Gallard Steel IPO
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Gallard Steel IPO details
Schedule of Gallard Steel
| Issue open date | 19 Nov 2025 |
| Issue close date | 21 Nov 2025 |
| UPI mandate deadline | 21 Nov 2025 (5 PM) |
| Allotment finalization | 24 Nov 2025 |
| Refund initiation | 25 Nov 2025 |
| Share credit | 25 Nov 2025 |
| Listing date | 26 Nov 2025 |
| Mandate end date | 06 Dec 2025 |
| Lock-in end date for anchor investors (50%) | 24 Dec 2025 |
| Lock-in end date for anchor investors (remaining) | 22 Feb 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Gallard Steel
Incorporated in 2015, Gallard Steel Limited is an engineering company engaged in manufacturing ready-to-use components, assemblies, and subassemblies for Indian Railways, defence, power generation, and allied industries. Its product portfolio includes traction motor parts, bogie components, turbine subassemblies, and industrial machinery components made from carbon steel, ductile iron, grey cast iron, and alloy steels.
The company holds Class ‘A’ Foundry Status from RDSO, Ministry of Railways, and is an approved vendor for critical railway and defence components such as suspension tubes, axle boxes, gear cases, and cradle assemblies. Its ISO 9001:2015 certified facility at Pithampur, Madhya Pradesh, is equipped for melting, molding, heat treatment, and precision machining with in-house quality testing to ensure compliance with client standards.
In 2024, the company acquired Sleeploop India Private Limited, expanding into CNC machining and rebonded foam manufacturing. It also established a subsidiary, Gallard Steel Europe B.V., in the Netherlands to strengthen its export presence in the European market.
Financials of Gallard Steel
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 37.50 |
| Fresh Issue – Proceeds go to the company | 37.50 |
Utilisation of proceeds
| Purpose | INR crores (%) | |
| Funding of capital expenditure towards expansion of the existing manufacturing facility and construction of office building | 20.14 (53.70%) | |
| Repayment of a portion of certain borrowings availed by the Company | 7.00 (18.67%) | |
| General corporate purposes | 10.36 (27.63%) |
Strengths
- Manufacturer of a wide range of steel products, including MS pipes, sections, and bars.
- Strategically located manufacturing facility in Gujarat with logistical advantages.
- Established relationships with customers and suppliers, ensuring consistent business.
- Experienced promoters with deep knowledge of steel manufacturing and trading.
- Focus on operational efficiency and quality control to maintain product standards.
Risks
- Dependence on a limited number of suppliers for raw materials.
- Exposure to steel price volatility is impacting margins and cash flow.
- A single manufacturing location increases operational concentration risk.
- High working capital requirements and reliance on debt funding.
- Intense competition from organised and unorganised steel manufacturers.
Allotment Status for Gallard Steel
To check your IPO allotment status:
- Visit the Ankit Consultancy IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allotment status.