Gallard Steel Limited, established in 2015, provides high-quality engineered steel castings to critical sectors. The company delivers precision-made components, assemblies, and subassemblies for Indian Railways, defence applications, power generation, and heavy engineering. Operating from its ISO 9001:2015 certified foundry in Pithampur, which spans over 12,195 square meters, Gallard Steel leverages its in-house capabilities in melting, moulding, heat treatment, and finishing to ensure quality and reliability in its products, which range from railway traction motors to defence cradles.
The Initial Public Offering (IPO) of Gallard Steel Limited will be open for subscription from November 19, 2025, to November 21, 2025. Structured as a Book Built Issue, the IPO aims to raise approximately ₹37.50 crores through a fresh issue, alongside an offer for sale of [.] equity shares (face value ₹10). The price band has been set between ₹142 and ₹150 per share. The allotment is scheduled for November 24, 2025, with listing on the BSE expected on November 26, 2025. The share allocation is 35% for Retail Investors, 50% for QIBs, and 15% for HNIs.
Financially, the company demonstrated strong growth, with revenue surging to ₹535.24 crores in 2025 from ₹278.61 crores in 2024. Similarly, profits saw a significant increase, reaching ₹60.67 crores in 2025 compared to ₹31.96 crores in the previous year.
Gallard Steel IPO Details
| IPO Date | November 19, 2025 to November 21, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹142 to ₹150 per share |
| Issue Price Final | ₹150 per share |
| Lot Size | 1,000 Shares |
| Total Issue Size | Approx ₹37.50 Crores |
| Fresh Issue | Approx ₹37.50 Crores |
| Issue Type | Book building IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 70,00,000 shares |
| Share Holding Post Issue | 95,00,000 shares |
Gallard Steel IPO Dates
The Initial Public Offering (IPO) for Gallard Steel is scheduled to commence on November 19, 2025, and will conclude on November 21, 2025.
| IPO Open Date | Wed, Nov 19, 2025 |
| IPO Close Date | Fri, Nov 21, 2025 |
| Tentative Allotment | Mon, Nov 24, 2025 |
| Refunds | Tue, Nov 25, 2025 |
| Credit of Shares to Demat | Tue, Nov 25, 2025 |
| Tentative Listing Date | Wed, Nov 26, 2025 |
| UPI Mandate Confirmation Deadline | 5 PM on Fri, Nov 21, 2025 |
Gallard Steel IPO Market Lot
Gallard Steel IPO, the minimum market lot has been set at 2,000 shares, requiring a total application amount of ₹3,00,000.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,000 | ₹3,00,000 |
| Retail Maximum | 2 | 2,000 | ₹3,00,000 |
| S-HNI Minimum | 3 | 3,000 | ₹4,50,000 |
| S-HNI Maximum | 6 | 6,000 | ₹9,00,000 |
| B-HNI Minimum | 7 | 7,000 | ₹10,50,000 |
