31 Mar 2024
Assets39.14
Total Income27.86
EBITDA5.07
Profit After Tax3.20
NET Worth11.03
Reserves and Surplus4.03
Total Borrowing17.59
At a glance
Updated 2026-09-10The shares listed at ₹223.10, a 48.73% move from the issue price. Gallard Steel is a SME IPO with an issue size of ₹37.50 crore, proposed for listing on BSE SME. The offer opens on 19th Nov 2025 and closes on 21st Nov 2025. The issue structure includes a fresh issue of ₹35.63 crore. The current listing schedule points to 26th Nov 2025.
Issue details
Listing atBSE SME
Issue typeBook Build Issue
Issue size₹37.50 Cr
Fresh issue₹35.63 Cr
Face value₹10
Price band₹142.00–₹150.00
Allotment24th Nov 2025
Listing26th Nov 2025
Listing performance
Full performance ↗Issue price₹150.00
Listing price₹223.10
Current price—
Listing gain48.73%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹63.00
GMP / upper price42.00%
Est. listing₹213.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens19th Nov 2025
Closes21st Nov 2025
Allotment24th Nov 2025
Refund25th Nov 2025
Demat25th Nov 2025
Listing26th Nov 2025
Subscription demand
Full bidding ↗QIB228.48×
sHNI381.75×
bHNI490.84×
NII / HNI490.84×
Retail351.58×
Total375.54×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 2000 | ₹300,000 |
Company
Incorporated2015
Use of proceeds
| Object | Amount |
|---|---|
| Funding of capital expenditure towards expansion of the existing manufacturing facility and construction of office Building | ₹20.14 Cr |
| Repayment of a portion of certain borrowings availed by the Company | ₹7.00 Cr |
| General Corporate Purposes | ₹4.66 Cr |
| Issue Expenses | ₹4.91 Cr |
| Total | ₹36.71 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue32.14₹ Cr · -39.9% vs prior year
EBITDA7.42₹ Cr · -40.5% vs prior year
PAT4.29₹ Cr · -29.3% vs prior year
Assets50.33₹ Cr · +3.2% vs prior year
Net Worth21.38₹ Cr · +25.2% vs prior year
Borrowing19.13₹ Cr · -6.1% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore31 Mar 2025
Assets48.77
Total Income53.52
EBITDA12.47
Profit After Tax6.07
NET Worth17.08
Reserves and Surplus10.08
Total Borrowing20.38
30 Sep 2025
Assets50.33
Total Income32.14
EBITDA7.42
Profit After Tax4.29
NET Worth21.38
Reserves and Surplus14.38
Total Borrowing19.13
KPIs
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 43.16% |
| ROCE | 26.59% |
| Debt / Equity | 1.19% |
| RoNW | 35.51% |
| PAT Margin | 11.38% |
| EBITDA Margin | 23.39% |
| Price to Book Value | 6.15 |
Valuation & shareholding
Pre-IPO EPS8.67
Post-IPO EPS9.04
Pre-IPO P/E17.31
Post-IPO P/E16.6
Promoter holding pre91.14%
Promoter holding post67.16%
Market cap₹142.50 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Gallard Steel IPO | — | 16.60 x | — | — |
| Tipco Engineering IPO | — | 10.51 x | — | — |
| Apollo Techno IPO | — | 41.16 x | — | — |
| Admach Systems IPO | — | 13.41 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Funding of capital expenditure towards expansion of the existing manufacturing facility and construction of office Building | ₹20.14 Cr |
| Repayment of a portion of certain borrowings availed by the Company | ₹7.00 Cr |
| General Corporate Purposes | ₹4.66 Cr |
| Issue Expenses | ₹4.91 Cr |
| Total | ₹36.71 Cr |
Registrar & lead managers
Registrar
Ankit Consultancy Pvt.Ltd.Lead managers
- Seren Capital Pvt.Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-10.
IPO UPDATE ALERTS
Register for IPO Updates →Track Gallard Steel without missing an update
Register for subscription, GMP, allotment and listing notifications.