Gallard Steel IPO Allotment Status OUT Now: Oversubscribed 375x; listing On Nov 26; How to Check Allotment

Gallard Steel's SME IPO drew blockbuster demand and was massively oversubscribed, with overall subscription at 375.54 times by the close of bidding. The allotment was finalised on November 24,, and the company is slated to list on the BSE SME platform on November 26.

The Gallard Steel IPO saw intense investor interest across categories: individual investors subscribed 351.58x, QIB (ex-anchor) 228.48x, and NII a whopping 624.56x as of Day 3. Such heavy oversubscription is one of the firsts for SME listings this calendar season.

GMP, estimated listing price and expected listing pop

Grey Market Premium (GMP) for Gallard Steel was reported at Rs. 70 as of Nov 25 at 10:53 AM. With a price band of Rs. 150, the street's estimated listing price stands near Rs. 220, adding both price band cap and the GMP, implying an expected listing gain of around 46.67% if GMP holds at that level.

Issue details: size, price band, lot and timeline

Gallard Steel's SME IPO is a fresh issue of Rs. 37.50 crore, consisting of 2,500,000 equity shares with a face value of Rs. 10. The price band was fixed at Rs. 142-150 , and the market lot is 1,000 shares. Retail investors needed to apply for at least 2 lots which means 2,000 shares equating to roughly Rs. 3,00,000 at the cap. Bidding ran from Nov 19-21, 2025; the allotment was finalised on Nov 24, with listing scheduled for Nov 26.

How to check your Gallard Steel IPO allotment status: step-by-step

Step 1: Visit the registrar Ankit Consultancy Pvt. Ltd. (Ankitonline) IPO allotment page or the BSE allotment portal.

Step 2: Select Gallard Steel from the company list.

Step 3: Enter PAN number, Application Number, or DP Client ID (any one).

Step 4: Click Search - the allotment status (allotted/refunded) will be displayed.

Syep 5: On allotment, shares will be credited to your Demat account and refunds (if any) processed to your bank.