Gala Precision makes super debut

One more fantastic debut today; Gala Precision got listed on the BSE at Rs.750 v/s IPO price of Rs.529. It rose to an intraday high at Rs.787and is currently trading at Rs.774 levels.

The IPO had got received a very good response, with overall subscription at 201.41x, HNIs at 414.61x, QIBs at 232.54x and Retail at 91.94x.

The company manufactures disc strip springs, coil spiral springs and fasteners at Wada, Maharashtra. Nearly 30% revenue is derived from renewable energy sector, with wind as a focus area, and company enjoying 10% market share in the Rs. 1,000 cr domestic disc strip springs market. Exports, mainly to US and Europe, account for 37% of topline.  

Our conclusion in the IPO Analysis - Capex-led growth visibility, strong margin and healthy outlook for sectors company caters to makes the IPO of Gala Precision a ‘subscribe’.