Gallard Steel IPO listing: Shares of Gallard Steel made a stellar debut today, November 26, as they listed at a massive 49% premium over their initial public offering (IPO) price on the BSE SME.
Gallard Steel share price listed at ₹223.10, a premium of ₹73.10 or 48.73% as against the IPO price of ₹150.
The listing was slightly above the grey market expectations, as the Gallard Steel IPO GMP today was ₹63, hinting at a premium of 42% over the issue price.
Gallard Steel IPO
The issue had received a massive response from all categories of investors, resulting in an oversubscription of 375.54 times. The retail quota was subscribed 351.58 times, the non-institutional investor (NII) segment 624.56 times and the qualified institutional buyer (QIB) portion 228.48 times.
The ₹37.50 crore IPO consisted entirely of a fresh sale of 0.25 crore shares in the price band of ₹142 to ₹150 apiece.
Investors could apply for Gallard Steel IPO, open for bidding from November 19 to November 21, in lots of 1000 shares. Retail investors needed to apply for at least two lots, requiring an investment of ₹3,00,000 at the upper end of the price band.
