Gallard Steel IPO Subscription Day: 1 Check Online
Posted by : sachet | Wed Nov 19 2025
Check Expert’s Verdicts on Gallard Steel IPO.
Here is the Gallard Steel IPO launched on 19th November 2025. Bidding for the issue will close on 21st November 2025. The primary aim of the Gallard Steel IPO is to raise ₹500.00 crores from the market. Additionally, the Gallard Steel IPO has received strong subscription levels, indicating that the shares will likely be listed at a premium. Scroll down to check the Gallard Steel IPO subscription and details.
Gallard Steel IPO Details
| IPO Open Date | 19th November 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹142 to ₹150 per share |
| Lot Size | 1,000 shares |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE & SME |
| IPO Close Date | 21st November 2025 |
| Listing Date | 26th November 2025 |
The price band for the Gallard Steel IPO has been set at ₹142 to ₹150 per share, Let’s segregate the share quota fixed for different categories of investors.
| Categories | Shares Offered | % shares offered |
| Market Maker Shares Offered | 1,25,000 | 5.00% |
| QIB Shares Offered | 11,83,000 | 47.32% |
| NII (HNI) Shares Offered | 3,60,000 | 14.40% |
| Retail Investors Offered | 8,32,000 | 33.28% |
| Total Shares Offered | 25,00,000 | 100.00% |
Gallard Steel IPO Subscription Status
As of now, the Gallard Steel IPO has been subscribed to 1.58 times. Of these, 1.35 times are subscribed by retail investors, 4.20 times by non-institutional investors, and 0.00 times by QII (Qualified Institutional Investors).
The healthy subscription status indicates that investors expect higher returns at the time of the Gallard Steel IPO, scheduled to list on 26th November 2025. Tenneco Clean Air India’s IPO also has a positive outlook, with the fresh issue of 0.25 crore shares to raise around Rs 37.50 crores.
Gallard Steel IPO GMP Today
We know that higher subscription levels drive grey-market premiums for IPOs. Let’s explore the Gallard Steel IPO GMP for 19th November 2025.
The grey market premium for this IPO is 10.67% or Rs 16 per share. It indicates that the estimated listing price per share is Rs 166. Numerous factors played a pivotal role in the jump in Gallard Steel’s GMP. These include higher subscription rates, favourable market sentiment, and investors’ positive attitude towards IPOs.
| GMP Date | IPO Price | GMP | Estimated Listing Price | Estimated Listing Gains |
| 19-11-2025 | ₹150.00 | ₹16.00 | ₹166.00 | 10.67% |
| 18-11-2025 | ₹150.00 | ₹11.00 | ₹161.00 | 7.33% |
| 17-11-2025 | ₹150.00 | ₹11.00 | ₹161.00 | 7.33% |
| 16-11-2025 | ₹150.00 | ₹11.00 | ₹161.00 | 7.33% |
| 15-11-2025 | ₹150.00 | ₹11.00 | ₹161.00 | 7.33% |
| 14-11-2025 | ₹150.00 | ₹0.00 | ₹150.00 | 0.00% |
| 13-11-2025 | ₹150.00 | ₹0.00 | ₹150.00 | 0.00% |
About Gallard Steel IPO Ltd.
Incorporated in 2015, Gallard Steel Limited is engaged in the manufacturing of engineered steel castings, including mild steel, SGCI, and low alloy castings.The company manufactures ready-to-use components, assemblies, and subassemblies for Indian Railways, the defence sector, power generation, and allied industries, providing high-quality solutions across various sectors. Manufacturing operations are carried out at the foundry, located in Pithampur, Dhar, Madhya Pradesh, spanning a land area of 12,195 square meters and certified to ISO 9001:2015. The company utilises a range of in-house machinery and equipment to support processes such as melting, heat treatment, grinding, moulding, sand mixing and finishing.
- In-house manufacturing facilities
- Diverse Customer base
- Wide Geographical reach
- Stringent quality control mechanism ensures standardised product quality
Gallard Steel Limited Financials
The company’s financial analysis is essential before applying for Gallard Steel Limited’s IPO. Refer to the table to learn about Gallard Steel Limited’s financial information.
| Year Ended | 30th September 2025 | 31st March 2025 (in cr.) | 31st March 2024 (in cr.) |
| Assets | 50.33 | 48.77 | 39.14 |
| Revenue | 32.14 | 53.52 | 27.86 |
| Profit After Tax | 4.29 | 6.07 | 3.20 |
| EBITDA | 7.42 | 12.47 | 5.07 |
| Net Worth | 21.38 | 17.08 | 11.03 |
| Reserve and Surplus | 14.38 | 10.08 | 4.03 |
| Total Borrowing | 19.13 | 20.38 | 17.59 |
Explanation
Gallard Steel Limited’s revenue increased by 92% from ₹6.07 crore in March 2024 to ₹4.29 crore in March 2025. Moreover, the company’s PAT increased by 90% from ₹6.07 crores to ₹4.29 crores. Investors can analyse other relevant factors and make a decision accordingly.
Technical Indicators
Several technical indicators are available to assess a company’s potential to deliver returns. Use the parameters mentioned below to analyse the technical aspects of the Gallard Steel IPO.
| Key Indicators | Value |
| PE Ratio (Price-to-Earnings) | 17.31 |
| EPS (Earnings Per Share) | 8.67 |
| RoNW | 35.51% |
| ROCE | 26.59% |
| ROE | 43.16% |
| EBITDA Margin | 23.39% |
| Price to Book Value | 6.15 |
| Market Capitalisation | ₹142.50 Cr |
Gallard Steel IPO Listing Expectations
Gallard Steel IPO Highlights: IPO allotment is still pending, as the bid closes today. However, given the current GMP or market sentiment, it is reasonable to expect higher listing gains for the share. A 10.67% flat in the GMP of Gallard Steel IPO suggests that the estimated listing price per share will be around Rs 166.
It will provide higher listing gains to investors who applied for this IPO. Also, the financial fundamentals of this business made it the experts’ top long-term recommendation.
Gallard Steel IPO Dates
| IPO Open Date | 19th November 2025 |
| IPO Close Date | 21st November 2025 |
| Allotment | 24th November 2025 |
| Refund Date | 25th November 2025 |
| IPO Listing Date | 26th November 2025 |
Note: IPO GMP is volatile, driven by market sentiment. Hence, one should conduct their research before investing in it.
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