Gala Precision Engineering IPO

About Gala Precision Engineering Limited

Gala Precision Engineering Limited, established in February 2009, is a leading manufacturer of precision components, including disc and strip springs (DSS), coil and spiral springs (CSS), and special fastening solutions (SFS). Serving original equipment manufacturers (OEMs), Gala's products are essential in various sectors such as electrical, off-highway equipment, infrastructure, general engineering, and mobility segments, including automotive and railway industries.

With a global presence, Gala Precision Engineering supplies technical springs and high-tensile fasteners to customers across 25 countries, including Germany, Denmark, China, Italy, Brazil, the USA, Sweden, and Switzerland. The company operates through two main divisions: the Springs Technology Division, which produces DSS and Wedge Lock Washers (WLW), and the SFS division, focused on anchor bolts, studs, and nuts.

The company operates two manufacturing facilities in Wada District, Palghar, Maharashtra, and is expanding with a new facility in Vallam-Vadagal, SIPCOT, Sriperumbudur, Tamil Nadu. This expansion will enhance their high-tensile fastener production capabilities.

As of June 30, 2024, Gala Precision Engineering employs 294 permanent and 390 contract workers, ensuring robust operational capacity across its diverse product portfolio.

Industry Outlook:

1. The global DSS & WLW market, valued at approximately $891M in 2023, is projected to grow at a CAGR of 6.1%, reaching around $1,065M by 2026.
2. Gala Precision Engineering holds a 2% share in the global DSS market, driven by robust growth in renewable energy, automotive, and infrastructure sectors.

Gala Precision Engineering Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

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 the purchase of equipment, plant and machinery at Wada, Palghar, Maharashtra;
3. Repayment/ prepayment, in full or part, of certain borrowings availed by the Company; and
4. General corporate purposes.

Peer Details

The companies considered by Gala Precision Engineering as its peers include:

1. Harsha Engineers International Limited.
2. SKF India Limited.
3. Sundram Fasteners Limited.
4. Rolex Rings Limited.
5. Sterling Tools Limited.
6. Ratnaveer Precision Engineering Limited

How to apply for Gala Precision Engineering IPO online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Gala Precision Engineering IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of the Gala Precision Engineering Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Gala Precision Engineering Limited

Registered office: A-801, 8th Floor, Thane One DIL Complex, Ghodbunder Road Majiwade, Thane (West), Maharashtra, India, 400610

Phone: +91 22-6930 9224

E-mail: investor.relations@galagroup.com