cr
Reserves and Surplus₹94.67 Cr₹81.13 Cr₹56.79 Cr
Total Borrowing₹55.03 Cr₹58.60 Cr₹56.89 Cr
Amount in crores

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About Company

Specialization

Gala Precision Engineering specializes in designing and manufacturing precision components, including High Tensile Fasteners, Disc & Strip Springs, Coil & Spiral Springs, and Wedge Lock Washers

Products adhere to global standards like German DIN and can be customized to meet specific customer requirements

Clientele and Market Reach

Primary clients are major OEMs, Tier-1 suppliers, and channel partners across industries such as Renewable Energy, Industrial, and Mobility.

Gala serves over 175 global customers across 25+ countries, including Germany, Denmark, China, Italy, Brazil, USA, Sweden, and Switzerland.

International sales contribute approximately 40% of total revenue

Global Presence

The company has an office in Frankfurt, Germany, to serve existing and potential clients across Europe

Expansion

Gala is expanding its operations with a new facility in Vallam-Vadagal, SPICOT, Sriperumbudur, Tamil Nadu, dedicated to producing specialized fastening solutions

Experience and Competencies

With 30 years of experience, Gala has developed strong competencies in in-house tool design and development, material science, heat treatment, and surface engineering.

The company employs lean manufacturing practices and invests in semi-automation and automation to enhance productivity and eliminate errors.

Evolution and Milestones

YearMilestone
1989-1994– Established as manufacturers of Disc Springs & Mass Finishing Systems (MFS) in India.
– Set up a new plant for Compressor Valves.
1995-1999– SAP implementation & TS 16949 certification by BVQi.
2000-2009– Established China Plant and exited Compressor Valves business to Hoerbiger.
– Developed spring assemblies for the power sector, expanded Disc Springs range, and collaborated with German universities for technology advancements.
20102015– Commissioned new plant for Coil Springs.
2016– Received award from ABB, Germany for Disc Springs as one of the top 10 suppliers.
– VDA 6.3 plant audited and approved by Tier-1 companies like Valeo, Schaefller, Rane TRW (ZF).
2017-2018– Commenced fasteners plant; Gallock Wedge Lock Washers approved by Indian Railways as an import substitute.
– Launched Gallock Wedge Lock Washers in India for off-highway vehicles and heavy machinery. Invested in advanced thread rolling machinery for large stud production.
2019-2020– Entered Compression Springs market for Indian Metro Rails as import substitute.
– Secured orders from leading wind turbine manufacturers for Foundation Studs & Gallock Wedge Lock Washers.
– Achieved significant market presence of Disc Springs in Europe.
2021-2022– Began exporting fasteners to Europe and USA.
– Expanded manufacturing in Chennai, focusing on High Tensile Fasteners product range.
2023– Continued strategic growth and expansion efforts.

IPO Prospectus

Gala Precision Engineering IPO DRHP


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