Gala Precision Engineering IPO listing date in focus. GMP signals strong listing gain for allottees

Gala Precision Engineering IPO Listing: The initial public offering (IPO) of precision components manufacturer Gala Precision Engineering Ltd has been heavily oversubscribed. As the Gala Precision Engineering IPO allotment has been finalised, applicants now watch out for the share listing next week.

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

After receiving strong demand from investors, Gala Precision Engineering IPO allotment has been finalised today and investors who have received the share allotment look forward to the IPO listing.

In order to gauge the listing price, investors look at 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.

Here’s what Gala Precision Engineering IPO GMP ahead of listing indicates:

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 ₹292 per share. This indicates that Gala Precision Engineering shares are trading higher than ₹292 in the grey market as compared to its IPO 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 ₹821 per share, which is at a premium of 55% to the issue price of ₹529 per share.

It is to be noted that the grey market premium is just an indicative price and should not be used for making investment decisions.

Gala Precision Engineering IPO Details

Gala Precision Engineering IPO opened for public subscription on Monday, September 2, and closed on Wednesday, September 4. Gala Precision Engineering IPO allotment date is today and the company has finalised the basis of allotment.

Gala Precision Engineering IPO listing date is September 9 and 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 aggregating to ₹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 led by strong demand. The issue was booked 201.41 times in total, with the Retail category getting 91.95 times subscription and Non Institutional Investors (NII) portion receiving 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 of the Gala Precision Engineering IPO, while Link Intime India Private Ltd is the IPO registrar.

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