Gala Precision Engineering IPO Subscription Status

Gala Precision Engineering IPO - Day 3 Subscription at 80.55 Times

Gala Precision Engineering's initial public offering (IPO) has garnered exceptional investor interest, with subscription rates soaring over the three days. Starting modestly on day one, the IPO witnessed a dramatic surge in demand, resulting in an impressive 80.55 times oversubscription by the close of day three. This remarkable response underscores the strong market appetite for Gala Precision Engineering's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 2nd September 2024, has seen exponential growth in investor participation across all categories. The Non-Institutional Investors (NII) segment, in particular, has shown overwhelming demand, while the Retail and Employee categories have also demonstrated strong interest. The Qualified Institutional Buyers (QIB) segment shows moderate participation.

This enthusiastic response to Gala Precision Engineering IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the precision engineering sector. The company's focus on manufacturing precision components such as disc and strip springs, coil and spiral springs, and special fastening solutions appears to have strongly resonated with investors looking for exposure to India's growing industrial sector.

Subscription Status of Gala Precision Engineering IPO for Days 1, 2, and 3:

On day 1, Gala Precision Engineering IPO was subscribed 10.96 times. By the end of day 2, the subscription status had risen to 52.41 times; on day 3, it skyrocketed to 80.55 times.

Here are the subscription details for Gala Precision Engineering IPO as of Day 3 (September 4, 2024 at 11:47:08 AM):

Total Applications: 2,197,307

Note:

"Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range. ** The portion of anchor investors is not included in the total number of shares offered.

Key Highlights:

The IPO of Gala Precision Engineering is currently subscribed 80.55 times, with exceptional demand across investor categories.
Non-Institutional Investors (NII) have shown overwhelming interest, with a subscription ratio of 221.42 times.
The Employee category has shown significant interest, with a subscription ratio of 174.23 times.
Retail investors have shown strong participation, with a subscription ratio of 62.71 times.
Qualified Institutional Buyers (QIB) have shown moderate interest, with a subscription ratio of 5.25 times.
The overall subscription trend dramatically increases day-on-day, indicating extremely high investor confidence and positive sentiment towards the issue.

Gala Precision Engineering IPO - Day 2 Subscription at 52.41 Times

Key Highlights:

On Day 2, Gala Precision Engineering's IPO was subscribed 52.41 times, with strong demand from Non-Institutional Investors (NII) and the Employee category.
Non-institutional investors showed significantly increased interest, with a subscription ratio of 133.09 times, a dramatic increase from the previous day.
The Employee category continued to show strong interest, with a subscription ratio of 119.92 times.
Retail investors showed growing interest with a subscription ratio of 44.55 times, more than tripling their subscription from the previous day.
Qualified Institutional Buyers (QIB) showed increased interest with a subscription ratio of 5.06 times.
The overall subscription trend indicated building momentum, with all investor categories showing increased participation.

Gala Precision Engineering IPO - Day 1 Subscription at 10.96 Times

Key Highlights:

• On Day 1, the IPO of Gala Precision Engineering was subscribed 10.96 times, with strong initial demand from the Employee category.
• The Employee category showed exceptional early interest with a subscription ratio of 38.95 times.
• Non-Institutional Investors (NII) showed strong initial interest with a subscription ratio of 20.80 times.
• Retail investors showed solid initial interest with a subscription ratio of 12.36 times.
• Qualified Institutional Buyers (QIB) showed initial interest with a subscription ratio of 0.86 times.
• The first-day response laid a strong foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Gala Precision Engineering IPO:

Gala Precision Engineering Limited, incorporated in February 2009, specialises in manufacturing precision components, including 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) across electrical, off-highway equipment, infrastructure, and general engineering sectors. As of 30th March 2024, Gala Precision serves over 175 customers in more than 25 countries. The company operates two manufacturing facilities in Wada District, Palghar, Maharashtra, and is setting up a new facility in Vallam-Vadagal, SIPCOT, Sriperumbudur, Tamil Nadu, focusing on high-tensile fasteners. With 294 permanent and 390 contract employees as of 30th June 2024, Gala Precision is positioned as a key player in the global precision components market, offering investors an opportunity to participate in its growth story.

Highlights of the Gala Precision Engineering IPO:

• IPO Date: 2nd September 2024 to 4th September 2024
• Listing Date: 9th September 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹503 to ₹529 per share
• Lot Size: 28 Shares
• Total Issue Size: 3,174,416 shares (aggregating up to ₹167.93 Cr)
• Fresh Issue: 2,558,416 shares
• Offer for Sale: 616,000 shares
• Issue Type: Book Built Issue IPO
• Listing At: BSE, NSE
• Minimum investment for retail investors: ₹14,812
• Minimum investment for S-HNI: ₹207,368 (14 lots, 392 shares)
• Minimum investment for B-HNI: ₹1,007,216 (68 lots, 1,904 shares)
• Book Running Lead Manager: PL Capital Markets Private Limited
• Registrar: Link Intime India Private Ltd