Gallard Steel Ltd - IPO

Gallard Steel Ltd IPO Details

Initial public offer of up to 25,00,000 equity shares of face value of Rs. 10/- each (the equity shares) of Gallard Steel Limited (the company or GSL or the issuer) at an issue price of Rs.150/- per equity share for cash, aggregating up to Rs.37.50 crores(public issue) out of which 1,25,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 150/- per equity share for cash, aggregating Rs. 1.88 crores will be reserved for subscription by the market maker to the issue (the market maker reservation portion). The public issue less market maker reservation portion i.e. issue of 23,75,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 150/- per equity share for cash, aggregating up to Rs.35.63 crores is herein after referred to as the net issue. The public issue and net issue will constitute 26.32% and 25.00% respectively of the post-issue paid-up equity share capital of the company.Price Band: Rs. 150for equity share of face value of Rs. 10 each.The floor price is 15.20 times times the face value times of the face value of the equity shares.Bids can made for a minimum of 2,000 equity shares and in multiples of 1,000 equity shares thereafter.

Objective of issue

Funding of capital expenditure towards expansion of the company existing Manufacturing facility and construction of office building. Repayment of a portion of certain borrowings availed by the company. General corporate purpose.

Gallard Steel Ltd Contact Details

Gallard Steel Ltd, Plot No. 60, Electronic Complex, Pardeshipura, Indore - 452010

Phone - 91-0731-3198601/3198602

Fax - 91-0731-4065798

Email - cs@gallardsteel.com

Website - https:, www.gallardsteel.com