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IPO Insights: Upcoming Issues & Smart Investment Tips

Gallard Steel IPO – Subscription Status, Dates, and How to Apply

Anshika

Explore how Gallard Steel’s IPO opened in the market, including subscription trends, price band, issue structure, and a detailed guide on how to apply via ASBA or UPI.

The Gallard Steel Ltd IPO opened for subscription on 19 November 2025, drawing strong attention from investors in the metals and industrial manufacturing space. Known for its diversified steel product portfolio and consistent presence in the industrial supply chain, the company has launched a ₹37.50 crore public issue through the book-building route.

With a price band of ₹142–₹150 per share and a face value of ₹10, the IPO has already seen impressive traction from retail and non-institutional investors on its opening day.

Gallard Steel IPO Subscription Status

The Gallard Steel IPO opened with considerable enthusiasm, led by strong retail and NII participation. The IPO remains open for subscription until 21 November 2025.

Day 1 Subscription Status (19 November 2025)

On Day 1, the Gallard Steel IPO registered robust demand, with retail and non-institutional investors driving early momentum. Below are the key issue details:

Investor Category Subscription (Times)

Qualified Institutional Buyers (QIB)

0.00x

Retail Individual Investors (RII)

4.17x

Non-Institutional Investors (NII)

4.76x

Total

3.23x

The overall subscription of 3.23x on Day 1 reflects strong demand, especially from retail investors, who oversubscribed more than 4 times. NII response was equally positive, while institutions typically participate later in the bidding window.

Day 2 Subscription Status (20 November 2025)

The Gallard Steel Ltd IPO witnessed a strong surge in investor participation on Day 2, building on its impressive first-day momentum. Robust demand from retail and non-institutional investors continued to drive the subscription numbers upward, while institutional activity also showed improvement.

Investor Category Subscription (Times)

Qualified Institutional Buyers (QIB)

3.42x

Retail Individual Investors (RII)

32.10x

Non-Institutional Investors (NII)

38.80x

Total

26.95x

The strong participation across categories indicates rising confidence in Gallard Steel’s business visibility and sectoral prospects. With retail and NII categories far ahead of full subscription levels, the IPO continues to gain traction as it approaches the final bidding day.

Gallard Steel IPO Price Band and Lot Size

The price band and lot structure have been designed to attract investors across segments.

The Gallard Steel IPO price band is set at ₹142 to ₹150 per share, with a face value of ₹10. The minimum bid requires investors to apply for 1000 shares, and bids must be placed in multiples of 1000 thereafter.

At the upper price band of ₹150, the minimum investment for one lot is:
1000 shares × ₹150 = ₹1,50,000

Investor Category Lots Shares Amount (₹)

Retail (Min/Max)

1

1000

₹1,50,000

S-HNI (Min)

7

7,000

₹10,50,000

S-HNI (Max)

33

33,000

₹49,50,000

B-HNI (Min)

34

34,000

₹51,00,000

The relatively higher minimum investment positions this IPO primarily for investors seeking exposure to the industrial and steel manufacturing sector.

For detailed insights about the company, issue details, and updates, visit the Gallard Steel IPO page on Bajaj Markets.

Gallard Steel IPO Open Date, Close Date, and Allotment Date

Below is the complete IPO timeline, covering subscription, allotment, and listing details:

Event Date Details

IPO Open Date

19 November 2025

Subscription begins

IPO Close Date

21 November 2025

Final day to apply

Basis of Allotment

24 November 2025

Allotment finalisation

Refunds Initiation

25 November 2025

Refunds for non-allottees

Credit of Shares

25 November 2025

Shares credited to Demat

Listing Date

26 November 2025

Expected listing on NSE/BSE

Note: These dates represent procedural milestones based on publicly available data and are intended for informational purposes only.

How to Apply for Gallard Steel IPO

Investors can apply for the Gallard Steel IPO using either ASBA through their bank’s net banking portal or UPI through broker platforms. Both methods offer secure and seamless application experiences.

Through ASBA (Net Banking)

To apply via a bank’s ASBA facility:

  1. Log in to your internet banking account.

  2. Go to the ‘Investments’ or ‘IPO Application’ section.

  3. Select ‘Gallard Steel IPO’ from the list of active issues.

  4. Enter the number of lots and your bid price.

  5. Confirm your application and submit.

  6. Your funds will be blocked until allotment.

  7. Upon allotment, the amount is debited, and shares are credited to your Demat account.

Through UPI via Broker Platforms

To apply using UPI:

  1. Log in to your Demat account or trading account.

  2. Navigate to the IPO section and choose ‘Gallard Steel IPO’.

  3. Enter your bid details (lots, price).

  4. Provide your UPI ID linked to your bank.

  5. Approve the UPI mandate in your UPI app.

  6. Funds will be blocked until allotment.

  7. Allotted shares, if any, will be credited automatically to your Demat account.

Also Check

Disclaimer

The information provided above is based on publicly available data from reliable financial news and market sources. Investors are advised to verify figures and consult financial experts before making investment decisions. Market conditions and subscription numbers are subject to change during the IPO window.

Sources

  • LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
  • Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
  • Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
  • NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
  • Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
Hi! I’m Anshika
Financial Content Specialist

Anshika brings 7+ years of experience in stock market operations, project management, and investment banking processes. She has led cross-functional initiatives and managed the delivery of digital investment portals. Backed by industry certifications, she holds a strong foundation in financial operations. With deep expertise in capital markets, she connects strategy with execution, ensuring compliance to deliver impact. 

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