Gallard Steel IPO
Open SmeCurrent 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
- Zakiuddin Sujauddin
- Hakimuddin Ghantawala
- Kaid Johar Kalabhai
- Zahabiya Kalabhai
- 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.
- Funding of capital expenditure towards expansion of our existing manufacturing facility and construction of office Building
- Repayment of a portion of certain borrowings availed by our Company
- 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
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 19 November 2025
IPO Close Date
Friday, 21 November 2025
Basis of Allotment
Monday, 24 November 2025
Initiation of Refunds
Tuesday, 25 November 2025
Credit of Shares to Demat
Tuesday, 25 November 2025
Listing Date
Wednesday, 26 November 2025 — NSE & BSE
Important Dates
Open Date
19 November 2025
Close Date
21 November 2025
Basis Of Allotment
24 November 2025
Listing Date
26 November 2025
Financial Performance (₹ in Crores)
| Particular | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 503.35 | 487.73 | 391.39 |
| Revenue | 321.35 | 535.24 | 278.61 |
| Profit After Tax | 42.93 | 60.67 | 31.96 |
| Net Worth | 213.75 | 110.28 | 110.28 |
| Reserve & Surplus | 143.75 | 100.82 | 40.28 |
| Total Borrowings | 191.31 | 203.79 | 175.91 |
EPS Pre
0.00%
EPS Post
0.00%
P/E Pre
0.00
P/E (Post Issue)
0.00x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 43.16 | 37.34 | 20.56 |
| ROCE % | 26.59 | 16.42 | 14.23 |
| Debt / Equity | 1.19 | 1.6 | 1.55 |
| RoNW % | 35.51 | 28.98 | 18.64 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 11.38 | 11.91 | 5.51 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 474000 | 28.45 | 0 |
| Non-Institutional | 360000 | 21.61 | 0 |
| BNII | 240000 | 14.41 | 0 |
| SNII | 120000 | 7.2 | 0 |
| Retail Investors | 832000 | 49.94 | 0 |
| Total | 1666000 | 100 | 0 |
Subscription Status ( Fri, 21 Nov 25 01:32 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 474000 | 108298000 | 228.48x |
| Non-Institutional | 360000 | 224965000 | 624.9x |
| Retail Investors | 832000 | 292514000 | 351.58x |
| Total | 1666000 | 625777000 | 375.62x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Gallard Steel Limited | 10 | 0.00 | 8.67 | 8.67 | 35.51 | 24.40 |
| Nitin Casting Limited | 5 | 20.33 | 24.14 | 24.14 | 15.03 | 160.63 |
| Pritika Engineering Components Ltd | 5 | 39.22 | 2.18 | 2.18 | 12.63 | 17.25 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | 300,000.00 |
| Retail (Max) | 2 | 2,000 | 300,000.00 |
| S-HNI (Min) | 3 | 3,000 | 450,000.00 |
| S-HNI (Max) | 6 | 6,000 | 900,000.00 |
| B-HNI (Min) | 7 | 7,000 | 1,050,000.00 |
Registrar
Ankit Consultancy Pvt.Ltd.
0731 - 491 298 / 492 698
ankitind@sancharnet.in
https://www.ankitonline.com
Book Running Lead Managers
- Seren Capital Private Limited
RHP Document
DRHP Document
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.