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New Delhi: Two new IPOs will open for subscription on November 19, Wednesday - Excelsoft Technologies IPO and Gallard Steel IPO. Excelsoft will raise Rs 500 crore through its public issue, while Gallard Steel will raise Rs 37.50 crore. Both the IPOs are decently performing the grey market.
Gallard Steel IPO, is a book-built SME IPO of Rs 37.50 crore in which 0.25 crore new shares will be issued altogether. The price band of the IPO has been fixed at Rs 142-150 per share. In this, Serene Capital Private Limited is the lead manager and Ankit Consultancy Private Limited will play the role of registrar.
Gallard Steel reported a profit of Rs 6 crore in FY25, which is almost double from last year's Rs 3.2 crore. The company's revenue also doubled to Rs 53.3 crore, compared to Rs 26.8 crore last year. In Q2, the company's profit was Rs 4.3 crore and revenue was Rs 31.6 crore.
The latest Gallard Steel IPO GMP stood at Rs 11. According to Investorgain, it may be listed at Rs 161 as compared to its price band of Rs 150. It may get an expected gain of about 7.33% per share. Its grey market premium i.e. GMP has been stable for the last four days.
It is a Madhya Pradesh-based engineering company that manufactures components for railways, defence, power generation and other industries. The company will spend Rs 20.73 crore of the amount raised from the IPO on expansion of manufacturing units and construction of office buildings, while Rs 7.2 crore will be used to repay loans and the remaining amount will be spent on general corporate needs.
Excelsoft Technologies IPO will also be open from 19th November to 21st November. This is a book-built issue of Rs 500 crore, which includes a fresh issue of Rs 180 crore and an OFS of Rs 320 crore.
This will include 125 shares in one lot. Investors will have to buy at least 1 lot at the upper price band of Rs 120, for which Rs 15000 will have to be deposited. At the same time, they can buy a maximum of 13 lots, for this they will have to invest Rs 1,95,000.
Excelsoft Technologies IPO GMP
According to Investorgain, Excelsoft Technologies IPO GMP was recorded at Rs 15 on the morning of 19th November. Its GMP has rolled down before it opened. Earlier on 16th November, it was Rs 20, which has now come down to Rs 15. It is predicted that the stock can be listed at Rs 135 against its price band of Rs 120. It is expected to get a listing gain of 12.50%.
Excelsoft Technologies Financials
In FY23, the company made a profit of Rs 22.41 crore, which came down to Rs 12.75 crore in FY24. But in FY25, the company made a tremendous comeback and registered a profit of Rs 34.69 crore. Profit in the June quarter of the current financial year was Rs 6 crore.
Talking about revenue, it jumped to Rs 195.1 crore in FY23, Rs 198.30 crore in FY24 and to Rs 233.29 crore in FY25. The company reported revenue of Rs 55.72 crore in the June quarter.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver and crypto assets.)
