Gala Precision Engineering Listing:Another IPO has proved to be a blockbuster for investors in the year 2024. The shares of Gala Precision Engineering Limited IPO have made a strong entry in the stock market today. The company’s share was listed on BSE at a price of Rs 750, while the IPO price was Rs 509. In this regard, investors have got 42 percent return on listing. The IPO received bumper subscription from investors, while there was a craze about it in the grey market as well. You can check the share allotment status from the website of BSE and Registrar. The price band of the IPO was Rs 503 to Rs 529 per share.
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Gala Precision IPO: Was subscribed 201 times
Gala Precision Engineering Limited’s IPO received a tremendous response from investors. This IPO was subscribed 201.41 times in total. In this, the 35 percent portion reserved for retail investors was filled 91.95 times. In the NII category, the reserved 15 percent portion was filled 414.62 times, while in the QIB category, the reserved 50 percent portion received 232.54 times the bid.
Good signs were being received from GMP
There were strong indications from the grey market premium regarding the listing of Gala Precision Engineering Limited. Before the listing, the unlisted shares of the company were trading at a premium of Rs 265 in the grey market. That is, there were indications of listing at a 50 per cent premium to its upper price band of Rs 529.
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What is the company’s outlook?
Brokerage house SMIFS Capital says the global DSS and WLW market is valued at $891 million in CY23, witnessing a CAGR of 6% during CY20-23. The Indian DSS and WLW market is expected to reach a value of $138 million in FY27, witnessing a growth of 6% during FY24-27. Gala plans to increase its manufacturing capacity from 246878200 in FY24 to 246882800 metric tonnes in FY25 by building a new manufacturing facility to meet the demand.
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The company also intends to increase the manufacturing capacity of DSS and WLW products at its existing manufacturing facility at Wada, Palghar, Maharashtra. Further rapid reduction in debt will also reduce interest costs, which will have a positive impact on profitability in the coming financial year.
(Disclaimer: The views or advice on the stock are given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)
