August 30, 2024
This is to inform you that Gala Precision Engineering Limited is coming out with a public issue to raise Rs.167.93 crore from the market.
The issue opens on September 2 and closes on September 4, 2024.
Details of the Gala Precision Engineering Limited IPO
| Company Details |
Gala Precision Engineering Limited is a precision component manufacturer of technical springs like disc & strip springs (“DSS”) including wedge lock washers; coil & spiral springs (“CSS”) and special fastening solution (“SFS”) supplying to original equipment manufacturers (“OEMs”), Tier 1 and channel partners; used in sectors like renewable energy including wind turbine and hydro power plants, various industrial sectors such as electrical, off highway equipments, infrastructure and general engineering, mobility segments such as automotive and railways (Source: 1Lattice Report). Their listed competitors include Harsha Engineers International Limited, SKF India Limited, Sundram Fasteners Limited, Rolex Rings Limited, Sterling Tools Limited and Ratnaveer Precision Engineering Limited. Their technical springs and high tensile fasteners have been supplied to customers in countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden, Switzerland etc. Accordingly, they are a key link in the global supply chain for OEMs. Their business primarily comprises of (i) springs technology division, under which they manufacture DSS including wedge lock washers (“WLW”), CSS and (ii) SFS in which they manufacture anchor bolts, studs and nuts. Their DSS products find applications in renewable energy, railways, automobiles, off highway vehicles, heavy machinery, electrical and power equipment’s. Their disc springs confirm to German DIN 2093 standards, bearing series, and customized specifications featuring variety of raw materials and surface coating options. They manufacture strip springs customised for high fatigue applications. They are mainly competing with Muhr und Bender KG, Schnorr GmbH, Christian Bauer GmbH + Co. KG in the global disc springs market and with International Industrial Springs in disc springs in India. Their CSS products are used in commercial vehicles, passenger vehicles, railways and industrial infrastructure. They have positioned themselves as a key import substitution for European springs suppliers and multinationals looking at PLI Schemes and other incentives offered by the Government. They have also entered in a new related product category called retractor springs. These springs are a critical component for safety of the passenger. They are mainly competing with Stumpp Schuele & Somappa Springs Private Limited, NHK Springs India Limited, and Muhr und Bender KG in the CSS market. Under SFS, they manufacture make to order fasteners in the form of studs, anchor bolts and nuts which has end use applications in renewable energy, railways, off-highway vehicles, electrical and heavy machinery industries. |
| Issue Period | Issue opens on: Monday, September 2, 2024 Issue closes on: Wednesday, September 4, 2024 |
| Price Band | Rs.503 to Rs.529 per equity share |
| Bid Lot | 28 equity shares and in multiple thereafter. |
| Issue Size | Rs. 167.93 crore |
| Employee Reservation | Up to 5796 Equity shares |
| Issue break-up | QIB - 50% of the net offer - Rs.83.81 crore NIB - 15% of the net offer - Rs.25.14 crore RET - 35% of the net offer - Rs.58.67 crore |
| Listing | NSE and BSE |
| Registrar | Link Intime India Private Limited |
| UPI | All NII Bidders (bids up to ₹ 5,00,000) Applications through brokers are compulsorily in UPI Mode |
| Note |
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Watch these 4 videos to know how to apply for the Gala Precision Engineering Limited IPO online easily.
Step 1: Create an UPI ID 
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Step 2: Apply for IPO online using mobile app or website 
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Step 3: Authorise UPI mandate to block payment 
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Remember these points while applying for IPOs
- With Sharekhan, you can now fill and submit your IPO application online at your convenience anytime before an issue closes. This can be done through the Sharekhan app or website.
- You will need a mobile phone with a SIM linked to your bank account offering the UPI facility and a debit card to create your UPI ID.
- Currently, UPI works on the following mobile applications:
Name of App (Supported Platforms) VPA Handle BHIM Baroda Pay (only Android) @BARODAMPAY BHIM Oriental Pay (Only Android) @obc BHIM RBL Pay (Android & iOS) @rbl BHIM (android & iOS) @upi BHIM ALLBANK UPI (only Android) @allbank BHIM Axis Pay (only android) @axisbank BHIM IndusPay (only Android) @indus BHIM Lotza UPI (only Android) @federal BHIM SBIPay (only android) @sbi Citi Mobile (android & iOS) @citi & @citigold Google Pay (android & iOS) @okhdfcbank | @okaxis | @oksbi | @okicici HSBC Simply Pay (android & iOS) @hsbc iMobile by ICICI Bank (android users) @icici Kotak Mobile Banking App (Android) @kotak Phone-Pe (android & iOS) @ybl SIB Mirror+ (only Android) @sib BHIM YES PAY (only Android) @yesbank DigiBank - DBS (Android & iOS @dbs Paytm (Andriod & iOS) @paytm BHIM AUPay (Android & iOS) @aubank Freecharge (Android & iOS) @freecharge BHIM BANDHAN UPI (Android & iOS) @bandhan BHIM KBL UPI (Android) @kbl Phone-Pe (Android & iOS) @ybl, @axl, @ibl - To avoid rejection, download the latest version of the app.
- Remember to select UPI as the payment option in the IPO application form by providing your UPI ID.
- As soon as you submit your application through the mobile app or website, you will receive an SMS from National Payments Corporation of India (NPCI) informing you that your UPI mandate has been generated.
- The app passcode and the UPI PIN can be different; remember to enter only the UPI PIN while authorising the UPI mandate. Note that you should not share your UPI PIN with anyone.
- If you forget the UPI PIN, simply reset it instead of entering a wrong one.
- If the transaction gets through, you will receive a “Transaction is successful” message on your mobile.
- There are two possible scenarios post-allotment: On full allotment, funds will be debited from your account. If there is no allotment of shares, the blocked funds will be released after the end date or expiry date of the UPI mandate.
| Published by Team Internal Communications |  |
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