The IPO of Gala Precision Engineering Limited, which opened on September 2, 2024, continues to attract significant attention on its second day of bidding. The public offering, scheduled to close on September 4, 2024, has already demonstrated a strong investor response.
On the second day of bidding, the Gala Precision Engineering IPO has seen impressive subscription figures. Overall, the issue is subscribed 18.06 times, indicating robust demand. The retail portion is oversubscribed 20.01 times, showing strong interest from individual investors. The non-institutional segment is filled 35.87 times, reflecting high enthusiasm from this group. The Qualified Institutional Buyers (QIB) portion is subscribed 0.88 times, showing a notable, though lower, interest from institutional investors.
The grey market is buzzing with activity, with Gala Precision Engineering shares trading at a premium of ₹270. This indicates a grey market premium (GMP) of ₹270, suggesting that investors might expect a listing gain of approximately 51 percent when the shares debut on the stock exchange. The strong GMP highlights the high expectations and confidence in the IPO’s performance.
Key Dates to Remember
For those involved in the IPO, here are the important upcoming dates:
- Allotment Date: Investors will likely find out if they have been allocated shares on September 5, 2024.
- Listing Date: Gala Precision Engineering is expected to list its shares on the stock exchange on September 9, 2024.
The impressive subscription figures and substantial grey market premium reflect strong investor sentiment towards Gala Precision Engineering’s IPO. This level of interest suggests that many are optimistic about the company’s prospects and the potential for gains. However, it’s essential for investors to remain cautious and consider all risks associated with IPO investments.
the Gala Precision Engineering IPO is off to a strong start, with high subscription rates and a positive outlook in the grey market. As the offering progresses towards its closing date, it will be interesting to see how the final numbers shape up and how the shares perform on their listing day.
