Gulf Lloyds (India) IPO: Price Band, Lot Size, Financials & Review
Gulf Lloyds (India) IPO listed on BSE on Mon, 27 Jul 2026. The issue was subscribed 10.90x overall.
- Open Date
- 20 Jul 2026
- Close Date
- 22 Jul 2026
Last updated
- Issue price
- ₹100
- Lot size
- 1,200 shares
- Min. investment
- ₹2,40,000
- Issue size
- ₹18.19 Cr
- Last GMP
- +₹1
- Subscribed
- 🔥 10.90x
Gulf Lloyds (India) IPO details
Gulf Lloyds (India) IPO is a ₹18.19 Cr fixed price IPO on the SME segment, listing on BSE. It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
The issue was open from Mon, 20 Jul 2026 to Wed, 22 Jul 2026. Allotment was finalised on Thu, 23 Jul 2026, and the shares listed on BSE on Mon, 27 Jul 2026.
The issue price is ₹100 per share and the lot size is 1200 shares, so the minimum retail application is ₹2,40,000. Retail investors can apply for up to 2 lots (2,400 shares, ₹2,40,000).
KFin Technologies Limited is the registrar, and Interactive Financial Services Ltd is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last Gulf Lloyds (India) IPO GMP before listing was +₹1 (+1.00% against the upper price band of ₹100), implying an estimated listing price of ₹101. Across 10 days of tracking, GMP ranged from +₹1 (22 Jul) to +₹25 (19 Jul).
| Last GMP | +₹1 |
|---|---|
| GMP vs upper band | +1.00% |
| Estimated listing price | ₹101 |
| Highest (19 Jul) | +₹25 |
| Lowest (22 Jul) | +₹1 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Gulf Lloyds (India) IPO day-wise GMP.
Subscription
Day-wise subscription →Gulf Lloyds (India) IPO was subscribed 10.90x overall: QIB 0.00x, NII 2.97x and retail 18.83x.
| Category | Subscribed |
|---|---|
| QIB | 0.00x |
| NII | 2.97x |
| Retail | 18.83x |
| Total | 10.90x |
Final figures at the close of bidding on 22 Jul 2026. Category-wise bids, application-wise breakup and allotment chances are on the Gulf Lloyds (India) IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Non-Institutional | 8,64,000 | 50.00% |
| Retail Investors | 8,64,000 | 50.00% |
| Total | 17,28,000 | 100.00% |
Gulf Lloyds (India) IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,40,000 |
| Retail (Max) | 2 | 2,400 | ₹2,40,000 |
| S-HNI (Min) | 3 | 3,600 | ₹3,60,000 |
Amounts at the upper end of the price band.
Issue structure and valuation
It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
At the upper price band of ₹100, the issue is priced at 11.41x pre-issue earnings and 15.64x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Promoter holding falls from 99.94% before the issue to 72.92% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹8.76 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 11.41x |
| EPS (post-issue) EPS on the enlarged share capital | ₹6.39 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 15.64x |
| Promoter holding (pre-issue) | 99.94% |
| Promoter holding (post-issue) | 72.92% |
Gulf Lloyads (India) Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹35.88 Cr to ₹35.97 Cr, and profit after tax fell from ₹4.67 Cr to ₹4.3 Cr. The PAT margin for 31 Mar 2026 was 11.95%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 35.29 | 23.51 | 15.88 |
| Total Income | 35.97 | 35.88 | 23.51 |
| Profit After Tax | 4.30 | 4.67 | 1.68 |
| Net Worth | 13.48 | 9.33 | 4.66 |
| Reserve & Surplus | 8.71 | 9.32 | 4.65 |
| Total Borrowings | 15.68 | 8.94 | 6.94 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 37.49 | 66.77 | 43.93 |
| ROCE % | 24.88 | 39.77 | 23.93 |
| Debt / Equity | 1.15 | 0.96 | 1.49 |
| RoNW % | 31.92 | 50.06 | 36.02 |
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Capital Expenditure for Office premises |
| 2 | Repayment of unsecured loans |
| 3 | Working Capital requirement |
| 4 | General corporate purposes |
About Gulf Lloyads (India) Limited
Gulf Lloyads (India) Limited, incorporated in September 2014, is an India-based service company operating in the Inspection, Testing, Certification, Auditing, and Training (ITCAT) sector. The company provides independent third-party inspection, auditing, certification, testing, and training services to public sector undertakings, private enterprises, and industrial organizations across multiple sectors.
Headquartered in Ahmedabad, Gujarat, Gulf Lloyads has established a strong presence in both domestic and international markets. Over the past decade, the company has successfully executed projects in countries including India, the United States, the United Arab Emirates (UAE), China, Germany, and several other global locations.
Business Operations
The company specializes in evaluating products, equipment, manufacturing processes, and industrial projects to ensure compliance with applicable quality standards, technical specifications, statutory regulations, and customer requirements. Through its independent assessment services, Gulf Lloyads helps organizations improve operational efficiency, maintain regulatory compliance, reduce project risks, optimize costs, and enhance product quality.
Its portfolio of customer-focused services is designed to deliver reliable, timely, and cost-effective inspection and certification solutions across diverse industries.
