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Gallard Steel

Listed

IPO Timeline

Issue open date

19 Nov 2025

Issue close date

21 Nov 2025

UPI mandate deadline

21 Nov 2025

Allotment finalization

24 Nov 2025

Refund initiation

25 Nov 2025

Share credit

25 Nov 2025

Listing date

26 Nov 2025

Mandate end date

6 Dec 2025

Lock-in end date for anchor investors (50%)

24 Dec 2025

Lock-in end date for anchor investors (remaining)

22 Feb 2026

Grey Market Premium Trend

₹63
Current GMP
₹213
Est. Listing Price
42.0%
Est. Listing Gain
₹142 - ₹150
Price Band

GMP History

DateGMP (₹)Est. Listing Price (₹)Est. Listing Gain
25 Nov₹63₹21342.00%
24 Nov₹57₹20738.00%
23 Nov₹70₹22046.67%
22 Nov₹70₹22046.67%
21 Nov₹70₹22046.67%
20 Nov₹70₹22046.67%
19 Nov₹40₹19026.67%
18 Nov₹40₹19026.67%
17 Nov₹11₹1617.33%
16 Nov₹11₹1617.33%
15 Nov₹11₹1617.33%
14 Nov₹0₹1500.00%
13 Nov₹0₹1500.00%
12 Nov₹0₹1500.00%

Key Dates

Open
19 Nov 2025
Close
21 Nov 2025
Listing
26 Nov 2025

Quick Stats

Issue Size:38cr
Lot Size:1000 shares

About the Company

Incorporated in 2015, Gallard Steel Limited is an engineering company engaged in manufacturing ready-to-use components, assemblies, and subassemblies for Indian Railways, defence, power generation, and allied industries. Its product portfolio includes traction motor parts, bogie components, turbine subassemblies, and industrial machinery components made from carbon steel, ductile iron, grey cast iron, and alloy steels.

Strengths

  • Manufacturer of a wide range of steel products including MS pipes, sections, and bars.
  • Strategically located manufacturing facility in Gujarat with logistical advantages.
  • Established relationships with customers and suppliers ensuring consistent business.
  • Experienced promoters with deep knowledge of steel manufacturing and trading.
  • Focus on operational efficiency and quality control to maintain product standards.

Risks

  • Dependence on a limited number of suppliers for raw materials.
  • Exposure to steel price volatility impacting margins and cash flow.
  • Single manufacturing location increases operational concentration risk.
  • High working capital requirements and reliance on debt funding.
  • Intense competition from organized and unorganized steel manufacturers.

Gallard Steel IPO – Frequently Asked Questions

  • The price band for the Gallard Steel IPO is set at ₹142 to ₹150 per share.
  • The Gallard Steel IPO opens on November 19, 2025 and closes on November 21, 2025.
  • The tentative listing date for the Gallard Steel IPO is November 26, 2025.
  • You can apply for the Gallard Steel IPO via your broker or bank using ASBA or UPI. Log in to your trading app (Zerodha, Upstox, Groww, etc.), select IPO section, choose Gallard Steel, enter lot quantity and UPI ID, then approve the mandate.
  • The lot size for the Gallard Steel IPO is 1000 shares. Investors must apply for at least one lot (i.e., 1000 shares).