Gulf Lloyds IPO listing: SME stock Gulf Lloyds (India) listed flat on the BSE on Monday, 27 July, and hit its 5% lower circuit in an otherwise positive market. Gulf Lloyds’ share price opened at ₹100, at par with the issue price, and dropped 5% to its lower price band of ₹95.
Around 10:10 AM on Monday, the SME stock was locked at its lower price band, while the equity benchmark Sensex was 0.70% up at 76,594, boosted by positive global cues, a decline in crude oil prices, and healthy buying in IT, banking and financial heavyweights.
The stock, as per grey market sources, was expected to see a flat listing as the last grey market premium (GMP) of Gulf Lloyds shares was just ₹1.
The stock’s GMP gradually waned from the day the IPO opened. Gulf Lloyds IPO GMP on the first day of its IPO subscription window was ₹29, suggesting the stock could list at a 29% premium to the issue price.
Gulf Lloyds IPO details
Gulf Lloyds IPO opened for subscription on Monday, 20 July and concluded on Wednesday, 22 July, with an overall subscription of nearly 11 times.
The BSE SME IPO was entirely a fresh issue of 18,19,200 shares to raise ₹18.19 crore. The issue price was ₹100 per share.
Gulf Lloyds’ IPO share allotment was finalised on Thursday, 23 July.
Interactive Financial Services Limited was the book-running lead manager, and Kfin Technologies Limited was the registrar of the Gulf Lloyds IPO.
Gulf Lloyds operates in the services sector, providing third-party inspection, auditing, certification, testing, and training services across various industries and regions.
Its consolidated revenue from operations was ₹35.68 crore in FY26, while profit for the year was ₹4.30 crore.
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