Ganga Bath Fittings IPO opens today: Check GMP, price band and other details
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The initial public offering (IPO) of Ganga Bath Fittings opened for subscription on June 4 and will remain open till June 6. The SME issue aims to raise Rs 32.65 crore through a fresh issue of 66.63 lakh equity shares. The shares will be listed on the NSE SME platform, with a tentative listing date set for June 11.The IPO is being offered in a price band of Rs 46 to Rs 49 per share. The minimum lot size is 3,000 shares, translating into an investment of Rs 1.47 lakh for retail investors. Jawa Capital Services is the lead manager to the issue, while KFin Technologies is the registrar.Founded in 2018, Ganga Bath Fittings is engaged in the manufacturing and supply of a wide range of bathroom accessories. Its product portfolio includes CP taps, ABS showers, PTMT taps, sanitary ware, door handles, vanities, and sinks. The company markets products under in-house brands such as Ganga, Glimpse, Stepian, and Tora, and also engages in OEM production.The manufacturing facility is located in Shapar-Veraval, Gujarat, and the company has ISO 9001:2015 certification for quality management. Ganga Bath Fittings operates through a network of over 2,500 distributors and offers more than 400 SKUs across three major business verticals.The company has shown steady growth in revenue and profitability. For the nine months ending December 2024, it posted revenue of Rs 32.31 crore and a net profit of Rs 4.53 crore. In FY24, full-year profit stood at Rs 2.48 crore on revenue of Rs 32.01 crore.The company intends to use the IPO proceeds for purchasing new equipment and machinery, repaying certain borrowings, meeting working capital requirements, and for general corporate purposes.With strong brand recognition in the sanitaryware sector and a growing distribution network, the company hopes to capitalise on rising demand driven by urbanisation and real estate development. Investors will be closely watching the subscription trend over the next three days to assess sentiment for this SME issue.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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