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<ul><li><keyword id="20623836" type="General" weightage="20" keywordseo="Gala-Precision-Engineering-IPO" source="Orion">Gala Precision Engineering IPO</keyword> has been fully subscribed within minutes after opening.</li><li>The ₹168 crore IPO from the company will close on Wednesday, September 4.</li><li>Gala Precision Engineering Ltd has fixed a price band of ₹503-529 per share</li></ul>The initial public offer (IPO) of Gala Precision Engineering was fully subscribed within minutes of opening for bidding on Monday. The IPO will close on Wednesday, September 4. Gala Precision Engineering is a precision component manufacturer of technical springs like disc &amp; strip springs (DSS); coil &amp; spiral springs (CSS) and Special Fastening Solutions (SFS). The company supplies its products to original equipment manufacturers (OEMs), Tier 1 and channel partners; used in sectors like renewable energy, including wind turbine and hydropower plants, various industrial sectors such as electrical, off-highway equipment, infrastructure and general engineering, mobility segments such as automotive and railways. The initial share sale received bids for 47,77,444 shares against 22,23,830 shares on offer, reflecting 2.15 times subscription, as per NSE data till 11:21 AM. The portion for Retail Individual Investors (RIIs) garnered 3.15 times subscription while the quota for non-institutional investors was subscribed 2.54 times. Gala Precision Engineering Ltd has fixed a price band of ₹503-529 per share for its ₹168 crore <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The IPO includes a fresh issue of 25.58 lakh equity shares worth ₹135.34 crore and an offer for sale (OFS) of 6.16 lakh equity shares valued at ₹32.58 crore by promoter group entities and individual shareholders. This aggregates the transaction size to ₹168 crore at the upper end of the price band of ₹529. Proceeds from the fresh issue will be used for setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbudur in Tamil Nadu for manufacturing high tensile fasteners and hex bolts; purchase of equipment, plant and machinery at Wada, Palghar in Maharashtra; payment of debt and general corporate purposes. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-13-plus-5g-vs-iqoo-z9s-pro-battle-of-the-under-25000-smartphones/slidelist/112924868.cms">Realme 13 Plus 5G vs iQOO Z9s Pro – Battle of the under ₹25,000 smartphones</a> <a href="https://www.businessinsider.in/stock-market/webstories/baazar-style-retail-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112920678.cms">Baazar Style Retail IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-september-2024/slidelist/112917920.cms">Upcoming cars launching in India in September 2024</a>

Gala Precision Engineering IPO fully subscribed within minutes on day one

<ul><li><keyword id="10896637" type="General" weightage="20" keywordseo="Paras-defence-and-space-technologies" source="Orion">Paras Defence and Space Technologies</keyword> gets subscribed 23.90 times as on the second day of bidding.</li><li>The portion reserved for retail investors has been subscribed 44.65 times.</li><li>Analysts believe the IPO is a good bet for the long term considering it gets 50% of its revenue from government entities.</li></ul>Paras Defence and Space Technologies IPO has been subscribed 23.90 times till 11:59 a.m., on September 22. Overall, investors have bid for 17.06 crore shares as against 68.31 lakh shares offered by the company. Mumbai-based Paras Defence and Space Technologies has grabbed investor’s attention on huge demand for the IPO. On the first day, the IPO was fully subscribed in just one hour of bidding. The initial public offering (IPO) got a good response from investors in terms of subscription compared to other recent IPOs. The majority of the demand was from retail investors as the portion reserved for retail investors was subscribed 44.65 times. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscription Status </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">0.04 times </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.80 times </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Retail individual </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">44.65 times </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">23.90 times </td></tr></tbody><tbody></tbody></table>The IPO consists of ₹140.6 crore fresh issue and offer for sale worth ₹30.17 crore by the promoters with a price band of ₹165-175 a share. The company is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. Shares of the Mumbai-based defence company were <a href="https://www.moneycontrol.com/news/business/markets/paras-defence-and-space-technologies-ipo-shares-trade-at-over-125-premium-in-grey-market-7484071.html">reportedly</a> trading at a premium of ₹220 per share, up by over 125% from the price band of ₹165-170. Analysts have recommended subscribing to the IPO for the long term on strong growth prospects. “Company has [a] wide range of products and solutions for both defence and space applications. Company being one of the few players in high precision optics manufacturing for space and defence application in India has strong R&amp;D [research and development] capabilities with focus on innovation and is well positioned to benefit from the government’s “Atmanirbhar Bharat” and “Make in India” initiatives. Also, the company's strong order book gives good revenue visibility going forward,” said analysts at HEM Securities while recommending to subscribe to the IPO for long term. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/zomato-swiggy-ola-uber-app-gig-workers-move-supreme-court/articleshow/86420264.cms">Gig workers move Supreme Court seeking social security benefits from Zomato, Swiggy, Ola and Uber</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zee-sony-merger-heres-what-sony-is-really-getting-from-zee-entertainment/articleshow/86420990.cms">Zee-Sony merger: Here’s what Sony is really getting from Zee Entertainment</a>