Service Portfolio
Gulf Lloyads offers a comprehensive range of services, including:
- Third-Party Inspection
- Quality Auditing
- Product and Material Testing
- Certification Services
- Technical Training
- Vendor Assessment and Evaluation
- Quality Assurance and Quality Control (QA/QC) Services
Industry-wise Inspection Services
The company provides specialized inspection services across various industries, including:
- Pre-Shipment Inspection
- Marine Inspection
- Oil & Gas Industry Inspection
- Gas Industry Documentation Inspection
- Power Generation Projects
- Mining Industry
- Manufacturing Industry
- Industrial Equipment Inspection
- Cargo Inspection
- Electrical Industry Inspection
- Automotive Industry Inspection
Client Base
Gulf Lloyads serves a diversified customer base comprising public sector undertakings and private organizations across engineering, manufacturing, infrastructure, energy, and industrial sectors. Some of its notable clients include:
- Vee Kay Vikram & Co. LLP
- Aakash Exploration Services Limited
- Pacific Steel and Alloys
- Alexia Panels
- APSS Technologies Private Limited
- Euro Panel Products Limited
- RPF Pipes
- IOAGPL
- Hindusthan Technologies Private Limited
- Nabros Transport Private Limited
- Corrtech International Limited
- John Energy Limited
- Chicago Pneumatic Compressors
- Haryana City Gas
- CZAR Metric System Private Limited
- TLT Engineering India Private Limited
- Parixit Irrigation Limited
- Rajendra Piping & Fittings
- Swati Switchgears Private Limited
- Tatsuno India Private Limited
- Gilbarco Veeder-Root
- Ratnamani Metals & Tubes Limited
- Rungta Irrigation Limited
- Therm Transfer Equipment Private Limited
Workforce
As of May 31, 2026, Gulf Lloyads employed 715 personnel, comprising permanent employees, contractual staff, and technical consultants. The workforce spans various functional areas, including:
- Senior Management
- Project Management
- Engineering
- Inspection & Certification
- Finance & Accounts
- Human Resources
- Internal Audit
- Marketing & Business Development
- Operations and Technical Support
Competitive Strengths
- Over 10 years of industry experience in inspection and certification services.
- Diversified service offerings covering inspection, testing, auditing, certification, and training.
- Presence across multiple industrial sectors and infrastructure projects.
- Experienced technical workforce with specialized engineering expertise.
- Strong client relationships with leading public and private sector organizations.
- International project execution experience across multiple countries.
- Focus on delivering reliable, independent, and cost-effective quality assurance solutions.
This profile presents Gulf Lloyads (India) Limited as a comprehensive provider of third-party inspection and certification services, committed to ensuring quality, safety, regulatory compliance, and operational excellence for its clients.
Promoters
- Bhagirath Bhavsar
- Anitaben Bhavsar
- Jaykumar Bhavsar
- Shivaniben Bhavsar
Contact details
Gulf Lloyds (India) Ltd.
910, Gala Empire
, Opp. TV Tower, Drive-in Road
Thaltej Road, Ahmedabad, Gujarat, 380054
Tel No.: +91 079-35289495
Email:info@gulflloydsgroup.com
Website:http://www.gulflloydsgroup.com/
Gulf Lloyds (India) IPO FAQs
- What is the Gulf Lloyds (India) IPO price band?
- Gulf Lloyds (India) IPO is a fixed price issue at ₹100 per share.
- What is the Gulf Lloyds (India) IPO lot size and minimum investment?
- The Gulf Lloyds (India) IPO lot size is 1200 shares. The minimum retail investment is ₹2,40,000 for one lot at the upper price band. Retail investors can apply for up to 2 lots (2,400 shares), costing ₹2,40,000.
- When was Gulf Lloyds (India) IPO open for subscription?
- Gulf Lloyds (India) IPO was open for subscription from Mon, 20 Jul 2026 to Wed, 22 Jul 2026.
- What is the Gulf Lloyds (India) IPO subscription status?
- Gulf Lloyds (India) IPO was subscribed 10.90x overall: QIB 0.00x, NII 2.97x and retail 18.83x. Day-wise and category-wise figures are on the subscription page.
- What was the Gulf Lloyds (India) IPO GMP before listing?
- The last Gulf Lloyds (India) IPO GMP before listing was +₹1 (+1.00% against the upper price band of ₹100), implying an estimated listing price of ₹101. Across 10 days of tracking, GMP ranged from +₹1 (22 Jul) to +₹25 (19 Jul). GMP is an unofficial grey market indicator and can change quickly.
- What is the Gulf Lloyds (India) IPO allotment date?
- The Gulf Lloyds (India) IPO basis of allotment was finalised on Thu, 23 Jul 2026. You can check your allotment status on the KFin Technologies Limited website.
- What is the Gulf Lloyds (India) IPO listing date?
- Gulf Lloyds (India) IPO listed on BSE on Mon, 27 Jul 2026.
- Is the Gulf Lloyds (India) IPO a fresh issue or an offer for sale?
- It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
- Who are the registrar and lead managers of the Gulf Lloyds (India) IPO?
- The registrar for the Gulf Lloyds (India) IPO is KFin Technologies Limited, and the book running lead manager is Interactive Financial Services Ltd.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.