Gala Precision Engineering IPO will open tomorrow: Investors can bid till September 4, minimum investment ₹ 14,812

Gala Precision Engineering Limited's Initial Public Offering i.e. IPO will open tomorrow. Investors will be able to bid for this IPO till September 4. On September 9, the company's shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Gala Precision Engineering wants to raise a total of ₹ 167.93 crore through this issue. For this, the company is issuing 2,558,416 fresh shares worth ₹ 135.34 crore. At the same time, the existing investors of the company are selling 616,000 shares worth ₹ 32.59 crore through Offer for Sale i.e. OFS. If you are also planning to invest money in it, then we are telling you how much you can invest in it. How much minimum and maximum money can you invest? Gala Precision Engineering has fixed the price band of this issue from ₹ 503 to ₹ 529. Retail investors can bid for a minimum of one lot i.e. 28 shares. If you apply for 1 lot as per the IPO's upper price band of ₹529, then you will have to invest ₹14,812 for it. At the same time, retail investors can apply for a maximum of 13 lots i.e. 364 shares. For this, investors will have to invest ₹192,556 as per the upper price band. 35% of the issue reserved for retail investors The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII). Gala Precision Engineering was established in February 2009 Gala Precision Engineering Limited was established in February 2009. The company manufactures precision components such as disc and strip springs (DSS), coil and spiral springs (CSS) and special fastening solutions (SFS). The company's products are used in electrical, off-highway equipment, infrastructure and general engineering as well as automotive and railways. The company supplies technical springs and high tensile fasteners to many countries including Germany, Denmark, China, Italy, Brazil, USA, Sweden and Switzerland. What is an IPO? When a company issues its shares to the general public for the first time, it is called an Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.

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