Gulf Lloyds (India) IPO GMP today is Rs 1. Investors can use this GMP along with price band and subscription status for a better IPO review.
Closed
SME IPO
GULF
Gulf Lloyds (India)
Gulf Lloyds (India) Limited operates in the services sector, providing third-party inspection, verification, auditing, testing, training and certification services to public sector undertakings as well as private organisations across multiple industries. The company deploys trained and technically qualified personnel to carry out inspection, verification and audit assignments in accordance with client requirements and applicable standards. Its services support quality assurance, regulatory compliance and operational requirements across different sectors. The company generates revenue primarily from inspection and other related service assignments, with domestic operations contributing the majority of its income, while it also undertakes select international assignments. Gulf Lloyds follows a service-led business model focused on technical expertise and compliance with recognised inspection and certification standards. Its operations are supported by qualified professionals, established quality systems and inspection procedures designed to meet industry and regulatory requirements.
IPO Details
Complete IPO information
| Current GMP | ₹1 |
|---|---|
| Estimated Listing Gain | +1.00% |
| Price Band | ₹100.00 - ₹100.00 |
| Issue Price | ₹100.00 |
| Listing Price | TBA |
| Lot Size | 1,200 Shares |
| Issue Type | SME |
| Issue Size | Approx ₹18.19 Cr |
| Registrar | TBA |
| Exchange | NSE, BSE |
| Retail Quota | TBA |
| Overall Subscription | 10.85x |
| Listing Date | 27 Jul 2026 |
| Minimum Investment | ₹2,40,000 |
Timeline
IPO roadmap at a glance
01
Bidding Opens
20 Jul 2026
02
Bidding Closes
22 Jul 2026
03
Allotment
23 Jul 2026
04
Listing
27 Jul 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 23 Jul 2026 | ₹1.00 | -₹2.00 | 1.00% |
| 22 Jul 2026 | ₹3.00 | -₹12.00 | 3.00% |
| 21 Jul 2026 | ₹15.00 | -₹10.00 | 15.00% |
| 20 Jul 2026 | ₹25.00 | - | 25.00% |
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,400 | ₹2,40,000 |
| Retail Maximum | 2 Lot | 2,400 | ₹2,40,000 |
| S-HNI Minimum | 3 Lot | 3,600 | ₹3,60,000 |
| S-HNI Maximum | 8 Lot | 9,600 | ₹9,60,000 |
| B-HNI Minimum | 9 Lot | 10,800 | ₹10,80,000 |
Issue Notes
Important takeaways before applying
Strengths
- Offers a comprehensive range of inspection, auditing, testing, training and certification services.
- Has a large assignment pipeline and serves clients across multiple industry sectors.
- Operates with accredited and recognised quality and compliance processes.
- Supported by an experienced, technically qualified team for inspection and audit services.
- Focuses on continuous employee training and skill development to maintain service quality.
Risks
- Revenue depends on a limited number of customers, and losing key clients could impact the business.
- The company relies on a third-party NABL-accredited laboratory for certain testing services.
- Errors or deficiencies in inspection and testing reports could damage reputation and lead to liabilities.
- The business is subject to NABCB inspections and changing accreditation requirements that could affect operations.
- A significant share of revenue comes from Gujarat, making the business sensitive to adverse developments in the state.
Analysis
Gulf Lloyds IPO Details
Gulf Lloyds Limited is launching its Initial Public Offering (IPO) through the Fixed Price Issue route. The IPO consists entirely of a fresh issue of equity shares, enabling the company to raise funds for business expansion, operational requirements, and other corporate objectives outlined in the offer document.
