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PL Investment Banking, the investment banking arm of PL Capital Group – Prabhudas Lilladher, one of India’s most trusted financial services organisations, has successfully closed the Initial Public Offering of Gala Precision Engineering Ltd worth INR 167.9 crore, acting as the sole book running lead manager. Gala Precision Engineering is a well-established precision component manufacturer with global clientele exceeding 175 customers, exporting to over 25 countries.

The issue was subscribed 201.41 times garnering bids worth INR 23,690 crore (excluding anchor portion), making it the most subscribed mainboard IPO of FY25 so far, by number of times (Source: Chittorgarh). It successfully raised proceeds through a mix of a fresh issuance of shares worth INR 135.3 crore and an offer for sale of INR 32.5 crore. The stock listed at a premium of ~42% on the BSE and ~36% on the NSE, against issue price of INR 529.

As the sole merchant banker, PL Investment Banking led the IPO end-to-end for a seamless transaction, from due diligence, bringing in eight anchor investors and distributing the IPO. PL Investment Banking’s strategic approach ensured optimal engagement with potential investors, driving tremendous interest and making it the 8^th most subscribed mainboard IPO in India since 2007, by number of times (Source: Chittorgarh).

Amisha Vora, Chairman and Managing Director, PL Capital Group said, “This transaction underscores PL Capital Markets' expertise and commitment in delivering top-tier capital market solutions. It cements our position as the preferred partner in India's corporate landscape.”

“Gala Precision’s revenue, EBIDTA and PAT has grown at a CAGR of 24%, 44% & 110% over financial years 2021-2024. Its high RoCE and Return on Net Worth make it a viable investment opportunity. PL Capital is honoured to have added value to Gala Precision's IPO and growth journey. We look forward to partnering with entrepreneurs to provide growth capital and create wealth for investors,” she added.

Uday Patil, Executive Director of Investment Banking at PL Capital Group, said, “The successful completion of this transaction will help Gala Precision pare debt, set up a new facility and fund capex requirements. It underscores PL Capital’s commitment to providing clients with the best possible advice and guidance.”

Kirit Gala, Managing Director at Gala Precision Engineering Ltd, said, “We are honoured to have partnered with one of India's oldest and most trusted financial firms for our journey to Dalal Street. The expertise of the PL team and extensive reach across investors is truly impressive. With the IPO now complete, we are excited to focus on delivering exceptional value to all our shareholders.”

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