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Issue Open Date
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02-Sep-24
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Issue Closing Date
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04-Sep-24
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Application Money
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100
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Allotment Money
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Price Band
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503
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529
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Minimium Application No.
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28
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Issue Size (Shares)
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2223830
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Market Lot
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1
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Objective
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1. Setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu for manufacturing high tensile fasteners and hex bolts.2. Funding capital expenditure requirements towards purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra.3. Repayment/ prepayment, in full or part, of certain borrowings availed by our Company.4. General corporate purposes.
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Category
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No. of Shares
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No. of Shares
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Subscription Ratio
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Offered / Reserved |
Bid For |
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Non-Institutional Investors
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475293
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197065120
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414.618182889291
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Qualified Institutional Buyers
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633724
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147366856
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232.541068351522
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Retail Individual Investors
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1109017
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101972836
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91.9488483945692
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Business Description
We are a leading precision component manufacturer of technical springs like disc & strip springs (“DSS”) including wedge lock washers; coil & spiral springs (“CSS") and special fastening solution (“SFS”) supplying to original equipment manufacturers (“OEMs”), Tier 1 and channel partners; used in sectors like renewable energy including wind turbine and hydro power plants, various industrial sectors such as electrical, off highway equipments, infrastructure and general engineering, mobility segments such as automotive and railways (Source: 1Lattice Report). Our technical springs and high tensile fasteners have been supplied to customers in countries such as Germany, Denmark, China, Italy, Brazil, USA, Sweden, Switzerland etc. Accordingly, we are a key link in the global supply chain for OEMs. Our customers include global OEMs, tier 1 and channel partners across the sectors such as John Deere India Private Limited, Faiveley Transport Rail Technologies India Private Limited (a Wabtec Company), Brembo Brake India Private Limited, BUFAB India Fasteners Private Limited, Altra Industrial Motion India Private Limited, Endurance Technologies Limited, Enercon GmbH, EXEDY Clutch India Private Limited, Hitachi Astemo Chennai Private Limited, L&T Electrical & Automation Products (a unit of Schneider Electric Private Limited), LPS Bossard Private Limited, MSL Driveline Systems Limited, SAL Automotive Limited, Schaeffler India Limited, Turbo Energy Private Limited, Vestas Wind Technology India Private Limited, Wuerth Industrial Services India Private Limited etc. We are recognised for our high quality, reliability, and design partnership and this has helped us to establish long standing relationships with global customers.
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Promoter's Holding
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Total Share Capital
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7538864
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Offered to Public
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3174416
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Promoter's Holding (Pre-Issue)
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74.56
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Promoter's Holding (Post-Issue)
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55.44
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Address |
A-801
8th Floor
Thane One Dil Complex
Ghodbunder Road
Majiwade
Thane (West)
Thane,
Maharashtra,
400610
Phone : 022-69309224
Email : investor.relations@galagroup.com
Website : www.galagroup.com
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Registrar |
Link Intime India Pvt Ltd.
C 101
247 Park
LBS Marg
Vikhroli (West)
Mumbai
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Listed at |
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BSE, NSE
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Lead Manager |
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PL Capital Markets Pvt Ltd
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Promoters |
Kirit Vishanji Gala
Smeet Kirit Gala
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