Gulf Lloyds India, a third‑party inspection and certification services provider based in Gujarat, launched its initial public offering (IPO) on July 20. The company offered 18.19 lakh equity shares at a fixed price of ₹100 each, aiming to raise ₹18.19 crore.
The issue was subscribed 4.6 times on the first day of bidding. Bids totaled 79.94 lakh shares against an offer of 17.28 lakh shares, received through 3,126 applications.
Retail investors showed strong demand, subscribing 8.1 times their allotted quota. The portion reserved for non‑retail investors was subscribed 1.14 times. The IPO remains open for subscription until July 22.
Proceeds will be used for capital expenditure and working capital. Rs 3.71 crore will fund office premises, Rs 7.15 crore will support working capital, and Rs 3 crore will repay an unsecured loan.
The company posted a consolidated profit of ₹4.3 crore and revenue of ₹35.7 crore for the year ended March 2026. It plans to list on the BSE SME platform on July 27.
Interactive Financial Services is the merchant banker handling the IPO. The company’s services span inspection, auditing, certification, testing, and training across multiple industries and regions.