The shares of Gulf Lloyds Limited are proposed to be listed on the BSE SME platform. Investors can subscribe to the IPO during the issue period at the fixed issue price as specified by the company.
| Particular | Details |
|---|---|
| Gulf Lloyds IPO Open Date | July 20, 2026 |
| Gulf Lloyds IPO Close Date | July 22, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price | ₹100 Per Share |
| Issue Size | Approx ₹18.19 Crores |
| Fresh Issue | Approx ₹18.19 Crores |
| Issue Type | Fixed Price Issue |
| IPO Listing | BSE SME |
Analysis
Gulf Lloyds IPO Reservation
Gulf Lloyds Limited has reserved the IPO shares between the Non-Institutional Investor (NII) category and the Retail Individual Investor (RII) category. As this is a Fixed Price Issue, the allocation has been structured to provide equal participation opportunities to both investor segments.
The following table shows the category-wise reservation of shares for the Gulf Lloyds IPO.
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| NII Shares Offered | 8,64,000 Shares | 50% |
| Retail Shares Offered | 8,64,000 Shares | 50% |
Analysis
Gulf Lloyds IPO Dates
The Gulf Lloyds IPO will open for subscription on July 20, 2026 and remain open until July 22, 2026. During this subscription window, eligible investors can apply for shares through the ASBA process or UPI-supported applications offered by registered brokers and banks.
The basis of allotment is expected to be finalized on July 23, 2026. Refunds for unsuccessful applicants and the credit of allotted shares to successful investors' demat accounts are scheduled for July 24, 2026. The equity shares of Gulf Lloyds Limited are proposed to be listed on the BSE SME platform on July 27, 2026.
| Event | Date |
|---|---|
| IPO Open Date | July 20, 2026 |
| IPO Close Date | July 22, 2026 |
| Basis of Allotment | July 23, 2026 |
| Refunds Initiation | July 24, 2026 |
| Credit to Demat Account | July 24, 2026 |
| IPO Listing Date | July 27, 2026 |
Analysis
Gulf Lloyds IPO Promoters and Holding Pattern
The promoters of Gulf Lloyds Limited are Bhagirath Bhavsar, Anitaben Bhavsar, Jaykumar Bhavsar, and Shivaniben Bhavsar. The promoter group has played a key role in establishing and expanding the company's business while continuing to guide its strategic growth and day-to-day operations.
Prior to the IPO, the promoters hold an overwhelming majority stake in the company. Following the fresh issue of equity shares, their ownership percentage will reduce due to equity dilution, although they will continue to retain a controlling stake in Gulf Lloyds Limited.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 49,10,000 | 99.94% |
| Promoter Holding Post Issue | 67,29,200 | 72.92% |
Note: The post-issue shareholding reflects the dilution resulting from the fresh issue of equity shares under the IPO. The promoter group is expected to remain the controlling shareholder after the listing.
Analysis
Gulf Lloyds IPO Objects of the Issue & Utilisation of Proceeds
Gulf Lloyds Limited intends to utilize the net proceeds from its IPO to strengthen its financial position and support future business growth. The company plans to invest in capital expenditure for new office premises, reduce debt by repaying unsecured loans, and enhance its working capital to support expanding business operations.
These proposed fund allocations are expected to improve operational efficiency, strengthen the company's balance sheet, and provide adequate liquidity for day-to-day business activities. Any remaining proceeds, if applicable, will be utilized for general corporate purposes.
| Purpose | Amount |
|---|---|
| Capital Expenditure for Office Premises | ₹4.01 Crores |
| Repayment of Unsecured Loans | ₹3.00 Crores |
| Working Capital Requirement | ₹7.15 Crores |
| General Corporate Purpose | – |
Note: The proposed utilization of IPO proceeds is based on the objectives disclosed in the offer document. The actual deployment of funds will be carried out in accordance with the company's business requirements and applicable regulatory guidelines.
Analysis
Gulf Lloyds - About IPO
Gulf Lloyds (India) Limited, founded in September 2014, is a leading Professional Services provider that offers innovative and bespoke Inspection, Verification, Assurance, Auditing, Testing, Training, and Certification solutions to individuals. Its services cater to a wide range of industries worldwide, from construction to agriculture to clothing.
