Gallard Steel IPO
Gallard Steel IPO
Overview
Gallard Steel IPO is a book build issue of ₹37.50 crores. The issue is entirely a fresh issue of 0.25 crore shares of ₹37.50 crore. Gallard Steel IPO opens for subscription on Nov 19, 2025 and closes on Nov 21, 2025. The allotment for the Gallard Steel IPO is expected to be finalized on Nov 24, 2025. Gallard Steel IPO will list on BSE SME with a tentative listing date fixed as Nov 26, 2025. Gallard Steel IPO price band is set at ₹142.00 to ₹150.00 per share . The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹3,00,000.00 (2,000 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (3,000 shares), amounting to ₹4,50,000. Seren Capital Pvt.Ltd. is the book running lead manager and Ankit Consultancy Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Asnani Stock Broker Pvt.Ltd..
Total Shares
25,00,000
Issue Size
₹37.50 Cr
Price Band
₹142 – ₹150
Lot Size
1000 shares
Min. Investment
₹3,00,000
Max. Investment
₹3,00,000
Open Date
19 Nov, 2025
Close Date
21 Nov, 2025
Allotment
24 Nov, 2025
Listing
26 Nov, 2025
Max. Investment
₹3,00,000
Announced
19 Nov, 2025
Opening Date
19 Nov, 2025
Closing Date
21 Nov, 2025
Basis of Allotment
24 Nov, 2025
Initiation of Refunds
25 Nov, 2025
Credit of Shares
25 Nov, 2025
Listing Date
26 Nov, 2025
Live GMP
Est. Listing: ₹202
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About Gallard Steel IPO
Incorporated in 2015, Gallard Steel Limited is engaged in the manufacturing of engineered steel castings, including mild steel, SGCI, and low alloy castings.
The company manufactures ready-to-use components, assemblies, and subassemblies for Indian Railways, the defence sector, power generation, and allied industries, providing high-quality solutions across various sectors.
Manufacturing operations are carried out at the foundry, located in Pithampur, Dhar, Madhya Pradesh, spannin
Gallard Steel IPO Share Price
Issue Breakdown
Shareholding
Dilution: 35.7% increase in shares
Gallard Steel IPO Promoters Holding
Gallard Steel IPO Financial Health
Gallard Steel Ltd.'s revenue increased by 92% and profit after tax (PAT) rose by 90% between the financial year ending with March 31, 2025 and March 31, 2024.
Gallard Steel IPO Lot Size
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2000 | ₹3,00,000 |
| Individual investors (Retail) (Max) | 2 | 2000 | ₹3,00,000 |
| S-HNI (Min) | 3 | 3000 | ₹4,50,000 |
| S-HNI (Max) | 6 | 6000 | ₹9,00,000 |
| B-HNI (Min) | 7 | 7000 | ₹10,50,000 |
(All values in CR)
Gallard Steel IPO Valuations
KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROE | 43.16 |
| ROCE | 26.59 |
| Debt/Equity | 1.19 |
| RoNW | 35.51 |
| PAT Margin | 11.38 |
| EBITDA Margin | 23.39 |
| Price to Book Value | 6.15 |
| Market Capitalization | 142.50 |
(All values in CR)
Gallard Steel IPO Strength & Risk
Gallard Steel IPO Strength:
- Operates in specialised steel castings used in railways, defence, and heavy engineering sectors.
- Holds recognised quality certifications, enhancing industry credibility.
- Benefits from government focus on railways, infrastructure, and defence manufacturing.
- Has in-house manufacturing capabilities that support cost control and quality consistency.
- Serves industries with long-term structural demand, providing stable business opportunities.
- Growing market presence supported by an expanding product range and customer base.
Gallard Steel IPO Risk:
- Exposed to fluctuations in demand from cyclical sectors like railways and heavy engineering.
- Faces volatility in raw material prices, which can impact margins.
- High dependence on a limited number of customers or large orders.
- Competitive industry environment with pressure on pricing and delivery timelines.
- Operational risks related to manufacturing efficiency, quality control, and capacity utilisation.
- Market sentiment and valuation pressures may affect listing performance.
Gallard Steel IPO Subscriptions Status
Gallard Steel IPO subscribed 375.54 times. The public issue subscribed 351.58 times in the individual investors category, 228.48 times in QIB (Ex Anchor), and 624.56 times in the NII category by November 21, 2025 5:34:36 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 7,09,000 | 7,09,000 | 10.64 |
| Market Maker | 1.00 | 1,25,000 | 1,25,000 | 1.88 |
| QIB (Ex Anchor) | 228.48 | 4,74,000 | 10,82,98,000 | 1 |
| Non-Institutional Buyers | 624.56 | 3,60,000 | 22,48,40,000 | 3 |
| bNII (bids above ₹10L) | 745.96 | 2,40,000 | 17,90,30,000 | 2 |
| sNII (bids below ₹10L) | 381.75 | 1,20,000 | 4,58,10,000 | 687.15 |
| Individual Investors (IND category bidding for 2 Lots) | 351.58 | 8,32,000 | 29,25,14,000 | 4 |
| Total | 375.54 | 16,66,000 | 62,56,52,000 | 9 |
Gallard Steel IPO GMP
Gallard Steel SME IPO last GMP is ₹52, last updated Nov 21st 2025 04:58 PM. With the price band of 150.00, Gallard Steel SME IPO's estimated listing price is ₹202 (cap price + today's GMP).The expected percentage gain/loss per share is 34.67%. >> Gallard Steel SME IPO Retail Subject to Sauda: ₹39500 The lowest GMP is ₹0.00, while the highest GMP is ₹52.00.
Last updated 21 Nov, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 21 Nov, 2025 | 150 | ₹52▲ | 39500 | ₹202 (34.67%) | 52000 | 21 Nov, 2025 |
| 20 Nov, 2025 | 150 | ₹40 | 30400 | ₹190 (26.67%) | 40000 | 20 Nov, 2025 |
| 19 Nov, 2025 | 150 | ₹40▲ | 30400 | ₹190 (26.67%) | 40000 | 19 Nov, 2025 |
| 18 Nov, 2025 | 150 | ₹11 | 8400 | ₹161 (7.33%) | 11000 | 18 Nov, 2025 |
| 17 Nov, 2025 | 150 | ₹11 | 8400 | ₹161 (7.33%) | 11000 | 17 Nov, 2025 |
| 16 Nov, 2025 | 150 | ₹11▲ | 8400 | ₹161 (7.33%) | 11000 | 16 Nov, 2025 |
| 15 Nov, 2025 | 150 | ₹0 | - | ₹150 (0.00%) | - | 15 Nov, 2025 |
| 14 Nov, 2025 | 150 | ₹0 | - | ₹150 (0.00%) | - | 14 Nov, 2025 |
| 13 Nov, 2025 | 150 | ₹0 | - | ₹150 (0.00%) | - | 13 Nov, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Gallard Steel IPO
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Go to IPO Section
Find Gallard Steel IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.