Gala Precision Engineering IPO listing date today; GMP, experts signal strong debut of shares

Gala Precision Engineering IPO Listing: The initial public offering (IPO) of precision components manufacturer Gala Precision Engineering Ltd received strong demand and was heavily oversubscribed. As the IPO allotment has been fixed, applicants now watch out for the Gala Precision Engineering IPO listing today.

Gala Precision Engineering IPO listing date is today, September 9. The equity shares of the company are slated to be listed on both the stock exchanges, BSE and NSE.

“Trading Members of the Exchange are hereby informed that effective from Monday, September 9, 2024, the equity shares of Gala Precision Engineering Limited shall be listed and admitted to dealings on the Exchange in the list of ‘T’ Group of Securities,” a notice on BSE said.

Gala Precision Engineering shares will be a part of Special Pre-open Session (SPOS) today and will be available for trading from 10:00 am.

Investors now watch out for Gala Precision Engineering IPO GMP today, or grey market premium today, ahead of the share listing. Gala Precision Engineering IPO GMP has been showing bullish trends. Stock markets analysts also expect a strong Gala Precision Engineering share listing today.

Here’s what Gala Precision Engineering IPO GMP and experts indicate:

Gala Precision Engineering IPO GMP today

Gala Precision Engineering shares are commanding a decent premium in the unlisted market. Gala Precision Engineering IPO GMP today is ₹246 per share. This indicates that Gala Precision Engineering shares are trading higher than ₹246 in the grey market as compared to its IPO price.

Gala Precision Engineering IPO listing price

Considering the Gala Precision Engineering IPO GMP today and the upper end of the IPO price band, the estimated Gala Precision Engineering IPO listing price is ₹775 per share, which is at a premium of 46% to the issue price of ₹529 per share.

Analysts also expect a strong debut of Gala Precision Engineering shares.

“Gala Precision Engineering Ltd (GPEL) saw an extraordinary demand for its offering, with a subscription rate surpassing 201 times. We anticipate a strong debut on the stock exchanges on Monday, 9th September 2024, with an expected premium of 53% above the upper band price,” said Akriti Mehrotra, Research Analyst, StoxBox.

Financially, Gala Precision Engineering’s Revenue, EBITDA, and PAT grew at a CAGR of 18.1%, 40.4%, and 83.5%, respectively, between FY22 and FY24. The company maintains a ROCE of 21.15% and ROE of 23.27% (before exceptional items).

“Therefore, we recommend that investors who have been allotted shares hold their positions from a medium to long term horizon,” Mehrotra added.

Gala Precision Engineering IPO Details

Gala Precision Engineering IPO opened for public subscription on Monday, September 2, and closed on Wednesday, September 4. The IPO allotment was finalised on September 6.

Gala Precision Engineering IPO listing date is today, September 9. The equity shares of the company will be listed on both the stock exchanges, BSE and NSE.

The company raised ₹167.93 crore from the book-built issue which was a combination of fresh issue of 25.58 lakh equity shares worth ₹135.34 crore and offer for sale (OFS) of 6.16 lakh shares worth ₹32.59 crore. The shares were sold at a price band of ₹503 to ₹529 apiece in the IPO.

Gala Precision Engineering IPO was heavily oversubscribed as the issue received 201.41 times subscription in total. The Retail category was booked 91.95 times and the Non Institutional Investors (NII) portion received 414.62 times subscription. Qualified Institutional Buyers (QIBs) category was booked 232.54 times.

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

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.