Gala Precision Engineering IPO allotment likely today: How to check status, latest GMP and other key details

Gala Precision Engineering is a precision component manufacturer of technical springs like disc & strip springs (DSS); coil & spiral springs (CSS) and Special Fastening Solutions (SFS).

Gala Precision Engineering initial public offer (IPO) was subscribed over 200 times on the last day of subscription on Wednesday.

The initial share sale received bids for 44.79 crore shares against 22.23 lakh shares on offer, as per NSE data.

The quota for non-institutional investors was subscribed 414 times, while the category for retail individual investors (RIIs) fetched 91.95 times subscription. The portion for qualified institutional buyers (QIBs) garnered 232.54 times subscription.

Shares of Gala Precision Engineering are likely to be allotted to bidders on 5th September (Thursday). Those who subscribed to the issue can check their allotment status on the official website of the registrar, Link Intime.

Gala Precision Engineering IPO allotment status check

Step 1: The allotment status can be checked directly from the official website of the registrar, Link Intime (https://linkintime.co.in/initial_offer/).

Step 2: Select the company from the dropdown menu.

Step 3: You check your allotment status by filling in details like PAN, Application number or DP client ID.

Step 4: Press the Submit button

Step 5: Your allotment status will be shown in the window.

Gala Precision Engineering IPO GMP today price

According to multiple websites that track the grey market premium activities, the shares of Gala Precision Engineering are commanding a GMP in the price range of Rs 230 in the unregulated market.

This aggregates the transaction size to Rs 168 crore at the upper end of the price band of Rs 529.

The company supplies its products to original equipment manufacturers (OEMs), Tier 1 and channel partners; used in sectors like renewable energy, including wind turbine and hydropower plants, various industrial sectors like electrical, off-highway equipment, infrastructure and general engineering, mobility segments, such as automotive and railways.