The public issue or Initial Public Offering (IPO) of Gala Precision Engineering (GPEL) which kicked off today (September 2) on the first of bidding was subscribed 10.83 times.
The issue received bids for 2,40,82,044 shares against the 22,23,830 equity shares on offer. The price band for the IPO is set between Rs 503 and Rs 529 per share.
The 3-day-long IPO opened for subscription on September 2 and is set to end on September 4, 2024.
Details of the IPO
The Employee Portion of the public issue was subscribed by 38.31 per cent on the Day of the bidding.
Similarly, the Non-Institutional Investors (NII) and Retail Investors was subscribed 20.71 times and 12.14 times, respectively.
The anchor round included a mix of t both foreign and domestic institutions. |
Furthermore, the Qualified Institutional Buyer (QIB) Portion was subscribed 0.86 times
Anchor Investors'
Before the opening of the public issue, the company managed to secure Rs 50.29 crore from anchor investors. The key players in the anchor investors included AV Capital Emerging Star Fund, Negen Undiscovered Value Fund, and Cognizant Capital Dynamic Opportunities Fund, among others.
The anchor round included a mix of t both foreign and domestic institutions.
About the company
The company, founded and led by Kirit Vishanji Gala, operates in the field of tech and manufacturing with over 30 years of experience in the domestic market.
Moreover, the company holds a 15 per cent share in the SFS market for wind turbines.
The sole book running lead manager is PL Capital Markets Private Limited and Link Intime India Private Limited is the registrar to the offer |
It supplies its products to OEMs, Tier 1 suppliers, and channel partners across diverse sectors, including renewable energy, industrial machinery, and railways.
From FY 2022 to FY 2024, the company reported an 18 per cent CAGR in revenue and a 57 per cent CAGR in PBT.
Book running lead manager and listing
The sole book running lead manager is PL Capital Markets Private Limited and Link Intime India Private Limited is the registrar to the offer.
The equity shares are proposed to be listed on BSE and NSE.
