Last Day of Gala Precision Engineering IPO: Did You Subscribe?

On the last day of bidding, the Gala Precision Engineering IPO witnessed increased interest from investors, including QIBs, NIIs, and Retailers. The ₹167.93 crore Gala Precision Engineering IPO is a book-built issue, which combines a fresh issue of 0.26 crore shares aggregating ₹135.34 crores and an offer for sale of 0.06 crore shares aggregating ₹32.59 crores.

The Gala Precision Engineering IPO was open for subscription from September 2, 2024, and closed today, September 4, 2024. The allotment for the Gala Precision Engineering IPO is expected to be finalised on September 5, 2024. The IPO will list on BSE and NSE, with a tentative listing date of September 9, 2024.

Day Wise Subscription

• On the first day, Gala Precision Engineering IPO subscribed 10.96 times. The public issue subscribed 12.36 times in the retail category, 0.86 times in QIB, and 20.80 times in the NII category.
• On the second day of bidding, Gala Precision Engineering IPO subscribed 52.41 times. The public issue subscribed 44.55 times in the retail category, 5.06 times in QIB, and 133.09 times in the NII category.
• On the last day, Gala Precision Engineering IPO subscribed 73.14 times. The public issue subscribed 58.34 times in the retail category, 5.22 times in QIB, and 197.12 times in the NII category as of 11:09 AM.

Grey Market Premium

Gala Precision Engineering IPO’s last GMP was ₹230. With a price band of ₹529.00, Gala Precision Engineering IPO’s estimated listing price is ₹759. The expected percentage gain/loss per share is 43.48%.

About Gala Precision Engineering Limited

Incorporated in 2009, Gala Precision Engineering Limited is a manufacturer of precision components such as disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS). The company supplies these products to original equipment manufacturers (OEMs). The company’s products are used in sectors such as electrical, off-highway equipment, infrastructure, and general engineering, as well as in mobility segments such as automotive and railway.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.