GALA PRECISION ENGINEERING LIMITED (MAINBOARD)

Sep 2, 2024 - Sep 4, 2024

Price ₹503 - ₹529
Premium ₹245
Lot size 28
Allotment Sep 5, 2024
Listing Sep 9, 2024

Category Lot(s) Qty Amount Reserved
Retail 1 28 14812 39680
sHNI 14 392 207368 405
bHNI 68 1904 1007216 810

Last updated on 04-Sep-2024 19:03:05

CategoryOfferedAppliedTimes
QIBs633724147366856232.54
HNIs475293197065120414.62
 HNIs 10+316862139313916439.67
 HNIs 2+15843157751204364.52
Retail110901710197283691.95
Employees57961501192259
Total2223830447906004201.41
Application Wise Breakup (Approx)
CategoryReservedAppliedTimes
HNIs (10L+)8106951385.82
HNIs (2-10L)405140123345.98
Retail39680319643180.56
Total Applications: 3446380
© IPO Premium
Subscription Demand (in ₹ crore)
CategoryOfferedDemandTimes
QIBs33.527795.71232.54
FIIs-1590.71-
DIIs-3127.81-
Mutual funds-7.53-
Others-2901.63-
HNIs25.1410424.74414.62
HNIs 10+16.767369.71439.67
HNIs 2+8.383055.04364.52
Retail58.675394.3691.95
Employees0.3179.41259
Total117.6423694.23201.41
QIB Interest Cost per share (7 Days)
@7%
₹165.14
@8%
₹188.73
@9%
₹212.32
@10%
₹235.92
@11%
₹259.51
@12%
₹283.1
About

IPO Details

Total Issue Size3,174,416 shares (aggregating up to [167.93] Cr)
Fresh Issue2,558,416 shares (aggregating up to [135.34] Cr)
Offer for Sale616,000 shares of  (aggregating up to [32.59] Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue10,111,584
Share holding post issue12,670,000

IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot more than 50.00% of the Net offer
Retail Shares OfferedNot less than 35.00% of the Net Issue
NII (HNI) Shares OfferedNot less than 15.00% of the Net Issue

Key Performance Indicators

KPIMar-24Mar-23Mar-22
ROE23.27%17.28%11.18%
ROCE19.91%22.93%13.85%
RONW21.38%28.94%11.18%
D/E0.530.70
EPS
(Diluted)
21.7723.566.44
P/E
Pre IPO
23.95
P/E
Post IPO
30.01

Financial Statement ( Restated)

Period EndedMar-24Mar-23Mar-22
Assets188.69170.39145.62
Revenue204.38167.08147.96
Profit After Tax22.3324.216.63
Net Worth104.4583.6659.32
Reserves and Surplus94.6781.1356.79
Total Borrowing55.0358.656.89
Amount in Crore

About Company

Incorporated in February 2009, Gala Precision Engineering Limited specializes in manufacturing precision components, including disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS). Serving original equipment manufacturers (OEMs) across diverse sectors such as electrical, off-highway equipment, infrastructure, and mobility segments like automotive and railway, the company is a critical player in the global supply chain. Gala Precision Engineering has an international footprint with over 175 customers in 25 countries, including Germany, Denmark, China, Italy, Brazil, USA, Sweden, and Switzerland. The company operates two manufacturing facilities in Wada District, Palghar, Maharashtra, and is expanding with a new plant in Vallam-Vadagal, SIPCOT, Sriperumbudur, Tamil Nadu, focusing on high-tensile fasteners and new products like bolts. As of June 30, 2024, Gala Precision employs 294 permanent staff, including roles in manufacturing, stores and logistics, quality assurance, tool room development, and human resources, alongside 390 contract employees.

Lead Manager(s)
PL Capital Markets Private Limited
Wincy Nadar/Ashwinikumar Chavan  
Telephone: +91 22 6632 2222
Email: galaprecisionipo@plindia.com
 
Strength

Diverse Product Portfolio: The Company offers a broad range of precision engineering solutions across multiple industries, showcasing its adaptability and capability to serve various market needs.

Established Relationships: With over 15 years of experience, the company has developed strong, long-term relationships with both Indian and global OEMs and Tier 1 customers, indicating reliability and trust in its offerings.

Advanced Manufacturing Facilities: The Company operates well-equipped manufacturing facilities with in-house design capabilities, providing scale, flexibility, and comprehensive solutions that support its growth and competitiveness.

Weakness

Customer Dependency: The Company’s reliance on key customers means that losing any of them or experiencing a significant drop in their demand could severely impact its financial health and operational performance.

Legal Vulnerability: The ongoing patent infringement lawsuit poses a risk of financial and strategic setbacks, potentially affecting the company's business operations and growth trajectory.

Lack of Exclusivity: The absence of exclusivity agreements with customers and suppliers could lead to competitive pressures and supply chain uncertainties, impacting the company’s market position and operational stability.

Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: galaprecision.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html