Gallard Steel IPO

Issue period

Opens On: 19 Nov 2025

Closes On: 21 Nov 2025

Price band

₹ 142 to 150 per equity share

Bid lot

1000 shares and in multiples thereof

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More about the IPO

Issue size	Rs. 37.50 Cr
Price band	Rs. 142 to 150 per equity share
Bid lot	1000 shares and in multiples thereof
Issue break-up	QIB - Rs. 17.75 Cr
	HNI - Rs. 5.40 Cr
	RET - Rs. 12.48 Cr
Registrar	Ankit Consultancy Pvt. Ltd.
Listing at	NSE

Company Details

Incorporated in 2015, Gallard Steel Ltd is an engineering company engaged in the manufacturing of ready-to-use components, assemblies, and subassemblies for Indian railways, defence, power generation and allied industries.

Their product portfolio includes critical components such as traction motor components and bogie assembly components for the railway sector, sub-assemblies for thermal and hydro turbines used in the power generation sector and components for industrial machinery, equipment and the defence sector.

These components are manufactured using unmachined and machined castings made from metals including carbon steel, ductile iron, grey cast iron and medium and low alloy steels. Their clientele primarily comprises companies operating in the heavy engineering, railways and defence sector. Their company holds Class ‘A’ Foundry Statthem from the Research Designs and Standards Organization (RDSO), Ministry of Railways, confirming compliance with IS: 12117:1996 (Reaffirmed 2022). In addition, they have been approved by the competent authority under Indian Railways for capacity-cum-capability assessment to develop, manufacture and supply variothem critical components for electric locomotives and traction motors, including Suspension Tubes, Axle Boxes, Gear Cases, Axle Box housing and Control Arms. They are also an approved vendor for supplying critical components for defense applications, including Cradle Assemblies and Steel Castings, as per specific technical requirements.

Their manufacturing operations are carried out at our foundry located in Pithampur, Dhar, Madhya Pradesh, spread over land area of 12,195 square meters and is ISO 9001:2015 certified. They utilize a range of in-house machinery and equipment to support processes such as melting, heat treatment, grinding, molding, sand mixing and finishing. This enables them to maintain a comprehensive production process, ensuring that our products meet the required standards for critical customer applications. In addition, they conduct in-house testing of our products using variothem equipment’s to evaluate parameters such as material composition, mechanical properties and defect detection, ensuring compliance with required client specifications.

Log in to the Mirae Asset Sharekhan app and tap the hamburger menu.
Under the EQUITY dropdown option, tap IPO/OFS/BOND to land on the IPO dashboard.
Click on the Current IPO tab and select the IPO of your choice.
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form.
Read and accept the Terms & Conditions and click on the SUBMIT button. Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well.
Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.

Note: The actual amount will be debited when the shares are allotted to you.

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

Log in to the Mirae Asset Sharekhan website and click the IPO & OTHERS menu option you see on the top-right.
From the list of Active IPOs, select the IPO of your choice
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form. Read and accept the Terms & Conditions and click on the SUBMIT button.
Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well. Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.
Your IPO order will now appear on your Mirae Asset Sharekhan Order Book, from where you can modify or cancel your IPO bid if you so wish.

Note: The actual amount will be debited when the shares are allotted to you.

How does an IPO work?

An IPO offers share market participants like you and me an opportunity to be a shareholder in an erstwhile privately held company that is now going public and being listed on the market. Historically speaking, investors who choose the right IPOs make significant returns on their investments, which increases the attraction of IPOs.

Once you are a shareholder, you are eligible to receive dividends from the company proportional to the shares you own. You can also sell your stocks for profit on the stock exchange.

In exchange for its shares, the company has an opportunity to raise huge capital to be used to further enhance its business and scale up its operations. The company also has other benefits, such as credibility; visibility; better leverage to effect mergers, acquisitions and even to procure loans at lower rates of interest.

In India, the entire IPO process is ably regulated by the Securities & Exchange Board of India (SEBI), right from the IPO filing by the company to the bidding, allotments and refunds (in case you aren't allotted shares due to oversubscription).

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Gallard Steel IPO

Issue period

Price band

Bid lot

More about the IPO

Company Details

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

How does an IPO work?

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