How to Check Gallard Steel IPO Allotment Status

Gallard Steel Limited is engaged in the manufacturing of engineered steel castings, including mild steel, SGCI, and low alloy castings. The company was incorporated in 2015. It manufactures ready-to-use components, assemblies, and subassemblies for Indian Railways, the defence sector, power generation, and allied industries, providing high-quality solutions across various sectors.

Manufacturing operations are carried out at the foundry, located in Pithampur, Dhar, Madhya Pradesh, spanning a land area of 12,195 square meters and certified to ISO 9001:2015. The company utilises a range of in-house machinery and equipment to support processes such as melting, heat treatment, grinding, moulding, sand mixing and finishing. The company supplies components for railway traction motors, defence cradles, power generation guide vanes, and industrial machinery liners, serving sectors such as railways, defence, power generation, and heavy engineering industries.

The company's product portfolio includes steel components (unmachined and machined steel components for various sectors), traction motor and bogie components (for railways), defence components (cradle assemblies, recoiling cylinders, and trunnion housings), thermal and hydro turbine sub-assemblies (guide vanes, bush housings, and fork systems), industrial machinery and equipment (high-temperature resistance liners), and rebonded foam (recycled foam for furniture, mattresses, and industrial products).
As of September 30, 2025, Gallard Steel had total assets of ₹50.33 crore.

The Gallard Steel IPO came with a total issue size of ₹37.50 crore, comprising entirely a fresh issue of ₹37.50 crore. The IPO opened on November 19, 2025, and closed on November 21, 2025. The allotment is expected on Monday, November 24, 2025. The share price band was set at ₹142 to ₹150 per share.

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Steps to Check Gallard Steel IPO Allotment Status on Registrar Site

• Visit the Ankit Consultancy Pvt. Ltd.
• Select "Gallard Steel" from the dropdown menu on the allotment status page
• Enter your PAN ID, Demat Account Number, or Application Number in the designated field
• Complete the captcha verification process and click on the "Submit" button to view your allotment status

Steps to Check Gallard Steel IPO Allotment Status on BSE

• Navigate to the BSE IPO Allotment Status Page
• Select the issue type: equity/debt
• Choose "Gallard Steel" from the list of active IPOs in the dropdown menu
• Input your Application Number and PAN ID in the required fields
• Verify the captcha and click "Search" to check your allotment status

Gallard Steel IPO Subscription Status

Gallard Steel IPO received exceptional investor interest, being subscribed 375.54 times overall. Here is the category-wise breakdown as of 5:34:36 PM on November 21, 2025:

• QIB Category (Ex Anchor): 228.48 times
• Non-Institutional Investors (NII): 624.56 times
• Retail Investors: 351.58 times
   

Gallard Steel IPO Share Price and Investment Details

The minimum investment required was ₹3,00,000 for 2 lots (2,000 shares). The issue raised ₹10.64 crore from anchor investors. Given the exceptional subscription of 375.54 times with exceptional institutional interest at 228.48 times, exceptional NII participation at 624.56 times, and exceptional retail subscription at 351.58 times, the share price is expected to list with strong premium.

Utilisation of IPO Proceeds

The proceeds from the IPO will be utilized for:

• Funding of capital expenditure towards expansion of the existing manufacturing facility and construction of office building (₹20.14 crore)
• Repayment of a portion of certain borrowings availed by the Company (₹7.00 crore)
• General corporate purpose
   

Business Overview

Gallard Steel Limited is engaged in the manufacturing of ready to use components, assemblies and sub-assemblies for Indian Railways, Defense, Power Generation and allied industries. The company posted growth in its top and bottom lines for the reported periods.

The company demonstrated strong financial performance with 92% revenue increase and 90% PAT rise between FY24-FY25. It maintains financial metrics with a 43.16% ROE and a debt-equity ratio of 1.19. The company marked growth in its top and bottom lines.

The company benefits from in-house manufacturing facilities, diverse customer base, wide geographical reach, and stringent quality control mechanism ensuring standardised product quality. However, investors should note the post-issue P/E ratio of 16.6 and Price to Book Value of 6.15.