Gulf Lloyds IPO

Gulf Lloyds IPO is an SME public issue worth ₹18.19 crore, comprising entirely a fresh issue of 18.19 lakh equity shares. The IPO will open for subscription on July 20, 2026, and close on July 22, 2026. The basis of allotment is expected to be finalised on July 23, while the company's shares are likely to be listed on the BSE SME platform on July 27, 2026.

The company has fixed the issue price at ₹100 per share. Investors can bid in lots of 1,200 shares. Retail investors are required to apply for a minimum of 2 lots (2,400 shares), translating to a minimum investment of ₹2.4 lakh. For HNI investors, the minimum application size is 3 lots (3,600 shares), requiring an investment of ₹3.6 lakh.

Interactive Financial Services Ltd. is acting as the book-running lead manager for the issue, while Kfin Technologies Ltd. has been appointed as the registrar. Prabhat Financial Services Ltd. will serve as the market maker for the IPO.

About Gulf Lloyds 

Gulf Lloyds (India) Limited is an independent third-party inspection, testing, and certification company that provides quality assurance and conformity assessment services to industrial clients. The company helps businesses comply with domestic and international quality and safety standards by offering inspection, verification, testing, auditing, certification, and technical training services.

Its service portfolio includes vendor inspections, site construction inspections, mill testing, pre-shipment inspections, cargo verification, and quality audits. The company also tests raw materials, finished products, and industrial systems to ensure compliance with applicable standards. In addition, Gulf Lloyds provides certification services, including ISO-related certifications, along with technical training programmes for industry professionals.

Gulf Lloyds serves clients across sectors such as oil and gas, petrochemicals, power, marine, mining, and heavy engineering. Backed by accreditations including ISO/IEC 17020:2012, the company leverages its engineering expertise to help organisations improve operational efficiency, maintain regulatory compliance, enhance safety standards, and reduce business risks across domestic and international markets.

Industry Outlook

1. Rising safety, environmental, and quality standards are increasing demand for inspection, testing, and certification services.
2. Higher investments in oil & gas, petrochemicals, and other asset-intensive industries are driving the need for independent quality assurance.
3. Ongoing investments in infrastructure, power generation, and mining projects are creating opportunities for technical inspection and auditing firms.
4. Companies are increasingly adopting third-party inspections, vendor audits, and pre-shipment checks to improve supply chain reliability.
5. Businesses are leveraging engineering inspection services to minimise downtime, reduce maintenance costs, and improve asset performance.
6. Growing cross-border trade is boosting demand for internationally recognised certifications and compliance with global standards such as ISO/IEC frameworks.

Gulf Lloyds IPO Objectives

The company is offering 18.20 lakh equity shares with a face value of each share of ₹10 per equity share. It plans to utilise the proceeds from its fresh issue to strengthen its operations, expand infrastructure, and meet business requirements. The key objectives of the IPO are:

1. To meet working capital requirements and support day-to-day operations and fund business growth.
2. To purchase equipment and invest in advanced testing, inspection, and laboratory equipment.
3. To invest in infrastructure expansion and establish new regional offices and testing facilities.
4. Meet business expansion and other corporate requirements.
5. To cover expenses related to the public issue, including professional and listing fees.

Financial Performance of Gulf Lloyds 

Gulf Lloyds Peer Comparison

There is no listed entity in India that is engaged in the same line of business in which the company is operating. Hence, a peer comparison has not been given in the DRHP of the business. 

Strengths and Opportunities for Gulf Lloyds IPO

• The company has recorded steady revenue growth. Its total income increased to ₹35.97 crore in FY26 from ₹23.51 crore in FY24.
• The company’s EBITDA stood at ₹7.90 crore in FY26, reflecting strong operating performance.
• The company maintained a healthy EBITDA margin of 21.97% in FY26.
• PAT was ₹4.30 crore, with a PAT margin of 12.06% in FY26.
• Total net worth nearly tripled to ₹13.48 crore in FY26 from ₹4.66 crore in FY24.
• Total assets grew to ₹35.29 crore in FY26, compared with ₹15.88 crore in FY24.
• The company reported a ROCE of 24.88% in FY26.
• RoNW stood at 31.92% in FY26.
• The debt-to-equity ratio was 1.15x as of FY26, indicating manageable debt levels.

Risks and Threats for Gulf Lloyds IPO

• Total income remained largely flat at ₹35.97 crore in FY26, compared with ₹35.88 crore in FY25.
• Profit after tax (PAT) declined to ₹4.30 crore in FY26 from ₹4.67 crore a year earlier.
• Total borrowings increased to ₹15.68 crore in FY26 from ₹8.94 crore in FY25.
• The debt-to-equity ratio rose to 1.15x in FY26, up from 0.96x in FY25.
• Return on Capital Employed (ROCE) declined to 24.88% in FY26 from 39.77% in FY25.
• Return on Net Worth (RoNW) fell to 31.92% in FY26, compared with 50.06% in FY25.
• The company's revenue is heavily dependent on sectors such as oil & gas, petrochemicals, power, and infrastructure.
• Its operations rely on maintaining key accreditations, including ISO/IEC 17020:2012.
• The absence of directly comparable listed peers makes it difficult for investors to benchmark the IPO's valuation.
• The company has a limited track record as a listed entity, having converted into a public limited company in January 2025.

Gulf Lloyds IPO Reservation

Gulf Lloyds IPO Promoter Holding

The promoters of the company are Jaykumar Bhavsar, Bhagirath Bhavsar, Anitaben Bhavsar, Shivaniben Bhavsar. 

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

Gulf Lloyds IPO Registrar and Lead Managers

Gulf Lloyds IPO Lead Managers

Interactive Financial Services Ltd.

Registrar for Gulf Lloyds IPO

Name: Kfin Technologies Ltd.

Phone: 040-79615565

Email: gulf.ipo@kfintech.com

How To Check the Allotment Status of the Gulf Lloyds IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Gulf Lloyds IPOOnline?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the NSE IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Gulf Lloyds IPO

Address: 910, Gala Empire,Opp. TV Tower, Drive-in Road, Thaltej Road, Ahmedabad, Gujarat, 380054

Phone: 079-35289495

Email: info@gulflloydsgroup.com