Gala Precision Engineering Limited has submitted the Monitoring Agency Report for the quarter ended December 31, 2025, concerning the utilization of proceeds from its Initial Public Offer (IPO). The report, issued by Crisil Ratings Limited, confirms that the utilization of IPO proceeds is in line with the disclosures made in the Offer Document. During the quarter, the company utilized proceeds primarily towards setting up a new manufacturing facility at Vallam-Vadagal, SIPCOT, Sriperumbuddur, Tamil Nadu, and for funding capital expenditure requirements for new plant and machinery at Wada, Palghar, Maharashtra. A significant portion of the funds remains unutilized, with Rs 422.23 million deployed in fixed deposits across HDFC Bank and YES Bank, and Rs 2.48 million remaining in the monitoring account. The total gross proceeds from the IPO were ₹135.34 crore (1,353.40 million). After deducting offer expenses of ₹14.10 crore (141.05 million), the net proceeds amounted to ₹121.23 crore (1,212.35 million). The company has fully utilized proceeds for the repayment of certain borrowings and for issue-related expenses as per the disclosures in the Offer Document. There were no material deviations from the objects disclosed in the Offer Document, and all necessary government and statutory approvals related to the objects have been obtained.
