Description

Details of lock-in period and distinctive numbers for 9.5 million equity shares of Gallard Steel Limited following its initial public offering.

Summary

BSE has listed 9,500,000 equity shares of Gallard Steel Limited following its initial public offering. The circular provides detailed lock-in schedules for different categories of shares including promoter shares with varying lock-in periods (1-3 years) and anchor investor shares (30-90 days). All shares are in demat form.

Key Points

  • Total shares listed: 9,500,000 equity shares
  • All shares are in dematerialized (demat) form
  • Promoter shares subject to lock-in periods: 7,000,000 shares
  • Anchor investor shares: 709,000 shares with shorter lock-in periods
  • Free IPO shares: 1,791,000 shares
  • Distinctive numbers provided for presentation purposes only

Share Categories and Lock-in Details

Promoter Lock-in Shares:

  • 1-year lock-in (2,850,000 shares): Lock-in from 14.11.2025 to 30.11.2026
  • 2-year lock-in (2,230,000 shares): Lock-in from 14.11.2025 to 30.11.2027
  • 3-year lock-in (1,920,000 shares): Lock-in from 14.11.2025 to 30.11.2028

Anchor Investor Shares:

  • 30-day lock-in (354,000 shares): Lock-in from 25.11.2025 to 25.12.2025
  • 90-day lock-in (355,000 shares): Lock-in from 25.11.2025 to 23.02.2026

Free IPO Shares:

  • 1,791,000 shares available for trading without lock-in restrictions

Important Dates

  • Promoter lock-in start date: November 14, 2025
  • Anchor investor lock-in start date: November 25, 2025
  • Earliest anchor unlock date: December 25, 2025 (30-day lock-in)
  • Latest anchor unlock date: February 23, 2026 (90-day lock-in)
  • 1-year promoter unlock date: November 30, 2026
  • 2-year promoter unlock date: November 30, 2027
  • 3-year promoter unlock date: November 30, 2028

Compliance Requirements

  • Shares subject to lock-in cannot be traded until respective lock-in periods expire
  • All shares are mandatorily held in demat form
  • Exact distinctive numbers cannot be assigned as all shares are dematerialized

Impact Assessment

This is a standard IPO listing announcement with limited immediate market impact. The staggered lock-in release schedule means that:

  • Approximately 18.9% of shares (1,791,000) are immediately available for trading
  • Anchor investor shares will gradually become tradeable over the next 90 days
  • Promoter shares remain locked for 1-3 years, ensuring management commitment
  • The lock-in structure provides stability and prevents immediate dumping of shares by insiders

Impact Justification

Standard IPO listing circular with lock-in details for a new listing; important for shareholders but limited broader market impact