Gala Precision Engineering makes stellar market debut, lists 42% higher than IPO price

Gala Precision Engineering shares: Shares of Gala Precision Engineering made a stellar stock market debut on Monday, September 9. Gala Precision Engineering shares opened for trading at Rs 750, marking an upside of 42 per cent from Initial Public Offering ( IPO ) price of Rs 529 on the BSE. On the National Stock Exchange, the stock opened at Rs 721, up 36 per cent from IPO price. The stock rose as much as 43 per cent, on the National Stock Exchange, to hit an intraday high of Rs 757.15 and on the BSE, stock rose as much as 49 per cent to hit an intraday high of Rs 787.

Gala Precision Engineering shares were in very high demand during the IPO as it was subscribed a whopping 201.41 times. Gala Precision Engineering shares were in high demand among the large investors like banks and financial institutions which fall under the category of Qualified Institutional Buyers (QIBs) as the portion subscribed for them was booked 232.54 times. Portion of shares set aside for high-net worth individuals which fall under category of non-institutional investors was subscribed 415 times and pie set aside for retail investors was booked 92 times.

Gala Precision Engineering raised Rs 168 crore from the IPO which was an offer for sale worth Rs 135.34 crore and fresh issue of Rs 32.59 crore. A retail investor was allowed to bid for minimum one lot of 28 shares up to maximum of 13 lots. One lot of Gala Precision Engineering shares was priced at Rs 14,812 at the upper end of the price band.

Gala Precision Engineering Limited is a manufacturer of precision components such as disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS). The company supplies these products to original equipment manufacturers (OEMs).

The company's products are used in sectors such as electrical, off-highway equipment, infrastructure, and general engineering, as well as in mobility segments such as automotive and railway.