Upcoming IPO: Gallard Steel IPO Opens on 19 November

Gallard Steel IPO: Key Details, Dates, and Objectives for 15 November

The Gallard Steel IPO is set to open on 19 November, marking the company’s first public fundraising initiative. This upcoming IPO will raise capital for expansion, debt repayment, and general corporate needs. Here is a complete overview for readers tracking the share market today and seeking structured information on the issue.

Public Issue Overview: Price Band and Timeline

The public issue will open on 19 November and remain available for subscription until 21 November. The company has fixed the price band at ₹142–₹150 per share. At the upper end, the offer aims to raise ₹37.5 crore.

Key Dates

• IPO Opens: 19 November
• IPO Closes: 21 November
• Allotment Finalisation: 24 November
• Listing Date: 26 November (BSE SME platform)

The issue consists entirely of a fresh offering of 25 lakh shares, with no offer-for-sale component, ensuring all proceeds go directly to the company.

IPO Size, Structure, and Fund Utilisation

Gallard Steel intends to raise capital for strategic expansion and balance sheet strengthening. The total proceeds at the upper price band stand at ₹37.5 crore, to be allocated in the following manner:

Proposed Utilisation of Funds

• ₹20.73 crore: Expansion of the existing manufacturing facility and construction of an office building
• ₹7.2 crore: Repayment or prepayment of borrowings
• Balance amount: General corporate purposes

This allocation suggests a focus on capacity enhancement and operational optimisation.

Company Overview: Business Segments and Operations

About Gallard Steel

• Established: 2015
• Location: Pithampur, Madhya Pradesh
• Nature of Business: Manufacturing of ready-to-use components, assemblies, and sub-assemblies
• Client Industries:
  • Indian Railways
  • Defence
  • Power Generation
  • Allied Industrial Sectors

The company focuses on engineering products designed for heavy and specialised industrial applications, supplying components for sectors requiring reliability and precision.

Financial Performance: Revenue and Profit Growth

Gallard Steel has recorded strong financial growth over recent years, supported by rising order volumes and expanded manufacturing activities.

FY25 (Full Year) Performance

• Profit: Over ₹6 crore, nearly double the previous year's ₹3.2 crore
• Revenue: ₹53.3 crore, up from ₹26.8 crore in the previous fiscal

The doubling of both revenue and profit reflects increased operational scale and improved utilisation of manufacturing capacity.

H1 FY26 (April–September 2025) Performance

• Profit: ₹4.3 crore
• Revenue: ₹31.6 crore

The half-year performance indicates a continuation of the growth trend.

Issue Management and Listing Platform

The IPO is being managed by Seren Capital, the sole merchant banker for the issue. Post-allotment, Gallard Steel shares will be listed on the BSE SME platform, allowing public investors to participate through the small and medium enterprises (SME) segment of the exchange.

City-Wise Snapshot of IPO Details

This table provides a quick summary of the entire issue for readers seeking fast, accessible reference.

Why the IPO Matters

The SME IPO landscape continues to attract interest as smaller industrial and engineering companies seek capital for growth. Gallard Steel’s public issue comes at a time when manufacturing demand in sectors like railways, defence, and infrastructure is expanding in India.

The company’s focus on precision engineering components positions it within segments supported by long-term national development goals. The IPO route allows it to scale operations, retire debt, and strengthen financial flexibility.