Gallard Steel IPO to Launch November 19, Targets ₹37.5 Crore for Expansion

#GallardSteel #IPO #BSESME #DalalStreet #Engineering #IndianRailways #DefenceSector #PowerGeneration #CapitalMarkets #Fundraising #FreshIssue

Chandigarh: Indore-based engineering company Gallard Steel is poised to enter the capital market with its maiden public issue next week. The company, which specializes in components for the Indian Railways, Defence, and Power Generation sectors, has set the date for its Initial Public Offering (IPO).

The public offer will open on November 19 and close on November 21.

IPO Details and Timeline

Company Profile and Fund Utilisation

Incorporated in 2015, Gallard Steel operates a manufacturing facility in Pithampur, Madhya Pradesh. It is involved in manufacturing ready-to-use components, assemblies, and sub-assemblies for critical sectors including:

• Indian Railways

• Defence

• Power Generation

• Allied Industries

The company aims to utilize the IPO proceeds primarily for business expansion and debt reduction:

• ₹20.73 crore: Expansion of the existing manufacturing facility and construction of an office building.

• ₹7.2 crore: Repayment of existing borrowings.

• Remainder: General corporate purposes.

Strong Financial Performance

Gallard Steel has demonstrated robust financial growth in recent fiscal years:

For the first half of the current fiscal year (April–September 2025), the company reported a net profit of ₹4.3 crore on a revenue of ₹31.6 crore.

#GallardSteel #IPO #BSESME #DalalStreet #Engineering #IndianRailways #DefenceSector #PowerGeneration #CapitalMarkets #Fundraising #FreshIssue