Gallard Steel IPO subscribed 349x; check allotment status, latest GMP

Gallard Steel IPO allotment status: The initial public offering (IPO) of engineered steel castings manufacturer Gallard Steel received an overwhelming demand from investors, with the issue being oversubscribed by a massive 349.4 times by the end of the subscription period on Friday, November 21, 2025.

 

With the bidding now closed, the next step is the share allotment, which is expected to take place today, November 24, 2025.

 

Investors who applied for the Gallard Steel IPO can check their allotment status online through the BSE or the registrar Ankit Consultancy's website.

Alternatively, investors can use the direct links below to check the Gallard Steel IPO allotment status:

 

Check Gallard Steel IPO allotment status on Ankit Consultancy: ankitonline.com/PublicIssue/FrmPublicIssue.aspx

 

Check Gallard Steel IPO allotment status on BSE: bseindia.com/investors/appli_check.aspx

Gallard Steel IPO grey market premium (GMP) today

As the allotment process is underway, the unlisted shares of Gallard Steel are witnessing strong activity in the grey market. Sources tracking unofficial market activity showed that the company’s unlisted shares were trading at around ₹220 per share, reflecting a GMP of ₹70, or 46.7 per cent over the upper end of the price band of ₹142 to ₹150.  Check Excelsoft Tech IPO Allotment Status, GMP, listing date

Gallard Steel IPO tentative listing

Shares of Gallard Steel are scheduled to debut on the BSE SME platform tentatively on Wednesday, November 26, 2025. Grey market trends suggest a favourable listing, assuming the current sentiment holds. If the current grey market trends continue, Gallard Steel shares could post a massive return of over 45 per cent upon listing. The NSE has capped the listing gain of SME IPOs at a 90 per cent premium.  

 

However, since grey market activity is unofficial and unregulated, investors should not rely solely on GMP as an indicator of the listing price or post-listing performance.

Gallard Steel IPO details

The public offering consisted entirely of a fresh issue of 2.5 million shares, aggregating to ₹37.5 crore. The company offered the shares in a price band of ₹142 to ₹150 per share, with a lot size of 1,000 shares.

 

The issue was open for subscription from Wednesday, November 19, to Friday, November 21, 2025.

 

Ankit Consultancy is the registrar to the issue, while Seren Capital is the sole book-running lead manager.

 

According to the RHP, the company proposes to utilise the proceeds from the issue for expansion of the existing manufacturing facility and construction of an office building, and repayment of certain debt availed by the company. The remaining funds will be used for general corporate purposes.