Gala Precision Engineering sets price band of Rs 503-529 a share for IPO

In conversation with Mr Kirit Gala , Chairman & MD and Mr B.S Jalan, Director, Gala Precision Engineering Ltd.
Gala Precision Engineering Limited is a precision component manufacturer of technical springs like disc & strip springs (“DSS”); coil & spiral springs (“CSS”) and special fastening solution (“SFS”), has fixed the price band of ₹503/- to ₹529/- per Equity Share of face value ₹10/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Monday, September 02, 2024, for subscription and close on Wednesday, September 04, 2024. Investors can bid for a minimum of 28 Equity Shares and in multiples of 28 Equity Shares thereafter.

The IPO consists of fresh issue of up to 25,58,416 equity shares and an offer for sale (OFS) of up to 6,16,000 equity shares by Promoter Group Selling Shareholders and Individual Selling Shareholders.

The proceeds from the fresh issue, to the extent of Rs 370 million for setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts; Rs 110.69 million for funding capital expenditure requirements towards purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra; Rs 454.30 million for repayment/ prepayment, in full or part, of certain borrowings availed by the Company; and general corporate purposes.

Led by Kirit Vishanji Gala, Gala Precision is a technology-driven company with a strong focus on quality, design tool development, and application engineering. It has more than 3 decades of experience in developing customized products to meet the evolving needs of its customers and commands an approximation of 15% market share in the domestic SFS market for wind turbines.

The Company supplies its products to original equipment manufacturers (“OEMs”), Tier 1 and channel partners; used in sectors like renewable energy including wind turbine and hydro power plants, various industrial sectors such as electrical, off highway equipment, infrastructure and general engineering, mobility segments such as automotive and railways.

Its technical springs and high tensile fasteners have been supplied to customers in countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden, Switzerland etc. Accordingly, it is a key link in the global supply chain for OEMs. #IpoAlert #Ipo #GalaPrecisionEngineering #Gala #Engineering #Precision #Europe #OEMs #Sustainability #Sustainable #Worldclass #Entrepreneurs #Entrepreneurship #Leaders #Leadership #Solar #Wind #Turbines #Germany #Denmark #Europe #Industrial #Industries #Clients #Hydropowerplant Gala Precision Engineering Ltd. Kirit Gala Balkishan Jalan #ValueCreation #value #Investors #Invest #BSE #NSE #markets #capital #Shares