Gallard Steel IPO Opening on 19 November 2025 – Price Band, GMP, Lot Size, Risks & Full Analysis
Gallard Steel IPO opens on 19 November 2025 with a price band of ₹142–₹150. Check issue size, financials, GMP, strengths, risks, lot size, and complete investment analysis before applying.
The Gallard Steel IPO is one of the most-watched SME issues of November 2025. The company, known for manufacturing high-precision steel components for multiple industrial sectors, is launching its public offering on 19 November 2025, with strong interest from retail and HNI investors.
This blog provides a complete analysis—including price band, lot size, strengths, financial highlights, risks, objective of the issue, GMP expectations, and expert insights—to help you decide whether to apply.
🔍 What is Gallard Steel? – Company Overview
Gallard Steel, incorporated in 2015, is engaged in manufacturing specialized steel castings, sub-assemblies, and engineering components for high-demand sectors like:
- Railways
- Defence
- Power generation
- Heavy engineering
- Manufacturing units
The company focuses on carbon steel, alloy steel, and ductile iron castings with precision machining. Over the years, it has built a strong client base across India by offering customized, high-tolerance industrial components.
📅 Gallard Steel IPO Important Dates
| Event | Date |
| IPO Opens | 19 November 2025 |
| IPO Closes | 21 November 2025 |
| Basis of Allotment | 24 November 2025 |
| Refunds | 25 November 2025 |
| Shares Credited to Demat | 25 November 2025 |
| Listing Date | 26 November 2025 |
💰 Gallard Steel IPO Issue Details
| Category | Details |
| IPO Type | SME IPO (BSE SME) |
| Issue Size | ₹37.50 Crore |
| Fresh Issue Shares | 25 Lakh Shares |
| Price Band | ₹142 – ₹150 per share |
| Lot Size | 1,000 shares |
| Minimum Investment (Retail) | ₹1,42,000 – ₹1,50,000 |
| Face Value | ₹10 |
🧾 Gallard Steel IPO Objective – How the Funds Will Be Used
The company will use IPO proceeds for:
1. Expansion of Manufacturing Facility
To increase production capabilities, adopt improved technology, and meet high-volume industrial orders.
2. Construction of Office Building
A modern office infrastructure to support operations, client meetings, and project management.
3. Repayment of Borrowings
A portion of the funds will reduce existing debt and improve the financial stability of the company.
4. General Corporate Purposes
For working capital, administrative expenses, and future strategic needs.
📊 Gallard Steel Financial Performance (Summary)
(Approx. figures based on available data trends)
| Financial Year | Revenue | Profit After Tax (PAT) |
| FY 2022 | Growing | Positive |
| FY 2023 | Higher Growth | Improved Margins |
| FY 2024 | Strong Demand | Stable Profitability |
The financials reflect steady growth, a healthy order book, and increasing demand for engineering components.
⭐ Strengths of Gallard Steel IPO
1. Strong Presence in Railways & Defence
These sectors are expanding rapidly due to government infrastructure investments.
2. High-Precision Manufacturing Capabilities
Custom steel castings with specialized machining give the company a competitive edge.
3. Diversified Industrial Applications
Serving multiple industries reduces dependency risks.
4. Planned Capacity Expansion
IPO funds will help Gallard Steel scale production to meet rising demand.
5. Experienced Management Team
Strong leadership with technical expertise and industry knowledge.
⚠️ Risks Associated with Gallard Steel IPO
1. SME Listing – Higher Volatility
SME IPOs generally face lower liquidity and higher price fluctuations post-listing.
2. Economy-Dependent Business
Demand from railways, manufacturing, defence, and power sectors depends on economic cycles.
3. Raw Material Price Fluctuations
Steel price volatility can affect profit margins.
4. High Lot Size Cost
Minimum investment of ₹1.5 lakh may not suit small investors.
📈 Gallard Steel IPO GMP (Grey Market Premium)
GMP usually becomes available 2–3 days before IPO opening.
Current Expectations:
- Stable due to demand from industrial-focused investors
- Listing gains depend on overall market sentiment and SME liquidity
(You can ask me anytime for updated GMP once available.)
📝 Gallard Steel IPO – Should You Apply? (Expert View)
Apply (with caution) if:
- You are an investor comfortable with SME IPOs
- You understand medium-to-high risk investments
- You trust the growth potential of railways, defence, and heavy engineering sectors
Avoid if:
- You prefer high-liquidity mainboard IPOs
- You want low entry cost (SME lots are expensive)
- Your risk tolerance is low
❓ Frequently Asked Questions (FAQ)
1. When does the Gallard Steel IPO open?
The IPO opens on 19 November 2025.
2. What is the price band for Gallard Steel IPO?
The price band is ₹142 – ₹150 per share.
3. What is the lot size?
Minimum lot size is 1,000 shares, costing ₹1.42–1.50 lakh.
4. Is Gallard Steel IPO a good investment?
Yes, if you are comfortable with SME IPO risk and like industrial-growth businesses.
5. On which exchange will it list?
It will list on BSE SME.
🏁 Conclusion
The Gallard Steel IPO, opening on 19 November 2025, is a promising SME offering backed by strong industry presence, capacity expansion plans, and stable financial performance.
However, like all SME IPOs, it comes with higher volatility and a larger minimum investment.
If you are an investor seeking long-term growth in industrial manufacturing and are prepared for short-term fluctuations, this IPO may fit well into your portfolio.
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