Ganga Bath Fittings IPO Day 2: Check Subscription Status, GMP Today
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Unlisted shares of Ganga Bath Fittings Ltd are currently trading at Rs 52.5 apiece in the grey market, which is a 7.14% premium or GMP over the upper IPO price of Rs 49.
Ganga Bath Fittings IPO Day 2: The initial public offering of Ganga Bath Fittings Ltd, which was opened for public subscription on Wednesday, June 4, has received a muted response so far. Till 10:14 am on the second day of bidding on Thursday, the Rs 32.65-crore NSE SME IPO received a 0.49 times subscription, garnering bids for 31,08,000 shares as against 63,27,000 shares on offer.
The retail and NII participation stood at 0.68 times and 0.26 times, respectively. The qualified institutional buyers (QIB) category has received a 2.22 times subscription so far.
Ganga Bath Fittings Ltd, which was incorporated in 2018, manufactures and supplies various bathroom accessories, including CP taps, showers, sanitary wear, ABS fittings, door handles, vanities, and sinks.
The three-day IPO will be closed on Friday, June 6. It received a 0.45 times subscription on the first day of bidding on Wednesday.
Ganga Bath Fittings IPO Price
The price has been fixed in the range of Rs 46 to Rs 49 apiece.
Ganga Bath Fittings IPO Lot Size
The minimum lot size for an application is 3,000. The minimum amount of investment required by retail investors is Rs 1,47,000. The bidding can be done in multiple of 3,000.
Ganga Bath Fittings IPO GMP Today
According to market observers, unlisted shares of Ganga Bath Fittings Ltd are currently trading at Rs 52.5 apiece in the grey market, which is a 7.14% premium or GMP over the uper IPO price of Rs 49. It indicates listing gains for investors on June 11, the tentative listing date.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
Shares of Ganga Bath Fittings Ltd are scheduled to be listed on the NSE's SME platform on June 11.
Ganga Bath Fittings IPO: More Details
The Ganga Bath Fittings IPO, which is a bookbuilding of Rs 32.65 crore, comprises a fresh issue of 66.63 lakh shares.
The proceeds will be utilised towards capital expenditure towards purchase of equipment/machine ries, etc; repayment/prepay ment of certain borrowings availed by the company; funding working capital requirements; and general corporate purpose.
Jawa Capital Services Private Limited is the book-running lead manager of the Ganga Bath Fittings IPO, while Kfin Technologies Limited is the registrar for the issue.
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