Gallard Steel IPO GMP

November 19, 2025 Written By Mihir Gohel, Reviewed and Fact Checked by Harpal Parmar

Gallard Steel IPO opens for subscription on November 19, 2025, and closes on November 21, 2025, with shares expected to list on BSE SME on November 26, 2025. The IPO is a fresh issue of ₹37.50 crore, with a price band of ₹142 to ₹150 per share and a lot size of 1,000 shares. Gallard Steel is a leading manufacturer of steel castings and components for the railway and defense sectors, holding Class ‘A’ Foundry Status from RDSO and supplying key locomotive and traction motor parts. Gallard Steel IPO offers investors exposure to India’s industrial and infrastructure growth, backed by a strong client base and expansion plans.

₹70

Latest IPO GMP

Last updated on 22 Nov 2025 19.00

₹150

IPO Offer Price

*cut off price

₹

Listing Price

Listing Date 26/11/2025

Expert Opinions

Market sentiment for Gallard Steel IPO is positive, reflecting strong interest in the company’s growth as a leading SME manufacturer of steel castings for railways and defense. Company strengths include a robust client base, Class ‘A’ Foundry Status from RDSO, and a 92% revenue increase with a 90% rise in profit after tax (PAT) in FY 2025. Risks involve sector cyclicality, raw material price volatility, and execution challenges in expansion.

Valuation analysis for Gallard Steel IPO in 2025 shows a Return on Equity (ROE) of 43.16%, ROCE of 26.59%, and a Net Asset Value (NAV) of ₹24.40, indicating strong profitability and asset efficiency. The IPO offers a solid long-term investment opportunity for investors seeking exposure to India’s industrial and infrastructure growth, with potential for steady returns as the economy expands.

Investor Considerations

Gallard Steel IPO investors can consider the company’s strong financial performance, with revenue increasing 92% and profit after tax (PAT) rising 90% in FY 2025. The sector outlook is positive, driven by robust demand for steel castings in railways, defense, and heavy engineering. Valuation analysis for Gallard Steel IPO in 2025 shows a Price to Book Value of 6.15, PAT Margin of 11.38%, and a Debt/Equity ratio of 1.19, indicating solid profitability and moderate leverage.

Growth prospects are supported by expansion plans and a diversified client base. Risks include sector cyclicality, raw material price volatility, and execution challenges. The IPO is best suited for long-term investors seeking exposure to India’s industrial growth, while short-term investors should monitor sector volatility and execution risks.