KUBERGROW TEAM Gallard Steel IPO: Full Details Ahead of the November 19 SME Listing
The Gallard Steel IPO is set to hit Dalal Street on November 19, and investor interest is picking up fast thanks to the company’s strong financial performance and expansion-driven approach. With a price band of ₹142–150 per share, this SME public issue aims to raise ₹37.5 crore through a fresh issue of 25 lakh equity shares. The Gallard Steel IPO will remain open for subscription until November 21, the allotment is scheduled for November 24, and the stock will debut on the BSE SME platform on November 26.
This detailed breakdown covers the key highlights of the Gallard Steel IPO, including business fundamentals, sector relevance, utilisation of funds, financial performance, industry outlook, and whether this SME issue is worth considering for investors.
What Gallard Steel Does
Incorporated in 2015, Gallard Steel is based in Pithampur, Madhya Pradesh—one of India’s major industrial hubs. The company specialises in manufacturing ready-to-use components, assemblies, and sub-assemblies, serving mission-critical industries such as:
Indian Railways
Defence
Power Generation
Heavy Engineering and Allied Sectors
These industries form the backbone of India’s infrastructure growth, making Gallard Steel a strategically positioned supplier. The demand for precision-engineered components has been rising steadily, and the Gallard Steel IPO aims to leverage this sectoral momentum to scale operations further.
Industry Outlook & Strategic Positioning
The manufacturing sector, especially railways and defence, has been receiving consistent government support through Make in India, PLI schemes, and infrastructure push. This backdrop strengthens the potential impact of the Gallard Steel IPO as the company is directly connected to sectors with long-term visibility.
Additionally, the shift towards domestic sourcing of components is expected to further benefit companies like Gallard Steel, helping them secure a greater share of procurement contracts in the coming years.
Gallard Steel IPO: Use of Funds
Proceeds from the Gallard Steel IPO will be deployed as follows:
₹20.73 crore for expanding the current manufacturing facility and constructing a dedicated office building
₹7.2 crore towards repayment of existing borrowings
Remaining funds for general corporate purposes
The focus on capacity expansion highlights the company’s commitment to growing production volumes and meeting rising demand from core sectors. Debt reduction also improves the balance sheet and strengthens overall financial health before listing.
Financial Performance: Strong Growth Ahead of IPO
A major attraction of the Gallard Steel IPO is the company’s robust financial performance over the past two years.
Year-on-Year Performance (FY 2025 vs FY 2024)
Profit increased from ₹3.2 crore to over ₹6 crore, nearly doubling
Revenue jumped from ₹26.8 crore to ₹53.3 crore, reflecting strong execution and demand
Half-Yearly Performance (April–September 2025)
Profit: ₹4.3 crore
Revenue: ₹31.6 crore
Such numbers signal healthy operational efficiency, strong order flow, and scalability—key factors investors consider before subscribing to an SME IPO.
Important Dates for Gallard Steel IPO
Opens: November 19
Closes: November 21
Allotment: November 24
Listing: November 26 on BSE SME
This timeline ensures a short turnaround period, increasing convenience for retail and HNI investors.
Merchant Banker
Seren Capital is the sole lead manager for the Gallard Steel IPO. The firm has handled multiple SME listings in the recent past, most of which saw healthy subscription levels and fair listing-day performance.
Is the Gallard Steel IPO Worth Considering?
The Gallard Steel IPO offers several clear positives:
Rapidly growing revenue and profit
Rising demand from key infrastructure-heavy sectors
Funds used for business expansion, not promoter exit
Strong manufacturing base in an industrial cluster
Debt-reduction strategy improves financial stability
However, investors should also consider standard SME IPO risks, including lower liquidity and higher volatility compared to mainboard issues. Still, the company’s growth trajectory, industry relevance, and strong order pipeline make the Gallard Steel IPO a potentially appealing opportunity for long-term investors.
For those looking to gain exposure to India’s manufacturing, defence, and railway ecosystem, the Gallard Steel IPO stands out as a compelling option entering the SME market.
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Disclaimer
This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult financial advisors before making any investment decisions.
