6 days ago
Ganga Bath Fittings IPO opens for subscription
The Rs 33-crore
IPO
of
Ganga Bath Fittings
, manufacturer of bathroom accessories, opened for subscription on Wednesday.
The IPO priced in the range of Rs 46-49 per equity share, will remain open until June 6, the company said in a statement.
Shares of the company will be listed on NSE Emerge and the investors can bid for a minimum of 3,000 shares and in multiples thereof, it added.
The IPO is entirely a fresh issue of 66.63 lakh shares.
Proceeds from the IPO will be utilised for
capital expenditure
, repayment of debt, funding
working capital
requirements and general corporate purposes.
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"This IPO will fuel our vision for the future enabling us to invest in modern machinery, improve our manufacturing scale, and strengthen our financial foundation. We see this as a stepping stone to greater
innovation
and deeper market penetration," Ganga Bath Fittings' MD Jimmy Tusharkumar Tilva, said.
In FY24, the company logged a revenue of Rs 31.89 crore and profit after tax (PAT) of Rs 2.48 crore.
As of December last year, the firm posted a revenue of Rs 32.29 crore and PAT of Rs 4.53 crore.
Jawa
Capital
Services is the sole book running lead manager and
KFin Technologies
is the registrar to the issue.
