Gala Precision Engineering IPO: Share Listing Set to Soar with Strong GMP Hints at Major Gains

The initial public offering (IPO) of Gala Precision Engineering Ltd, which makes precision components, has been a huge success. The IPO was heavily oversubscribed, and now investors are eagerly waiting for the share listing next week.

The Gala Precision Engineering IPO listing is expected to happen on September 9. The company’s shares will be listed on both the BSE and NSE.

With the IPO allotment finalised today, those who received shares are now keenly anticipating the listing. To estimate the listing price, investors are looking at the Gala Precision Engineering IPO GMP (grey market premium) today. The GMP is showing positive trends.

Here’s what the Gala Precision Engineering IPO GMP today indicates:

GMP Today

Gala Precision Engineering shares are currently trading at a significant premium in the grey market. The GMP today is ₹292 per share. This suggests that shares are expected to trade higher than ₹292 compared to the IPO price.

Based on the GMP and the upper end of the IPO price range, the estimated listing price for Gala Precision Engineering shares is ₹821 per share. This would be a 55% premium over the issue price of ₹529 per share.

It’s important to note that the grey market premium is only an estimate and shouldn’t be solely relied upon for making investment decisions.

IPO Details

The Gala Precision Engineering IPO was open for public subscription from Monday, September 2, to Wednesday, September 4. The allotment of shares has been finalised today. The shares are set to be listed on both the BSE and NSE on September 9.

The company raised ₹167.93 crore from this IPO. The offer included a fresh issue of 25.58 lakh equity shares worth ₹135.34 crore and an offer for sale (OFS) of 6.16 lakh shares, amounting to ₹32.59 crore. The shares were offered at a price band of ₹503 to ₹529 each.

The IPO was significantly oversubscribed due to high demand. The overall issue was subscribed 201.41 times. The Retail category was subscribed 91.95 times, while the Non-Institutional Investors (NII) portion received a subscription of 414.62 times. The Qualified Institutional Buyers (QIBs) category was booked 232.54 times.

PL Capital Markets Pvt Ltd is the book-running lead manager for the Gala Precision Engineering IPO, and Link Intime India Private Ltd is the IPO registrar.