Gallard Steel IPO Opening Date, Price Band & Anchor Investors: All Key Details You Need

When a small but fast-growing engineering company steps into the capital market, the buzz usually starts even before the IPO hits the street.

That’s exactly what happened with Gallard Steel, whose upcoming IPO has already grabbed attention after key investors picked up shares through the anchor book.

Market Performance Overview

Gallard Steel is preparing for its public debut at a time when interest in engineering and manufacturing names is already strong.

The early anchor participation has added more visibility just ahead of the IPO opening date.

With sectors like railways, defence, and power continuing to draw investor attention, Gallard Steel’s entry has naturally sparked curiosity in the broader market conversations.

Gallard Steel IPO: Full Details at a Glance

Before the IPO hits the market, the company secured anchor investment—often seen as a confidence signal for early interest.

Anchor Investment Breakdown

On November 18, Gallard Steel raised ₹10.63 crore through its anchor book by allocating 7.09 lakh equity shares at ₹150 per share.

A total of four investors participated in this anchor round.

Here’s how the allocation looked:

• Total anchor amount: ₹10.63 crore
• Shares allotted: 7.09 lakh
• Allotment price: ₹150 per share
• Number of anchor investors: 4
• Individual allocations included:
  • ₹2.49 crore allotted to one investor
  • ₹3 crore allotted to another investor

Gallard Steel IPO Opening Date & Price Band

The company is set to tap the capital markets with a public issue scheduled to open on November 19 and close on November 21.

Here are the main IPO details:

• IPO Size: ₹37.5 crore
• Total Shares: 25 lakh shares
• Price Band: ₹142–₹150 per share
• IPO Opening Date: November 19
• IPO Closing Date: November 21

Company Profile: What Gallard Steel Does

Based in Madhya Pradesh, Gallard Steel is engaged in manufacturing cast components.

Its products cater to some of India’s critical sectors:

• Railways
• Defence
• Power generation
• Allied engineering industries

The company operates through its manufacturing facilities located in Pithampur (Madhya Pradesh).

The nature of its clients and the industries it serves ensures steady demand for cast components, which form the backbone of its business model.

Utilisation of IPO Proceeds

The company has clearly laid out how it plans to deploy the ₹37.5 crore being raised.

Here is the allocation as disclosed:

• ₹20.73 crore – Expansion of the existing manufacturing facility + construction of office building
• ₹7.2 crore – Debt repayment
• Remaining amount – General corporate purposes

This structured utilisation reflects the company’s focus on strengthening operations and improving financial efficiency.

Summary

The Gallard Steel IPO is opening with notable early traction after the company secured anchor investment worth ₹10.63 crore.

With a total IPO size of ₹37.5 crore, a price band of ₹142–₹150, and a clear utilisation plan for expansion and debt reduction, the company is preparing for its next phase of growth.

The IPO opens on November 19 and remains available for subscription till November 21, marking an important milestone for this Madhya Pradesh-based cast component manufacturer.