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Gallard Steel IPO

Open Sme
BSE 19 November - 21 November 2025
Gallard Steel Limited IPO is a book build issue of 37.5 Cr. Gallard Steel Limited IPO opened for subscription on Nov 19, 2025 and closed on Nov 21, 2025. The allotment for the this IPO was finalized on Nov 24, 2025. IPO was listed on NSE and BSE on Nov 26, 2025. Gallard Steel Limited IPO is set issue price band at ₹142 to ₹150 per share.

Current GMP

₹63 (+42.00%)

Price Band

₹ 142 – 150

Lot Size

1000

Issue Size

₹37.5 Cr

Minimum Investment

₹300000 (2000 Shares)

Listing Date

26 November 2025

Subscription

375.62x

About the Company

Gallard Steel Limited, incorporated in 2015, is a leading manufacturer of engineered steel castings including mild steel, SGCI (Spheroidal Graphite Cast Iron), and low alloy steel castings. The company specializes in the production of ready-to-use components, assemblies, and sub-assemblies catering to a wide range of industries such as Indian Railways, Defence, Power Generation, and Heavy Engineering.

With a strong focus on quality, innovation, and precision engineering, Gallard Steel delivers high-performance casting solutions designed to meet the demanding requirements of its clients across critical sectors.

Manufacturing Facility

Gallard Steel’s state-of-the-art foundry is located in Pithampur, District Dhar, Madhya Pradesh, covering a total land area of 12,195 square meters. The facility is ISO 9001:2015 certified, ensuring stringent adherence to quality management systems and international standards.

The plant is equipped with a comprehensive range of in-house machinery and equipment supporting key operations such as:

  • Melting and Pouring
  • Moulding and Sand Mixing
  • Heat Treatment and Grinding
  • Machining and Finishing

This integrated infrastructure enables Gallard Steel to maintain complete control over its manufacturing processes, ensuring consistent product quality and timely delivery.

Product Portfolio

1. Steel Components

Manufacture of unmachined and machined steel components tailored for diverse industrial applications, offering superior strength, durability, and dimensional accuracy.

2. Traction Motor & Bogie Components

Production of traction motor frames, bogie components, and other assemblies used in railway rolling stock, ensuring reliability and performance in heavy-duty operations.

3. Defence Components

Design and manufacture of critical defence-grade components such as cradle assemblies, recoiling cylinders, and trunnion housings, meeting stringent military standards and specifications.

4. Thermal & Hydro Turbine Sub-Assemblies

Engineering of precision sub-assemblies for thermal and hydro power turbines, including guide vanes, bush housings, and fork systems, contributing to efficient power generation.

5. Industrial Machinery & Equipment

Supply of high-temperature resistant liners and components for industrial machinery, enhancing equipment performance and service life in demanding operational environments.

6. Rebonded Foam

Production of recycled rebonded foam utilized in furniture, mattresses, and industrial applications, reflecting the company’s commitment to sustainability and resource efficiency.

Key Industries Served

  • Railways
  • Defence
  • Power Generation (Thermal & Hydro)
  • Heavy Engineering
  • Industrial Equipment Manufacturing

Promoters

  1. Zakiuddin Sujauddin
  2. Hakimuddin Ghantawala
  3. Kaid Johar Kalabhai
  4. Zahabiya Kalabhai 
  5. Mariya Zakiuddin Sujauddin 
Promoters Holding

Holding Pre Issue

91.14%

Holding Post Issue

0.00%

Objects of the Issue

The Company Gallard Steel IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.

  1. Funding of capital expenditure towards expansion of our existing manufacturing facility and construction of office Building 
  2. Repayment of a portion of certain borrowings availed by our Company 
  3. General Corporate Purpose 

Address / Contact Info

Gallard Steel Ltd.
Flat No. 01,
SukhsnehApartment,
168-M Khatiwala Tank
Indore, Madhya Pradesh, 452014
Phone: +91-9644422252
Email: cs@gallardsteel.com
Website: https://www.gallardsteel.com/

IPO Snapshot

Face Value₹10 per share
Price Band₹ 142 – 150
Lot Size1000
Issue TypeBook-building IPO
Sale TypeFresh Capital
Fresh Issue₹ 0.00 Cr
Offer for Sale₹ 0.00 Cr
Total Issue Size₹ 37.50 Cr
Listing AtBSE
IndustryEngineering - Industrial Equipments
SectorInfrastructure
QIB Quota28.45%
BNII Quota14.41%
SNII Quota7.2%
Retail Quota49.94%

Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.

Frequently Asked Questions

Everything you need to know before applying to an IPO.

Gallard Steel IPO is a Book-building IPO worth ₹37.5 crores. The price band is ₹142 to 150 per share. The IPO opens on Wed, Nov 19, 2025 and closes on Fri, Nov 21, 2025. It will be listed on BSE and NSE. Ankit Consultancy Pvt.Ltd. is the registrar.

The Gallard Steel IPO opens on Wed, Nov 19, 2025 and closes on Fri, Nov 21, 2025

Gallard Steel IPO Price Band is ₹142 to 150.

Gallard Steel IPO lot size is 1000, and the minimum amount required for application is ₹300000.

The minimum investment for Gallard Steel IPO is approximately ₹300000 based on the upper price band.

To apply for the Gallard Steel IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Nov 21, 2025. After submission, funds are blocked until the basis of allotment of Gallard Steel IPO is finalised.

Gallard Steel IPO issue size is ₹37.5 crores.

Gallard Steel IPO allotment date is Sat, Jun 27, 2026.

The registrar for Gallard Steel IPO is Ankit Consultancy Pvt.Ltd.. Investors can go to Ankit Consultancy Pvt.Ltd. website for IPO allotment status, refund processing, and other queries related to Gallard Steel IPO through their official website or helpline.

The Gallard Steel IPO GMP (Grey Market Premium) is ₹63 as of Wed, Nov 26, 2025. Based on the upper price band of ₹150 per share, the estimated Gallard Steel IPO listing price is ₹213, indicating a potential listing gain of approximately 31% over the issue price.