Gala Precision Engineering's IPO has seen tremendous interest, being oversubscribed 41 times by 3:15 PM on Day 2. The IPO, priced between Rs 503-529 per share, started on September 2 and aims to raise Rs 167.93 crore.
Non-institutional and employee portions are almost 100 times subscribed. The grey market premium suggests a possible listing gain of over 50%. The company, known for its precision components, reported a net profit of Rs 22.33 crore for FY 2023-24. The issue concludes on September 4, with listing expected on September 9.