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Gallard Steel Ltd IPO

Incorporated in 2015, we are an engineering company engaged in the manufacturing of ready-to-use components, assemblies, and subassemblies for Indian railways, defence, power generation and allied industries. Our product portfolio includes critical components such as traction motor components and bogie assembly components for the railway sector, sub-assemblies for thermal and hydro turbines used in the power generation sector and components for industrial machinery, equipment and the defence sector. These components are manufactured using unmachined and machined castings made from metals including carbon steel, ductile iron, grey cast iron and medium and low alloy steels. Our clientele primarily comprises companies operating in the heavy engineering, railways and defence sector.

Gallard Steel Ltd IPO Details

Total Shares Offered

TBA

Offer to Public

TBA

Retail Max (Shares)

TBA

Pre Issue Promoters Holding

TBA

Exchange

DBC

Issue size

₹ 37.5 Cr

IPO Open Date

Nov 19, 2025

Close Date

Nov 21, 2025

Lot Size

2000

Min Investment

₹ 2,84,000

Issue Type

Book Building - SME

Listing Date

Invalid Date

Gallard Steel Ltd IPO Dates

Nov 19, 2025

Opening date

Nov 21, 2025

Closing date

Basis of Allotment

Initiation of Refunds

Credit of Shares

Listing date

Details

Sector	Type
Sector	Castings & Forgings
Sub Sector	NA
Issue Type	Book Building - SME

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*	Shares Bid*
QIB	0x	0	0
NII	0x	0	0
Retail	0x	0	0
Employee	0x	0	0
Total	0x	0	0

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

Gallard Steel Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	4.99	2.23	0.89
EBITDA	6.31	2.93	1.47
PAT	3.18	1.13	0.23
Total Assets	20.52	8.90	5.89
Share Capital	7.00	2.26	2.26
Total Borrowings	16.95	6.27	5.22
Operating Activities (Net Cash)	4.50	1.83	0.81
Investing Activities (Net Cash)	-4.85	-3.65	-3.79
Financing Activities (Net Cash)	16.95	6.27	5.22
Net Cashflow	1.66	0.29	0.18

About Gallard Steel Ltd

Our Company was incorporated on April 9, 2015 under the name of Gallard Steel Limited', a limited Company under the provisions of the Companies Act, 2013, pursuant to a Certificate of Incorporation issued by Registrar of Companies, Gwalior, Madhya Pradesh.

India is the world's second-largest producer of crude steel, with an output of 125.32 Million Tonnes(MT) of crude steel and finished steel production of 121.29 MT in FY23. India's domestic steel demand is estimated to grow by 9-10% in FY25 as per ICRA. Under the Union Budget 2023-24, the government allocated Rs. 70.15 crore (US$ 8.6 million) to the Ministry of Steel. India is home to fifth-highest reserves of iron ore in the world.

Peer Comparison:

Nitin Castings Ltd
Pritika Engineering Components Ltd

Gallard Steel Ltd Key Points

Strengths

In-house manufacturing facilities.

Diverse Customer base.

Wide Geographical reach.

Stringent quality control mechanism ensuring standardized product quality.

Risk

The company derives a significant portion of the revenue from the sale of traction motors and bogie assembly components to the railway sector and any decline in their demand may adversely affect its business, results of operations and financial condition.

Substantial portion of the revenue has been dependent upon few customers with which its do not have any firm commitments. The loss of any one or more of the major customers would have a material adverse effect on its business, cash flows, results of operations and financial conditions.

The Company does not have long-term agreements with suppliers for the input materials and a significant increase in the cost of, or a shortfall in the availability, or deterioration in the quality, of such input materials could have an adverse effect on its business and results of operations.

Strategy

Expansion of manufacturing capabilities and infrastructure.

Strengthen our presence in the railway and other sectors.

Focus on consistently meeting quality standards.

How To Apply for Gallard Steel Ltd IPO Online?

Step 1:

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From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Gallard Steel Ltd IPO?

Gallard Steel Ltd's IPO offers shares for up to 0 It begins on Nov 19, 2025 and ends on Nov 21, 2025.

What is the price of the Gallard Steel Ltd IPO?

The price of Gallard Steel Ltd IPO ranges between ₹142 to ₹150 per share.

What are the open and close dates for the Gallard Steel Ltd IPO?

The Gallard Steel Ltd IPO opens on Nov 19, 2025 and closes on Nov 21, 2025.

When will the Gallard Steel Ltd IPO be allotted?

The allotment for the Gallard Steel Ltd IPO will be finalised on Invalid Date. The shares will be listed on BSE and NSE on Invalid Date.

What is the minimum lot size required for Gallard Steel Ltd IPO?

The minimum lot size for Gallard Steel Ltd IPO is 2000 shares, priced between ₹142 to ₹150 per share.

What is the GMP of Gallard Steel Ltd IPO?

The GMP (Grey Market Premium) of Gallard Steel Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Gallard Steel Ltd IPO?

To check the allotment status of Gallard Steel Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Gallard Steel Ltd IPO getting listed?

The Gallard Steel Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Nov 19, 2025, and closes on Nov 21, 2025. The allotment is finalised on Invalid Date.

How do you apply for the Gallard Steel Ltd IPO?

To apply for the Gallard Steel Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.