Gala Precision Engineering enters listed space; catch latest details here
Gala Precision Engineering Listing News: Maharashtra-headquartered precision components maker Gala Precision Engineerings shares debuted on a strong note in the secondary market on Monday, September 9.
Gala Precision Engineering Listing News: Maharashtra-headquartered precision components maker Gala Precision Engineering's shares debuted on a strong note in the secondary market on Monday, September 9. On BSE, the stock opened for the first time at Rs 750 apiece, translating to a premium of 41.8 per cent over the price range of its blockbuster IPO. On NSE, the stock began its journey at Rs 721.1 apiece, marking a premium of 36.3 per cent.
The stock continued to build on its stellar secondary market debut. At 10:52 am, Gala Precision Engineering (GALAPREC) shares were trading at Rs 770 and Rs 757.2 apiece on BSE and NSE, respectively. The just-listed stock gained to as high as Rs 787 and Rs 757.2 apiece on the exchanges, respectively, a premium of as high as 48.8 per cent.
Gala Precision Engineering's IPO concluded on September 4 with a subscription of more than 201 times the shares on offer. With that, the IPO emerged as the second most chased IPO of 2024 so far.
| Category | Subscription (No. of times the equity reserved) |
| Qualified institutional buyers (QIBs) | 232.5 |
| Non-institutional investors (NIIs) | 414.6 |
| Retail investors | 92 |
| Employees | 259 |
| Total | 201.4 |
Under the IPO, which was open for subscription from September 2 to September 4, Gala Precision Engineering shares were available for bidding in the range of Rs 503-529 per unit in lots of 28 shares.
What does Gala Precision Engineering do?
Thane-based Gala Precision Engineering is a specialist in the design and manufacture of a host of precision components including high tensile fasteners, disc and strip springs, coil and spiral springs, and wedge lock washers.
The company counts major original equipment manufacturers (OEMs) as its primary clientele spanning diverse industries including renewable energy and mobility.
Gala Precision Engineering serves more than 175 global customers across more than 25 countries including Germany, Denmark, China, Italy, Brazil, the US, Sweden, and Switzerland.
Foreign markets contribute about 40 per cent to Gala Precision Engineer's sales, according to its website.
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