19 Nov 2025 | 5 Mins Read
Gallard Steel IPO attracts overwhelming retail, NII demand
Flipitmoney
Gallard Steel, a railway component manufacturer, received over 5 times subscription for its Rs 37.5 crore IPO on the first day. Retail and non-institutional investors bid 7 and 6.59 times their quotas respectively, while qualified institutional buyers did not participate. The company aims to use IPO proceeds for factory expansion, loan repayment, and general corporate purposes.