Paras Defence and Space Technologies IPO gets blockbuster demand from investors

<ul><li>The company is likely to announce its share allotment status on September 28.</li><li>The Mumbai-based defence company’s IPO was subscribed 304 times on the last day of bidding.</li><li>Investors have bid for 217 crore shares against the 71.40 crore shares on offer.</li></ul>Mumbai-based defence company Paras Defence and Space Technologies is likely to announce the allotment of its initial public offering (IPO) status on Tuesday, September 28. The IPO was open for subscription between September 21 and September 23. The company is looking to raise ₹170 crore out of which ₹140 crore is through fresh issue ₹30 crore is through offer for sale (OFS) by the promoters. The IPO has received very strong response from investors especially from qualified institutional buyers and non-institutional investors. Overall, investors have bid for 217 crore shares against the 71.40 crore shares on offer. The portion for qualified institutional investors was subscribed 169.65 times while the non-institutional investor category received a bid for 927.70 times. The public issue of the company was a hit among investors as it was fully subscribed in just one hour of bidding on the first day. <a href="https://www.zeebiz.com/market-news/news-paras-defence-ipo-creates-history-massive-retail-push-makes-it-most-oversubscribed-ipo-ever-heres-why-165973">Reportedly</a>, Paras Defence and Space Technologies’ IPO is one of the most highly subscribed IPOs in history. Other IPOs that made into the list of most subscribed include Astron Paper &amp; Board Mill with 241.8 times, Mrs. Bectors (198 times), Capacite Infraprojects (183 times), Ujjivan Small Finance Bank (165.7 times), and Amber Enterprises (165.4 times). The company is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. One of the reasons for the IPO to become a huge hit was its robust grey market premium. Shares of Paras Defence &amp; Space Technologies were reportedly trading at a premium of ₹260 per share, up by over 150% from the price band of ₹165-170. More importantly, most analysts had recommended subscribing to the IPO for the long term on strong growth prospects. “Company has [a] wide range of products and solutions for both defence and space applications. Company being one of the few players in high precision optics manufacturing for space and defence application in India has strong R&amp;D [research and development] capabilities with focus on innovation and is well positioned to benefit from the government’s “Atmanirbhar Bharat” and “Make in India” initiatives. Also, the company's strong order book gives good revenue visibility going forward,” said analysts at HEM Securities while recommending to subscribe to the IPO for long term. Analysts at Choice Broking say the company doesn’t have any peers in the listed space which they believe is an add-on. “Considering its niche product profile and technology, dominant market positioning and vast growth potential, we assign a “SUBSCRIBE” rating for the issue.” SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/pvr-inox-vodafone-idea-hdfc-bank-and-other-top-stocks-to-watch-out-for-on-september-27/slidelist/86545560.cms">PVR, Inox, Vodafone Idea, HDFC Bank and other top stocks to watch out for on September 27</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ofbusiness-was-the-only-woman-led-startup-that-entered-the-unicorn-club-this-year/articleshow/86511076.cms">OfBusiness was the only woman led startup that entered the unicorn club this year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-motors-coal-india-ntpc-and-other-underperforming-stocks-in-last-10-years/slidelist/86535881.cms">Those who have held these stocks for a decade have only lost money</a>

Paras Defence and Space Technologies IPO allotment is tomorrow, IPO was subscribed 304 times

