Gallard Steel IPO Date, Review, Price and Key Information

Gallard Steel Limited IPO is fully book build issue and IPO is fully fresh issue. The total offering consists of 30 lakh shares.

The dates for the Gallard Steel Limited IPO have not been announced yet. The allotment process is expected to be finalized by [.].

The Gallard Steel Limited IPO is scheduled to list on BSE SME, with a listing date of [.]. The price band for the Gallard Steel Limited IPO has not been announced yet.

Registrar for this IPO is Ankit Consultancy Private Limited and lead managers for Gallard Steel Limited IPO are Seren Capital Private Limited.

IPO Schedule

IPO Open Date	-
IPO Close Date	-
IPO Allotment Date	-
Refund Initiation	-
Share credit in Demat	-
Listing Date	-

Key Details

Price Band	TBA
Lot Size	TBA
Face Value	₹10 Per Equity Share
Total Issue Size	3,000,000 Shares
Fresh Issue	3,000,000 Shares
Issue Type	Fresh Issue
Listing At	BSE SME

Share Reservation

Investor Category	Shares Offered
QIB	50%
Retail	35%
NII/HNI	15%

About Gallard Steel Limited Company

Gallard Steel Limited, incorporated in 2015, is an engineering company focused on manufacturing ready-to-use components and assemblies for diverse sectors including Indian Railways, defense, power generation, and allied industries. Our product portfolio encompasses critical components like traction motor parts, bogie assembly components, sub-assemblies for thermal and hydro turbines, and components for industrial machinery and defense.

We hold Class ‘A’ Foundry Status from RDSO and are an approved vendor for supplying critical defense components. Our manufacturing operations are based in Pithampur, Madhya Pradesh. As of February 2024, we acquired Sleeploop India Private Limited (SIPL), enhancing our CNC machining and rebonded foam manufacturing capabilities.

Key financials for the period Apr-Sept '24 show a revenue of ₹24.47 crore, EBITDA of ₹5.87 crore, and a PAT of ₹3.12 crore. Our competitive strengths include in-house manufacturing, a diverse customer base spanning multiple industries, and stringent quality control mechanisms. Our strategies include expanding our manufacturing capabilities, strengthening our presence in the railway and other sectors, and a continuous focus on meeting quality standards. We are operating at 87.50% capacity utilization and intend to expand our casting capacity from 2,400 MT per annum to 6,100 MT per annum.

Gallard Steel Limited Financial Details

Period Ended	30 Sep 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	421.51	391.26	196.15	154.41
Revenue
Profit After Tax
Net Worth	77.14	47.15	60.87	49.53
Reserves and Surplus	71.34	40.15	38.32	26.98
Total Borrowing	168.41	176.58	94.08	71.74

₹ In Crore

Key Performance Indicator

Basic EPS (in ₹)	Return on Net Worth (RoNW)	Net Asset Value (NAV)	Debt-Equity Ratio	Return on Equity (ROE)	Return on Capital Employed (ROCE)
5.11	28.90%	17.70

Offer Objectives

The company plans to utilize the net proceeds from the issue for several key objectives. Firstly, ₹2013.69 lakhs (₹20.13 crore) is allocated for funding capital expenditure. This includes expanding the existing manufacturing facility and constructing a new office building to enhance production capacity from 2,400 MT per annum to 6,100 MT per annum and to address space constraints.

Secondly, ₹700 lakhs (₹7 crore) is earmarked for repayment of a portion of certain borrowings availed by the company, aiming to reduce its debt burden.

The remaining funds are intended for general corporate purposes. These objectives are aimed at strengthening the company's market position, increasing operational efficiency, and facilitating future growth.

The entire fund requirement for these objectives is proposed to be met entirely from the net proceeds of the issue. The company confirms that there are no requirements to make firm arrangements of finance under Regulation 7(1)(e) of the SEBI ICDR regulations towards at least 75% of the stated means of finance, excluding the amount to be raised from the Fresh Issue.The company retains the flexibility to adjust fund allocation between objectives based on business needs and market conditions.