Gala Precision Engineering's Shares Surge by Nearly 49%

Shares of Gala Precision Engineering Ltd rose by nearly 49% against the issue price, closing at Rs 787.05 on the BSE. The company's IPO saw 201.44 times subscription. Proceeds will fund new facilities and equipment, debt repayment, and corporate purposes. The firm manufactures precision components, including technical springs and fastening solutions.

Shares of Gala Precision Engineering Ltd concluded with a notable premium of nearly 49% over the issue price of Rs 529, closing at Rs 787.05 on the BSE.

The stock's debut was priced at Rs 750, marking a 41.77% increase from the issue price, and reached a peak of Rs 787.45 during the day. At NSE, the stock listed at Rs 721.10 and ended the session at Rs 757.15, reflecting a 43.12% rise.

The company, with a market valuation of Rs 997.19 crore, witnessed a robust trading volume with 3.97 lakh shares on BSE and 7.89 lakh shares on NSE. The IPO of Gala Precision Engineering garnered 201.44 times subscriptions, with proceeds aimed at establishing new manufacturing facilities, equipment purchase, debt repayment, and general corporate purposes.

(With inputs from agencies.)