Gala Precision Engineering Ipo To Open On September 2 2024

Gala Precision Engineering IPO Details: Launch Date, Price, and Promoters

Gala Precision Engineering IPO to Open on September 2, 2024

Gala Precision Engineering, a Mumbai-based precision component manufacturer, is all set to launch its initial public offering (IPO) on September 2, 2024. The IPO will close on September 4, 2024.

Key IPO Details

• IPO period: September 2-4, 2024
• Price band: ₹503 per share
• Issue size: ₹200 crore

The IPO proceeds will be used for expansion plans, working capital requirements, and general corporate purposes.

About Gala Precision Engineering

Gala Precision Engineering is a leading manufacturer of precision components, including technical springs. The company's products are used in a wide range of industries, such as automotive, aerospace, and consumer electronics.

Gala Precision Engineering has a strong track record of profitability and growth. In the fiscal year ended March 2023, the company reported revenue of ₹500 crore and net profit of ₹100 crore.

Promoters of Gala Precision Engineering

The promoters of Gala Precision Engineering are Kirit Vishanji Gala, Nayna Gala, and Vishanji Harshi Gala. They will be selling a portion of their stake in the company through the IPO.

Kirit Vishanji Gala is the Chairman and Managing Director of Gala Precision Engineering. He has over 30 years of experience in the precision component manufacturing industry.

Nayna Gala is the wife of Kirit Vishanji Gala. She is a Director of Gala Precision Engineering.

Vishanji Harshi Gala is the son of Kirit Vishanji Gala. He is a Director of Gala Precision Engineering.