Mumbai: Gala Precision Engineering Limited is coming out with its IPO from September 2, 2024 to September 4, 2024 and price band of Rs 503 to Rs 509, aggregating Rs 157.93 crores.
Gala Precision Engineering Limited is a precision component manufacturer of technical springs like disc and slip springs (DSS), coil and spiral springs (CSS), and special fastening solution (SFS).
The proceeds from the fresh issue include: Rs 370 million being used for setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbudur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts; Rs 110.69 million being used for funding capital expenditure requirements towards purchase of equipment , plant and machinery at Wada, Palghar, Maharashtra; Rs 454.30 million for repayment/prepayment, in full or part, of certain borrowings availed by the Company; and general corporate purposes.
The Company, led by Kirit Vishanji Gala, is a technology-driven company with strong focus on quality, design tool development and application engineering.
The Company supplies its products to original equipment manufacturers (OEMs), Tier I and channel partners; used in sectors like renewable energy including wind turbine and hydro power plants, various industrial sectors like electrical off-highway equipment, infrastructure and general engineering, military segments such as automotive and railways.
Its technical springs and high tensile fasteners, have been supplied to customers in countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden Switzerland etc. and is a key link to the global supply chains for OEMs.
For Fiscal 2023-24, the company’s revenue from operations increased by 22.41%, reaching to Rs 2025.45 million in Fiscal 2024 from Rs 1654.65 million in Fiscal 2023. Profit after Tax for Fiscal 2024 stood at Rs 223.32 million.
PL Capital Markets Private Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
