Gala Precision Engineering IPO: The mainboard initial public offering (IPO) of precision components manufacturer Gala Precision Engineering Limited
The IPO consists of a fresh issue of up to 25,58,416 equity shares and an offer for sale (OFS) of up to 6,16,000 equity shares by the promoter group and individual selling shareholders. The price band for the offer has been determined at ₹503 – ₹529 per equity share.
The IPO will fetch ₹167.93 crore at the upper end of the price band. Investors can bid for at least 28 equity shares and in multiples of 28 equity shares thereafter. The floor price is 50.3 times the face value of the equity shares, and the cap price is 52.9 times the face value of the equity shares.
Gala Precision Engineering IPO has reserved not more than 50 per cent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional Institutional Investors (NII), and not less than 35 per cent of the offer is reserved for retail investors.
