Gala Precision Engineering IPO opens on September 2: Check price band, lot size & more
- 28 Aug, 02:42 AM (GMT+5:30)
- 3 Min
Summary
Gala Precision Engineering IPO offer size and minimum investment
The mainboard public offer comprises a fresh issue of 25.58 lakh shares, worth ₹135.34 crore, and an offer-for-sale (OFS) component of 6.16 lakh shares, amounting to ₹32.58 crore. The Qualified Institutional Buyers (QIBs) will be allocated 50% of the shares of Premier Energies IPO. The company has reserved 35% of the issue size for retail investors and 15% for non-institutional investors (NIIs). The minimum lot size for retail investors is 28 shares and multiples thereof. This means that retail investors must invest a minimum of ₹14,812 to subscribe to this IPO.Gala Precision Engineering business model and top clients
Gala Precision Engineering Limited is a leading manufacturer of technical springs, such as disc and strip springs or DSS, which are used in renewable energy, railways, automobiles, off-highway vehicles, heavy machinery, and electrical and power equipment. The company also manufactures coil and spiral springs (CSS), as well as special fastening solutions (SFS). The CSS products are used in commercial vehicles, passenger vehicles, railways and industrial infrastructure. Gala Precision Engineering supplies these products to original equipment manufacturers (OEMs) worldwide, including Germany, Denmark, China, Italy, Brazil, the United States, Sweden, and Switzerland. The company operates two manufacturing facilities at Wada, located in Maharashtra’s Palghar. It is also setting up a new manufacturing facility in Vallam, Tamil Nadu. The key clients of the company include global OEMs, tier 1 and channel partners across sectors. Some of the big players are: John Deere India, Faiveley Transport Rail Technologies India, Brembo Brake India, BUFAB India Fasteners, Altra Industrial Motion India, Endurance Technologies Limited, Enercon GmbH, EXEDY Clutch India, Hitachi Astemo Chennai Private Limited, MSL Driveline Systems, SAL Automotive, Schaeffler India, Turbo Energy and Wuerth Industrial Services India.Gala Precision Engineering key financials
Gala Precision Engineering’s consolidated revenue from operations stood at 202 crore for the fiscal year ended 31 March 2024. The company’s net profit for the period stood at ₹22.3 crore. Between FY22 and FY24, the company saw a CAGR rise of 11% in its revenue from operations and 50% in its profit. Moreover, India’s disc & strip springs (DSS) market is expected to grow at a CAGR of 6% between FY24 and FY27, which could benefit the company.Gala Precision Engineering IPO objectives
The net proceeds of the Gala Precision Engineering IPO will be used to set up a new facility at Vallam-Vadagal in Sriperumbudur of Tamil Nadu to manufacture high tensile fasteners and hex bolts. The proceeds will also be used to fund capital expenditure requirements for the purchase of equipment, plant, and machinery at the company’s Wada units. Gala Technologies will also use the proceeds to repay/prepay certain borrowings and for general corporate purposes.Gala Precision Engineering IPO key dates
Gala Precision Engineering IPO subscription will close on September 4. The IPO share allotment status is expected to be finalised on Thursday, September 5. Initiation of refunds for unsuccessful bidders and credit of shares to the Demat accounts of successful bidders will be done on Friday, September 6. The shares will tentatively be listed on Monday, September 9, on the BSE and NSE.Take your investment to next level
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Kotak Mahindra Mutual Fund launches Kotak Nifty Midcap 50 Index Fund; details inside
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Management Commentary on Index Fund Launch
Nilesh Shah, Managing Director of Kotak Mahindra AMC, said, “At Kotak Mutual Fund, we continually strive to provide our investors with diverse investment solutions. The launch of the Kotak Nifty Midcap 50 Index Fund aligns with our commitment to offering active and passive products that cater to different risk appetites and investment horizons. While Midcap 50 Index presents a mixed landscape with varying opportunities across sectors, this index fund allows investors to gain focused exposure to a select group of top midcap companies within Nifty Midcap 150 Index. This index fund facilitates investors to capitalise on the potential of the midcap segment. However, it is important to be cognizant of proper asset allocation of your investments before investing.” Devender Singhal, Executive Vice President & Fund Manager, Kotak Mahindra AMC was of the view that, “The Kotak Nifty Midcap 50 Index Fund is an addition to our passive product line-up, catering to investors’ interest in India’s Midcap space. Midcaps play a crucial role in key sectors of our economy, from Capital Goods and finance to healthcare and information technology. While individual Midcap stocks may exhibit varying performance, this index-based approach allows investors to potentially benefit from the overall growth and innovation potential of the mid-sized companies.”Kotak Nifty Midcap 50 Index Fund
The investment objective of the Kotak Nifty Midcap 50 Index Fund is to provide returns that, before expenses, correspond to the total returns of the securities as represented by the underlying index, subject to tracking errors.Who should invest in this fund?
This NFO of Kotak Nifty Midcap 50 Index Fund is suitable for investors who are seeking long-term capital appreciation and return that corresponds to the performance of NIFTY Midcap 50 Index, subject to tracking error.Benchmark
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ICICI Prudential Mutual Fund launches India’s first ever Oil & Gas ETF
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Performance of the Index: Calendar Year Returns (%)
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The performance of the scheme will be benchmarked against Nifty Oil & Gas TRI. Since the scheme is an ETF scheme, the composition of the benchmark is such that it is most suited for comparing the performance of the scheme.Take your investment to next level
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Orient Technologies Share Price Highlights: Stock hits 5% upper circuit after listing at 39.8% premium
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Summary
- Traded volume (lakhs): 27.24
- Traded value: ₹79.87 crore
- Total m-cap: ₹1,259.25 crore
- Current price: ₹302.4 (+5%)
- Open: ₹288
- High: ₹302.4
- Low: ₹287.2
Particulars | FY22 | FY23 | FY24 |
---|---|---|---|
Revenue | ₹ 467 crore | ₹ 535 crore | ₹ 602 crore |
Net Profit | ₹ 33.4 crore | ₹ 38.2 crore | ₹ 41.4 crore |
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