Gallard Steel IPO Description –Incorporated in 2015, Gallard Steel is an engineering company engaged in the manufacturing of ready-to-use steel components, assemblies, and subassemblies catering to the Indian Railways, defence, power generation, and allied industries. The company operates through its facility at Dhar, Madhya Pradesh, spread across 12,195 sq. meters, and through its wholly owned subsidiary, Sleeploop India (SIPL), acquired in February 2024.
Recognized as a Class ‘A’ Foundry by RDSO, Ministry of Railways, it is approved for developing and supplying vital railway components such as suspension tubes, axle boxes, gear cases, and control arms. The company’s geographical reach covers 14 states and 1 union territory, with Madhya Pradesh contributing over 53% of revenues.
As of 28 September 2025, Gallard Steel had a total of 53 employees on its rolls.
Promoters of Gallard Steel – Zakiuddin Sujauddin, Hakimuddin Ghantawala, Kaid Johar Kalabhai, Zahabiya Kalabhai, and Mariya Zakiuddin Sujauddin.
Table of Contents
Gallard Steel IPO Details
| Gallard Steel IPO Dates | 19 – 21 November 2025 |
| Gallard Steel Issue Price | INR 142 – 150 per share |
| Fresh Issue | 25,00,000 shares (INR 35.50 – 37.50 crore) |
| Offer For Sale | Nil |
| Total IPO Size | 25,00,000 shares (INR 35.50 – 37.50 crore) |
| Minimum Bid | 2,000 shares (INR 3,00,000) |
| Lot Size | 1,000 shares (INR 1,50,000) |
| Face Value | INR 10 per share |
| Individual Allocation | 35% |
| Listing On | BSE SME |
Gallard Steel Financial Performance
| FY 2023* | FY 2024 | FY 2025 | H1 FY 2026 | |
| Revenue | 20.59 | 26.82 | 53.32 | 31.56 |
| Expenses | 20.12 | 24.19 | 45.10 | 26.56 |
| Net income | 1.13 | 3.20 | 6.07 | 4.29 |
* All Standalone data
Gallard Steel Offer News
- Gallard Steel RHP
- Gallard Steel DHRP
- ASBA IPO Forms
- Live IPO Subscription Status
- Highest SME IPO Subscription in 2025
Gallard Steel Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 | |
| EPS | 2.36 | 5.14 | 8.67 |
| PE ratio | – | – | 16.38 – 17.30 |
| RONW (%) | 18.64 | 28.98 | 35.51 |
| NAV | 12.67 | 17.72 | 24.40 |
| ROCE (%) | 14.23 | 16.42 | 26.59 |
| EBITDA (%) | 9.21 | 18.88 | 23.39 |
| Debt/Equity | 1.55 | 1.60 | 1.19 |
Gallard Steel IPO GMP Today
| Date | Consolidated IPO GMP | Subject to Sauda |
| 25 November 2025 | 70 | 62,000 |
| 24 November 2025 | 70 | 62,000 |
| 22 November 2025 | 70 | 62,000 |
| 21 November 2025 | 35 | 27,500 |
| 20 November 2025 | 35 | 27,500 |
| 19 November 2025 | 11 | 8,500 |
| 18 November 2025 | 11 | 8,500 |
| 17 November 2025 | 11 | 8,500 |
Gallard Steel IPO Subscription – Live Updates
| Category | QIB | NII | Individual | Total |
|---|---|---|---|---|
| Shares Offered | 4,74,000 | 3,60,000 | 8,32,000 | 16,66,000 |
| 21 Nov 2025 | 228.48 | 624.90 | 351.58 | 375.62 |
| 20 Nov 2025 | 1.97 | 57.84 | 48.48 | 37.27 |
| 19 Nov 2025 | 0.00 | 9.08 | 7.59 | 5.75 |
The market maker reservation portion of 1,25,000 shares and the anchor investor portion of 7,09,000 shares are not included in the above calculations.
Gallard Steel IPO Allotment Status
Gallard Steel IPO allotment status will be available on the Ankit Consultancy website. Click on this link to get the allotment status.
Gallard Steel IPO Dates & Listing Performance
| IPO Opening Date | 19 November 2025 |
| IPO Closing Date | 21 November 2025 |
| Finalization of Basis of Allotment | 24 November 2025 |
| Initiation of refunds | 25 November 2025 |
| Transfer of shares to demat accounts | 25 November 2025 |
| IPO Listing Date | 26 November 2025 |
| Opening Price on BSE SME | INR 223.10 per share (up 48.73%) |
| Closing Price on BSE SME | INR 234.25 per share (up 56.17%) |
Gallard Steel Offer Lead Manager
SEREN CAPITAL PRIVATE LIMITED
Office no. 601 to 605, Raylon Arcade,
Kondivita, J.B. Nagar, Mumbai – 400059
Phone: +91- 22-46011058
Email: [email protected]
Website: www.suncapitalservices.co.in
Gallard Steel Offer Registrar
ANKIT CONSULTANCY PRIVATE LIMITED
60, Electronic Complex, Pardeshipura,
Indore (M.P.) 452010
Tel: +91 0731-4949444
E-mail: [email protected]
Website: www.ankitonline.com
Gallard Steel Contact Details
GALLARD STEEL CAST LIMITED
G-1, Sukh Sneh apartments, Khatiwala tank,
Indore, Madhya Pradesh – 452-014
Phone: +91-9644422252
E-mail: [email protected]
Website: www.gallardsteel.com
IPO FAQs
What is the Gallard Steel offer size?
Gallard Steel’s offer size is INR 35.50 – 37.50 crores.
What is the Gallard Steel offer price band?
Gallard Steel public offer price is INR 142 – 150 per share.
What is the lot size of the Gallard Steel IPO?
Gallard Steel offer lot size is 1,000 shares.
What is the Gallard Steel IPO GMP today?
The company GMP today is INR 70 per share.
What is the Gallard Steel kostak rate today?
Gallard Steel kostak rate today is INR NA per application.
What is the Gallard Steel’s IPO Subject to Sauda rate today?
Gallard Steel Subject to Sauda rate today is INR 62,000 per application.