Gulf Lloyds offers inspection, Verification, certification, auditing, training, and testing certificates to organizations involved in the marine, environment, energy, infrastructure, transport and logistics, quality and safety, and agri-food sectors to ensure excellence, quality, and safety compliance. Its headquarters is in Ahmedabad and has completed its projects in India and internationally, including the USA, UAE, China, Germany, and more. Its services help all types of businesses, helping them make their operations more productive and effective.
Analysis
Gulf Lloyds IPO Company Financial Report
Gulf Lloyds Limited has demonstrated steady financial growth over the last three financial years. The company has reported consistent growth in revenue, profitability, and total assets, reflecting improved operational performance and a strengthening financial position ahead of its proposed IPO.
The following financial summary highlights the company's reported revenue, expenses, profit after tax (PAT), and total assets for the recent financial years. These figures provide investors with an overview of Gulf Lloyds Limited's financial performance before the public issue.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹23.51 | ₹21.19 | ₹1.68 | ₹15.88 |
| 2025 | ₹35.88 | ₹29.61 | ₹4.67 | ₹23.51 |
| 2026 | ₹35.97 | ₹30.33 | ₹4.30 | ₹35.29 |
Amount in ₹ Crores: The above financial figures are based on the company's reported financial statements and are intended to provide investors with an overview of Gulf Lloyds Limited's financial performance before the IPO.
Analysis
Gulf Lloyds IPO Valuation – FY2026
Gulf Lloyds Limited has reported healthy profitability and operational performance for FY2026. Key valuation metrics such as Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Equity (ROE), Return on Net Worth (RoNW), Net Asset Value (NAV), and Debt-to-Equity Ratio help investors assess the company's financial strength and valuation ahead of the IPO.
The valuation details below are based on the latest available financial statements and can be used to compare Gulf Lloyds Limited with other listed companies operating in similar industries before making an investment decision.
| KPI | Values |
|---|---|
| ROE | 37.49% |
| ROCE | 24.88% |
| EBITDA Margin | 21.97% |
| PAT Margin | 12.06% |
| Debt to Equity Ratio | 1.15 |
| Earning Per Share (EPS) | ₹8.76 (Basic) |
| Price/Earning (P/E) Ratio | 11.42 |
| Return on Net Worth (RoNW) | 31.92% |
| Net Asset Value (NAV) | ₹27.46 |
Note: These valuation metrics are based on the FY2026 financial statements of Gulf Lloyds Limited. Investors should evaluate these figures along with the company's financial performance, growth prospects, industry outlook, and IPO pricing before making an investment decision.
Analysis
Peer Group Comparison
There is no company in the peer group.
Analysis
IPO Lead Managers aka Merchant Bankers
- Interactive Financial Services Ltd.
FAQ
Gulf Lloyds (India) IPO FAQs
Gulf Lloyds (India) IPO price band is Rs 100.00 to Rs 100.00. Check the latest issue price, lot size and GMP together before applying.
Gulf Lloyds (India) IPO open date is 20 Jul 2026, close date is 22 Jul 2026, and listing date is 27 Jul 2026.
Gulf Lloyds (India) IPO lot size is 1,200 shares. The minimum retail investment is Rs 2,40,000.
Gulf Lloyds (India) is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Gulf Lloyds (India) IPO subscription status currently shows Retail 18.83x, Overall 10.85x.
Gulf Lloyds (India) Limited operates in the services sector, providing third-party inspection, verification, auditing, testing, training and certification services to public sector undertakings as well as private organisations across multiple industries. The company deploys trained and technically qualified personnel to carry out inspection, verification and audit assignments in accordance with client requirements and applicable standards. Its services support quality assurance, regulatory compliance and operational requirements across different sectors. The company generates revenue primarily from inspection and other related service assignments, with domestic operations contributing the majority of its income, while it also undertakes select international assignments. Gulf Lloyds follows a service-led business model focused on technical expertise and compliance with recognised inspection and certification standards. Its operations are supported by qualified professionals, established quality systems and inspection procedures designed to meet industry and regulatory requirements.
Gulf Lloyds (India) IPO issue size is 18.19 and the expected allotment date is 23 Jul 2026.