neutral
Recently
Gallard Steel IPO Opens; Small-Cap Manufacturing Issue Gains Traction
Gallard Steel launches its IPO for manufacturing capex; early interest seen from retail and HNI segments.
Gallard Steel’s IPO opened this week with a modest issue size aimed at funding manufacturing expansion and working-capital needs. Initial grey-market checks and broker notes show steady interest from retail and HNI investors in the small-cap manufacturing segment.
The company plans to deploy proceeds to scale capacity for specialty steel products amid higher domestic engineering demand. Analysts caution that investor appetite will hinge on price-band finalisation and listed comparables in the mid-cap segment.