Gala Precision Engineering IPO Engineering IPO opens for subscription:
SUMMARY
Gala Precision Engineering IPO: The fresh issue proceeds will be used to establish a new facility in Tamil Nadu for manufacturing high-tensile fasteners and hex bolts, fund capital expenditure requirements, repay debt, and general corporate purposes.The initial public offering (IPO) of Gala Precision Engineering is now open for subscription. Here are the key details:
- Price Band: [Insert Price Band]
- Lot Size: [Insert Lot Size]
- Subscription Dates: [Insert Dates]
- Issue Size: [Insert Issue Size]
- Face Value: [Insert Face Value]
- Listing Exchange: [Insert Listing Exchange]
Investors interested in participating in the IPO should review the detailed prospectus and ensure they are aware of the pricing and lot size before subscribing.
Gala Precision Engineering IPO Opens for Subscription
Key Details:
- Subscription Period: September 2, 2024, to September 4, 2024
- Price Band: ₹503-₹529 per equity share
- Issue Size: ₹167.93 crore
- Fresh Issuance: 25.58 lakh shares (₹135.34 crore)
- Offer-for-Sale (OFS): 6.16 lakh shares (₹32.58 crore) by promoter group entities and individual shareholders
- Use of Proceeds: Establishing a new facility in Tamil Nadu for manufacturing high-tensile fasteners and hex bolts, funding capital expenditure, repaying debt, and general corporate purposes
- Lot Size: Minimum of 28 equity shares (one lot) worth ₹14,084, and in multiples thereafter
Lead Manager: PL Capital Markets Private Limited
Gala Precision Engineering IPO: Timeline
- Bidding Period: September 2, 2024, to September 4, 2024
- Allotment Finalization: September 5, 2024
- Refund Initiation: September 6, 2024
- Demat Transfer: September 6, 2024
- Listing Date: September 9, 2024
About Gala Precision Engineering
Gala Precision Engineering specializes in precision components and technical springs. Their product range includes:
- Coil & Spiral Springs (CSS)
- Special Fastening Solutions (SFS)
- Disc & Strip Springs (DSS)
These products serve various industries including renewable energy, automobiles, railways, off-highway vehicles, electrical and power equipment, heavy machinery, passenger and commercial vehicles, and industrial infrastructure.
The company exports its products globally, catering to 175 customers across 25 countries, including Denmark, Germany, China, Italy, the USA, Brazil, and Switzerland.
For the fiscal year 2023-24, Gala Precision Engineering reported revenues of ₹202.54 crore and a net profit of ₹22.33 crore.
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