Gallard Steel Share Extend Post-Listing Rally, Hit ₹245.95 on BSE SME

Mumbai, November 27, 2025: Gallard Steel Ltd continued its strong post-listing momentum for the third straight session on Thursday, rising nearly 5% in early trade on the BSE SME platform. The stock’s latest surge comes just a day after its impressive market debut at ₹223 a hefty 48.73% premium to its IPO issue price of ₹150. The robust opening has triggered fresh buying interest, keeping the counter firmly buoyant.

Founded in 2015, Gallard Steel Ltd manufactures metal parts and components used across Indian Railways, defence, power generation, and various engineering industries. Its production facility is situated in the Pithampur Industrial Area of Madhya Pradesh. The company has shown consistent financial growth, reporting revenue of ₹53.3 crore in FY25 and net profit exceeding ₹6 crore. It continued this momentum in Q1 FY26 with a net profit of ₹4.3 crore. The funds raised through the IPO will be directed towards capacity expansion, strengthening office infrastructure, repaying debt, and meeting general corporate requirements.

Stock Market Performance

By 2:55 PM IST, the stock price of Gallard Steel was at ₹246, up by 4.99%, extending its upward trajectory. The stock touched an intraday high of ₹245.95, which also marked its new 52-week high. It hovered near this level for most of the session, signalling sustained investor confidence and strong market appetite

IPO Performance and Subscription Response

Gallard Steel’s IPO generated outstanding enthusiasm, ending with an overall subscription of 349.40 times. The Qualified Institutional Buyers category drew subscriptions of 228.48 times, while the Non-Institutional Investor segment saw massive interest with 746.48 times subscription for bids above ₹10 lakh and 381.75 times for bids up to ₹10 lakh. Retail investors also played a major role, subscribing 351.58 times. With 1,84,587 applications received, the issue demonstrated strong market appetite for the company’s growth prospects and helped fuel the stock’s robust listing performance.

Anchor Investment and Allotment

Before the IPO opened, the company secured ₹10.63 crore from anchor investors through the allotment of 7,09,000 shares at ₹150 each. Key anchor participants included Vikasa India EIF I Fund – Incube Global Opportunities, Dynamic Opportunities Fund, Sageone Flagship Growth OE Fund, and Minerva Ventures Fund. Seren Capital acted as the lead manager to the issue, and Ankit Consultancy Pvt Ltd served as the registrar.

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations