Gala Precision Engineering Limited, a manufacturer of precision engineering components, is set to list its shares on the stock exchanges today at 10 AM. The shares are expected to debut at ₹721.10, representing a significant premium of 36.31% over the issue price of ₹529 per share.
The IPO, which opened for subscription from September 2-4, 2024, receives an overwhelming response from investors, with the issue being subscribed 201.41 times. The offering consists of a fresh issue of ₹135.34 crore and an offer for sale of ₹32.59 crore, aggregating to a total issue size of ₹167.93 crore.
The strong anticipated listing performance reflects investor confidence in the company’s growth prospects and its ability to capitalize on the increasing demand for precision engineering components across various industries. Gala Precision Engineering focuses on quality, innovation, and customer satisfaction, positioning it well in the market.
The company plans to utilize the proceeds from the IPO to fund its expansion plans, including setting up a new manufacturing facility and upgrading its existing operations. This strategy enables Gala Precision Engineering to enhance its production capacity and cater to the growing needs of its customers.
As the listing approaches, investors eagerly await the debut of Gala Precision Engineering on the stock exchanges, which is expected to highlight the strength of the Indian capital markets and the appetite for well-performing companies.
