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.
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.
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.
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.
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.
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.
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.
To apply via a bank’s ASBA facility:
Log in to your internet banking account.
Go to the ‘Investments’ or ‘IPO Application’ section.
Select ‘Gallard Steel IPO’ from the list of active issues.
Enter the number of lots and your bid price.
Confirm your application and submit.
Your funds will be blocked until allotment.
Upon allotment, the amount is debited, and shares are credited to your Demat account.
To apply using UPI:
Log in to your Demat account or trading account.
Navigate to the IPO section and choose ‘Gallard Steel IPO’.
Enter your bid details (lots, price).
Provide your UPI ID linked to your bank.
Approve the UPI mandate in your UPI app.
Funds will be blocked until allotment.
Allotted shares, if any, will be credited automatically to your Demat account.
Also Check
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
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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