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.

Table of Contents

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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