Madhya Pradesh–based casting company Gallard Steel has secured ₹10.63 crore from four anchor investors as it prepares for its SME IPO.
Here’s a breakdown of what’s happening:
- The IPO is targeting a total raise of ₹37.5 crore, with 25 lakh shares on offer at a price band of ₹142–₹150 per share.
- Anchor allocation: 7.09 lakh shares were allotted on 18 November 2025 to:
- SageOne Flagship Growth OE Fund (₹2.49 cr)
- Cognizant Capital Dynamic Opportunities Fund (₹3 cr)
- Vikasa India EIF I
- Minerva Ventures Fund
- Use of proceeds:
- ~₹20.73 cr will go into expanding manufacturing capacity and building offices
- ~₹7.2 cr will be used to repay debt
- The balance will go toward general corporate purposes
- The issue opens for public subscription on 19 November 2025 and closes on 21 November 2025.
Implications:
- The presence of four institutional anchor investors gives early confidence in Gallard Steel’s IPO.
- For retail investors, the anchor participation may signal a well-backed issue, but careful due diligence is still warranted because of SME-IPO risks.
