Gulf Lloyds IPO

The Gulf Lloyds SME IPO runs from 20 Jul 2026 to 22 Jul 2026, offered at an issue price of ₹100 per share, and is set to list on BSE. The company is looking to raise ₹18.19 crore through the offer. Retail investors bid in lots of 1200 shares, a minimum application of ₹2,40,000.

Issue structure

The IPO is structured entirely as a fresh issue of ₹17.28 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward working capital requirement (₹7.15 crore), alongside capital expenditure for office premises (₹4.01 crore). In all, 4 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Gulf Lloyds reported revenue of ₹35.97 crore and a net profit of ₹4.3 crore. Net worth stood at ₹13.48 crore at the end of FY2026. At the upper band, that puts the issue at roughly 11.4× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 15.64× post-issue earnings and 3.64× book value, against a return on net worth of 31.92% and a debt-to-equity ratio of 1.15. These ratios come from the offer document and are for comparison, not a recommendation.

Promoters

The promoters of the company are <p>Jaykumar Bhavsar, Bhagirath Bhavsar, Anitaben Bhavsar, Shivaniben Bhavsar</p>. Promoter holding stands at 99.94% before the issue and comes down to 72.92% after listing.

Grey market premium (GMP)

In the unofficial grey market, Gulf Lloyds shares are quoted at a premium of ₹1 implying an expected listing around ₹101, about +1.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Gulf Lloyds IPO was subscribed 10.85 times overall. The strongest demand came from retail investors at 18.83 times, with non-institutional investors (NII) at 2.86×.

Listing performance

Gulf Lloyds listed on 27 Jul 2026 at ₹100, a premium of +0.0% over the issue price of ₹100.

What to weigh

When evaluating the Gulf Lloyds IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Gulf Lloyds

Gulf Lloyads (India) Limited is a service-based company engaged in delivering third-party inspection, auditing, certification, testing, and training solutions to clients across multiple industries. The company serves both public sector enterprises and private organizations by helping them meet quality, safety, and regulatory standards. Its core services involve evaluating products, industrial processes, projects, and operational systems to ensure compliance with technical specifications, industry regulations, and customer requirements. Through these services, the company enables businesses to improve operational efficiency, strengthen quality control, reduce costs, and maintain regulatory compliance. Headquartered in Ahmedabad, Gujarat, Gulf Lloyads has more than a decade of industry experience. Over the years, it has successfully completed assignments across India as well as in international markets such as the United States, the United Arab Emirates, China, Germany, and several other countries. The company offers cost-effective and customer-oriented inspection and certification solutions tailored to the requirements of diverse industries. Its client portfolio includes organizations such as Vee Kay Vikram &amp; Co. LLP, Aakash Exploration Services Ltd., Pacific Steel and Alloys, Alexia Panels, APSS Technologies Pvt. Ltd., Euro Panel Products Ltd., RPF Pipes, IOAGPL, Hindusthan Technologies Pvt. Ltd., Nabros Transport Pvt. Ltd., Corrtech International Ltd., John Energy Ltd., Chicago Pneumatic Compressors, Haryana City Gas, CZAR Metric System Pvt. Ltd., TLT Engineering India Pvt. Ltd., Parixit Irrigation Ltd., Rajendra Piping &amp; Fittings, Swati Switchgears Pvt. Ltd., Tatsuno India Pvt. Ltd., Gilbarco Veeder-Root, Ratnamani Metals &amp; Tubes Ltd., Rungta Irrigation Ltd., and Therm Transfer Equipment Pvt. Ltd. As of May 31, 2026, the company had a workforce of 715 employees, comprising permanent staff, contract personnel, and consultants. These professionals are deployed across key functions including management, engineering, project execution, finance, human resources, auditing, marketing, and operations. Competitive Strengths Comprehensive service portfolio covering inspection, verification, auditing, testing, training, and certification. Strong order pipeline supported by a diversified customer base across multiple sectors. Accredited operations that enhance credibility and service reliability. Experienced team of qualified technical professionals with extensive industry expertise. Continuous investment in employee training and capability development. Robust quality assurance systems with a strong focus on compliance and process excellence. Pan-India operational presence supported by regional offices, with the corporate headquarters located in Ahmedabad.