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

Gallard Steel IPO Details: Dates, Price, GMP & Key Insights