Gabion Technologies IPO ends today; subscription surpasses 300x, GMP at 37%

Gabions, rockfall protection nettings, and geosynthetic materials manufacturer Gabion Technologies India continues to witness strong demand for its Initial Public Offering (IPO), which is set to conclude today, January 8, 2025.

 

Valued at ₹29.16 crore, the company’s maiden public share sale has so far garnered massive interest, with subscription levels surpassing 300 times. According to BSE data, as of 11:02 AM on January 8, the Gabion Technologies IPO had been oversubscribed by 303.05 times, with the bulk of the demand coming from non-institutional investors (NIIs) and retail investors. Both investor categories have oversubscribed their respective portions by over 400 times.

 

Among individual categories, the demand for the public offering is primarily being driven by NIIs, who have oversubscribed their reserved portion by 412.86 times. Retail investors have closely followed, with an oversubscription rate of 406.35 times. Qualified institutional buyers (QIBs), although exhibiting the least interest, have still oversubscribed their portion by 9.99 times, according to BSE data.

 

The positive sentiment surrounding the IPO is also reflected in the grey market, where unlisted shares of Gabion Technologies are reportedly trading at a solid premium. According to unofficial market sources, the shares are commanding a grey market premium (GMP) of ₹30 per share, or around 37.04 per cent, over the upper end of the IPO price band of ₹81 per share.

Gabion Technologies IPO details

Gabion Technologies IPO is entirely a fresh issue of 3.6 million equity shares, with no offer-for-sale (OFS) component, as stated in the company’s Red Herring Prospectus (RHP).

 

The public issue is being offered at a price band of ₹76 to ₹81 per share, with a lot size of 1,600 shares. Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereafter.

 

At the upper end of the price band, a retail investor will need to invest ₹2,59,200 for the minimum two-lot application, totaling 3,200 shares.

 

With the subscription window closing today, the basis of allotment is expected to be finalised by Friday, January 9. Successful allottees are likely to see the company’s shares credited to their demat accounts by Monday, January 12, 2026.

 

Shares of Gabion Technologies are scheduled to list on the BSE SME platform on Tuesday, January 13, 2026.

 

As per the RHP, Gabion Technologies plans to utilize ₹22.11 crore of the net proceeds for working capital requirements, while ₹1.05 crore will be allocated toward the purchase of plant and machinery. The remaining funds will be used for general corporate purposes.

 

KFIN Technologies is serving as the registrar for the offering, while GYR Capital Advisors is the sole book-running lead manager.