Gala Precision Engineering IPO: The share allotment for the IPO is expected to be finalised on September 5. Investors showed overwhelming interest in the public offering, bidding for 44.79 crore shares, far exceeding the 22.23 lakh shares available.
Gala Precision Engineering received an overwhelming response from investors during the subscription period. The IPO is all set to hit the Dalal street on September 9. Check out the application status by following these steps
Gala Precision Engineering IPO: The share allotment for the IPO is expected to be finalised on September 5. Investors showed overwhelming interest in the public offering, bidding for 44.79 crore shares, far exceeding the 22.23 lakh shares available.
Non-institutional investors led the charge by placing bids 414.62 times the shares on offer. Meanwhile, Qualified Institutional Buyers (QIBs) subscribed 232.54 times and retail investors bid 91.95 times the allotted quota.
The bidding was open from September 2 (Monday) to September 4 (Wednesday). The company offered shares in a fixed price range of Rs 503-529 each, with a lot size of 28 shares. Gala Precision Engineering raised a total of Rs 167.93 crore through the IPO, including both fresh and an offer-for-sale (OFS).
Here's how you can check your allotment status-
1. Visit the official NSE website at https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
2. Log in using your credentials.
3. Enter your application number and Pan card number
4. Your application status will be displayed on the screen.
To check your allotment status on BSE, follow these steps-
1. Visit the official BSE website at https://www.bseindia.com/investors/appli_check.aspx
2. Under the 'Issue Type' section select- Equity.
3. Under the issue name, click on Galal Precision and Engineering
4. Enter your PAN and application number.
5. Click 'Submit' to view the results.
What does Gala Precision Engineering do and what is the current GMP?
The company is involved in the manufacturing process of specialized precision parts. It produces components like disc springs and strip springs, which are essential for sectors such as renewable energy and mobility space.
Gala Precision Engineering's GMP (Grey Market Premium) indicated a robust debut on D-street. As per GMP tracking website, the unlisted shares of the company were trading at a premium of around Rs 260 or 50 per cent (roughly) above the upper end of the IPO price.