• Source:JND
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Gala Precision IPO Allotment Status:  Following its IPO’s positive reaction from investors, Gala Precision Engineering is scheduled to finalize the basis for allocating its shares on September 05. Bidders will receive messages, alerts, or emails on September 06, or in the next two days, informing them that funds will be debited from their accounts or their IPO mandates will be revoked.

Those who have placed a bid for the Gala Precision IPO can check their allotment status by following the instructions provided below.

Steps to check Gala Precision IPO Status Online (BSE Website)

- You have to Visit BSE's official website (https://www.bseindia.com/investors/appli_check.aspx)

- Find the issue type option and then click on Equity.

- You will have IPO's names, select Gala Precision Engineering Limited from the dropdown menu.

- Next, enter the application number, and PAN Number in the boxes.

- You have to check the 'I am not a Robot' box.

- Then you have to tap on the search button and your IPO status will be on the screen.

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Gala Precision IPO Subscription Status

As per NSE's data following the strong support bidding, the issue was subscribed to 201.41 times overall. Qualified institutional bidders quota (QIBs) was subscribed 232.54 times, while the shares reserved for non-institutional investors got 414.62 times bid. The retail section was subscribed to 91.95 times

Gala Precision IPO Detail

The IPO of Gala Precision Engineering was open for bidding between September 02 and September 04 and its price band was fixed at Rs 503-529 per share. Investors had to bid for a lot of 28 shares ( Gala Precision IPO Lot Size). The company raised Rs 167.93 crore through its IPO, including Rs 135.34 crore in fresh share sales and up to 6.16 lakh shares in an offer-for-sale (OFS).

Gala Precision IPO GMP Today

Gala Precision Engineering’s grey market premium (GMP) has surged amid volatile market sentiments, following a huge bidding for the initial public offering. The shares of Gala Precision are trading at 789 per share, with a 260 premium, against its Rs 529 price band. On the last day of bidding i.e. September 4, The grey market premium of the share was around Rs 230 per share.

What does Gala Precision do?

Gala Precision Engineering, a thane-based company, manufactures precision components such as disc and strip springs (DSS), special fastening solutions (SFS), and coil and spiral springs (CSS). It was founded in February 2009. The company provides products to original equipment manufacturers (OEMs).

PL Capital Markets is the sole book-running lead manager for the Gala Precision Engineering IPO, while Link Intime India is the registrar for the issue. The company’s shares are scheduled to be listed on both the BSE and NSE on September 9, Monday.

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