<ul><li><keyword id="267527" type="COMPANY" weightage="20" keywordseo="Craftsman-Automation">Craftsman Automation</keyword> has launched its ₹824 crore initial public offer (IPO) today, and it will be open for subscription till March 17.</li><li>The price band is fixed at ₹1,488-1,490, and each lot consists of 10 equity shares.</li><li>While some investment experts are bullish on the stock and suggest subscribing, others have pointed out certain risk factors.</li><li>This includes the risk posed by electric vehicles and supply chain shocks, among others.</li></ul>It’s raining initial public offers (IPO) this month, and the latest to join the list is the ₹824-crore <keyword id="10449692" type="UNKNOWN" weightage="20" keywordseo="Craftsman-Automation-IPO">Craftsman Automation IPO</keyword>. The Coimbatore-based company has kicked off its IPO today, March 15, with a price band of ₹1,488-1,490, netting you 10 shares per lot. The total IPO size is worth ₹824 crore, but Craftsman Automation has already secured ₹247 crore from anchor investors. 50% of the issue is reserved for qualified institutional buyers (QIB), 15% for non-institutional bidders and the remaining 35% for retail investors. <cmsannotation type="cmsannotation" annotationid="Understanding the business of Craftsman Automation" comment="subhead" text="Understanding the business of Craftsman Automation">Understanding the business of Craftsman Automation</cmsannotation> Craftsman Automation was founded in 1986 in Coimbatore. It has vertically integrated manufacturing capabilities and primarily caters to three business verticals – automotive-powertrain, automotive-aluminum, and industrial &amp; engineering. Craftsman is the leading player when it comes to machining of cylinder blocks and cylinder heads which are used in the commercial vehicles and construction equipment industries. It is also one of the top companies when it comes to supplying these parts in the tractor segment. Coming to the automotive-aluminum vertical, Craftsman has an array of processes in the high pressure, low pressure and gravity die casting for manufacturing auto components for passenger vehicles. In the industrial and engineering vertical, Craftsman builds aluminum products for power transmission, high-end precision products like gear boxes, marine engines and more. <cmsannotation type="cmsannotation" annotationid="Here are some of the clients of Craftsman Automation" comment="subhead" text="Here are some of the clients of Craftsman Automation">Here are some of the clients of Craftsman Automation</cmsannotation> Craftsman Automation has an impressive list of clients that includes companies like Daimler India, Tata Motors, Ashok Leyland, Mahindra &amp; Mahindra, Escorts, John Deere, JCB India, TVS Motors, Royal Enfield among others. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Marwadi Financial Services </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Craftsman Automation – strengths and risk factors" comment="subhead" text="Craftsman Automation – strengths and risk factors">Craftsman Automation – strengths and risk factors</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Diversified engineering company" comment="subhead" text="Diversified engineering company">Diversified engineering company</cmsannotation> Craftsman is the largest player in the machining of cylinder blocks and cylinder heads used in commercial vehicles and construction industry. Apart from this, it also offers products in the passenger vehicle, power transmission, marine engine segments, among others. “Its diversification of revenue across multiple customers allows it to prevent any possible customer concentration in any of its business segments,” stated a report by SMC Global Securities dated March 10. <cmsannotation type="cmsannotation" annotationid="Strong in-house processes and designing capabilities" comment="subhead" text="Strong in-house processes and designing capabilities">Strong in-house processes and designing capabilities</cmsannotation> The SMC report further adds that Craftsman has a ‘strong focus’ on research and development. Its manufacturing automation teams integrate robots and gantry systems, which helps in ensuring consistent quality. The report notes that Craftsman’s design capability is unique amongst its competitors. <cmsannotation type="cmsannotation" annotationid="Impressive domestic and global clientele" comment="subhead" text="Impressive domestic and global clientele">Impressive domestic and global clientele</cmsannotation> Craftsman has a range of marquee clientele, both domestic as well as global. Some of the big domestic names include Tata Motors, Mahindra &amp; Mahindra, Ashok Leyland, TVS Motors, Royal Enfield and others. Global names in the list include the likes of John Deere, India subsidiaries of Daimler, JCB among others. <cmsannotation type="cmsannotation" annotationid="Improving margins despite challenging business environment" comment="subhead" text="Improving margins despite challenging business environment">Improving margins despite challenging business environment</cmsannotation> Despite a challenging business environment and falling revenues, Craftsman has been able to improve its earnings. While its revenues fell by nearly 18% from March 2019 to March 2020, its earnings before interest, tax, depreciation and amortisation (EBITDA) improved from 25.12% to 27.24%. EBITDA is a measure of the company’s financial performance. <cmsannotation type="cmsannotation" annotationid="Powertrain and allied components prone to electric vehicles risk" comment="subhead" text="Powertrain and allied components prone to electric vehicles risk">Powertrain and allied components prone to electric vehicles risk</cmsannotation> While Craftsman’s prowess in the powertrain segment adds heft to the company’s profile, powertrain components would be obsolete when the present internal combustion engine (ICE) based vehicles are replaced by electric vehicles (EVs). <cmsannotation type="cmsannotation" annotationid="Low aftermarket presence ties company’s fortunes to OEMs" comment="subhead" text="Low aftermarket presence ties company’s fortunes to OEMs">Low aftermarket presence ties company’s fortunes to OEMs</cmsannotation> Craftsman caters to original equipment manufacturers (OEMs) across its three business verticals. Some of these OEMs operate in industries like automotive, steel, cement among others, which are cyclical in nature. As such, the demand tapers off in some seasons, and since Craftsman directly serves OEMs, its fortunes are tied to those of the OEMs. <cmsannotation type="cmsannotation" annotationid="Limited long-term contracts, prone to supply chain risk" comment="subhead" text="Limited long-term contracts, prone to supply chain risk">Limited long-term contracts, prone to supply chain risk</cmsannotation> According to the ICICI Direct report dated March 12, Craftsman does not have any exclusive supply arrangements and purchases material on a spot order basis. This exposes the company to supply chain risks. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoins-path-to-5-trillion-plus-the-markets-20-most-shorted-spacs-right-now/articleshow/81501083.cms">Bitcoin's path to $5 trillion, plus the market's 20 most-shorted SPACs right now</a> <a href="https://www.businessinsider.in/business/startups/news/tata-tryst-with-e-grocery-starts-with-a-billion-dollar-acquisition-of-bigbasket-heres-why-it-could-be-a-sweet-deal-for-both/articleshow/81478849.cms">Tata’s tryst with e-grocery starts with a billion dollar acquisition of BigBasket – here’s why it could be a sweet deal for both</a>

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Gala Precision Engineering IPO fully subscribed within minutes on day one

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