Gallard Steel IPO: Status and What It Means

The recent Initial Public Offering (IPO) for Gallard Steel, a company that makes special steel parts, was hugely popular. Investors really wanted to buy shares, with the offering being fully subscribed – meaning everyone who wanted to buy shares was able to. This means the company raised ₹37.5 crore by selling 2.5 million shares at a price between ₹142 and ₹150 each.

Key Points

• Overwhelming demand: Investors bought 349.4 times more shares than offered.
• Share allotment: The company will now decide who gets shares.
• Check your status: Find out if you were allotted shares online.
• Grey market premium: Shares traded at ₹220, a 46.7% premium.
• Tentative Listing: Shares expected on BSE SME platform on November 26th.
• Potential Return: Possible 45%+ return upon listing, depending on trends.

Now that the bidding period is over, the company will determine who receives shares. Investors who applied for the IPO can check their allotment status online. The easiest ways to do this are through the Ankit Consultancy website (ankitonline.com/PublicIssue/FrmPublicIssue.aspx) or the BSE website (bseindia.com/investors/appli_check.aspx).

Alongside the share allotment, the unlisted shares of Gallard Steel have been actively trading in the “grey market” – an unofficial market where shares are traded before they are officially listed. The grey market price for Gallard Steel shares was around ₹220 per share, showing a premium of ₹70, or 46.7% above the initial price range of ₹142 to ₹150.

Gallard Steel is set to list its shares on the BSE SME platform on Wednesday, November 26, 2025. Based on current grey market trends, a successful listing is anticipated, potentially offering investors a significant return – possibly over 45% – if the share price increases upon listing. However, remember that grey market prices are not a guarantee of the final listing price.

The IPO was entirely a new issue of shares, and the company plans to use the money raised for expanding its factory and building a new office. These are important steps for Gallard Steel’s future growth.

Investing in IPOs can be exciting, but it’s important to understand that grey market prices are just estimates.