Gallard Steel IPO Details
The key details of Gallard Steel’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹37.50 Cr |
| Price Range | ₹142 - ₹150 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | BSE |
| Minimum Quantity | 2,000 |
| Investment (cut-off price) | ₹3,00,000 |
| Pre IPO Promotor Holding | 91.14% |
| Post IPO Promotor Holding | Update soon |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Gallard Steel IPO Timelines
The IPO process for Gallard Steel includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
19/11/2025
Start Date21/11/2025
End Date25/11/2025
Refund Initiation25/11/2025
Credit of Shares to Demat Ac26/11/2025
Listing DateGallard Steel IPO Lot Size
The Gallard Steel IPO has a fixed lot size of 1,000 shares, at an upper price band of ₹150 per share. For retail investors, the minimum and maximum application is 2,000 shares (2 lots) amounting to ₹3,00,000. For Small HNI (S-HNI) investors, the minimum application is 3,000 shares (3 lots) worth ₹4,50,000, while the maximum is 6,000 shares (6 lots) amounting to ₹9,00,000. Big HNI (B-HNI) investors need to apply for at least 7,000 shares (7 lots), totaling ₹10,50,000.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2000 | ₹3,00,000 |
| Retail Maximum | 2 | 2000 | ₹3,00,000 |
| S-HNI Minimum | 3 | 3000 | ₹4,50,000 |
| S-HNI Maximum | 6 | 6000 | ₹9,00,000 |
| B-HNI Minimum | 7 | 7000 | ₹10,50,000 |
Gallard Steel IPO Subscription Status
The subscription status for Gallard Steel IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 228.48x | 624.56x | 351.58x | -- | 375.54x |
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
Gallard Steel IPO Company Financials
Gallard Steel reports robust performance in FY2025 with Total Income of ₹535.24 crores, managing expenses at ₹451.03 crores, and achieving a strong PAT (Profit After Tax) of ₹60.67 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2024 | ₹278.61 | ₹241.91 | ₹31.96 |
| FY 2025 | ₹535.24 | ₹451.03 | ₹60.67 |
| FY 2026 (3 M) | ₹321.35 | ₹265.61 | ₹42.93 |
About Company
Incorporated in 2015, Gallard Steel Limited specializes in the manufacturing of engineered steel castings, including mild steel, SGCI, and low alloy castings. The company produces ready-to-use components, assemblies, and subassemblies for sectors such as Indian Railways, defence, power generation, and allied industries, delivering high-quality and reliable solutions. Its manufacturing facility is located in Pithampur, Dhar, Madhya Pradesh, covering 12,195 square meters and certified to ISO 9001:2015 standards. Equipped with advanced machinery, the plant supports key processes such as melting, heat treatment, grinding, moulding, sand mixing, and finishing.
Gallard Steel Limited manufactures a wide range of products catering to multiple industries. These include steel components, traction motor and bogie components for the railway sector, cradle assemblies, recoiling cylinders, and trunnion housings for defence applications, as well as guide vanes, bush housings, and fork systems for thermal and hydro turbines. The company also produces high-temperature resistance liners for industrial machinery and recycled rebonded foam used in furniture, mattresses, and various industrial products.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2015 | Steel | Zakiuddin Sujauddin |
Know Before Investing
Gallard Steel IPO Strengths
- Gallard Steel’s total income increased from ₹278.61 crore in FY24 to ₹535.24 crore in FY25, reflecting rapid business expansion.
- The company manufactures steel castings, forgings, and machined components catering to sectors such as railways, defence, automotive, and power.
- Their holds Class ‘A’ Foundry status from RDSO, Ministry of Railways, underlining product quality and compliance.
- Serves multiple reputed government entities and private corporates, ensuring steady orders and revenue.
- The management team has a proven track record in steel manufacturing and industrial engineering.
- Based in Indore, Madhya Pradesh, the company benefits from good connectivity and industrial ecosystem access.
Gallard Steel IPO Risks
- Demand from core sectors like railways, power, and defence can fluctuate with macroeconomic and government spending cycles.
- Prices of steel, alloys, and other inputs are subject to global and domestic fluctuations, impacting margins.
- A few large government and corporate customers contribute a significant portion of business revenue.
- Faces intense competition from larger steel casting and forging companies domestically and internationally.
- Requires significant inventories and receivables, potentially straining liquidity during low demand periods.
- Adhering to environmental, labour, and industrial regulations can result in operational delays and increased costs.
Swot Analysis for Gallard Steel IPO
Strengths
Robust Manufacturing Facilities, Customer Base Diversity, Strong Financial Growth
Weaknesses
Geographic Concentration, Raw Material Price Sensitivity, Dependency on Key Sectors
Opportunities
Government Infrastructure Push, Emerging Industry Applications, Process Automation
Threats
Intense Industry Competition, Trade Policy Risks, Economic Sensitivity
Company Details
Gallard Steel Ltd.
Flat No. 01, Sukh Sneh Apartment, 168-M Khatiwala Tank, Indore, Madhya Pradesh, 452014
Phone: +91-9644422252
Email: cs@gallardsteel.com
Website: https://www.gallardsteel.com/
IPO Registar Details
Ankit Consultancy Pvt. Ltd.
Phone: 0731 – 491 298 / 492 698
Email: compliance@ankitonline.com
Website: https://www.ankitonline.com/
FAQs
The key objectives of Gallard Steel SME IPO are:
- Funding of capital expenditure towards expansion of the existing manufacturing facility and construction of office Building
- Repayment of a portion of certain borrowings availed by the Company
- General Corporate Purpose
Seren Capital Pvt. Ltd. is the book-running lead managers for the Gallard Steel IPO.
Gallard Steel IPO presents strong growth potential driven by rising demand from railways and defense sectors supported by government infrastructure initiatives. Capacity expansion through IPO funds and diversification into automotive and heavy engineering segments position the company for sustainable growth and enhanced market presence in specialized steel components.
The issue price for the Gallard Steel IPO is set between ₹142 to ₹150 per share.
To invest in two lot of Gallard Steel IPO, you need ₹2,84,000 at the lower price band (₹142 per share) or ₹3,00,000 at the upper price band (₹150 per share) for a lot size of 2000 shares.
Gallard Steel IPO shares are scheduled to be listed on the Bombay Stock Exchange (BSE) on November 26, 2025.
Refund/unblocking of funds for Gallard Steel IPO will begin on November 25, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Gallard Steel IPO shares on listing day (November 26, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.