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News18
a day ago
- Business
- News18
Ganga Bath Fittings IPO Day 2: Check Subscription Status, GMP Today
Last Updated: 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.
Time of India
2 days ago
- Business
- Time of India
Neptune Petrochemicals IPO listing on June 4. Check GMP and other details
Neptune Petrochemicals, a manufacturer of bitumen-based products, is set to debut on the NSE SME platform on Wednesday. Despite receiving a decent response during the IPO subscription window from May 28 to May 30, the stock appears poised for a flat listing, with the grey market premium (GMP) showing no gains over the issue price. According to the latest grey market data, Neptune Petrochemicals' IPO was commanding a GMP of Rs 0. With a fixed issue price of Rs 122 per share, the estimated listing price stands unchanged at Rs 122, suggesting no immediate listing gains for investors. While the GMP can be volatile and is an unofficial indicator, it does reflect the short-term sentiment in the unlisted market. All eyes are now on listing to see whether Neptune Petrochemicals will manage to impress investors post-listing, or if the lacklustre GMP prediction will hold true. The IPO, sized at Rs 73.20 crore, was a fresh issue of 60 lakh equity shares. It saw healthy interest with an overall subscription of 4.11 times. Qualified institutional buyers (QIBs) led the response, subscribing 7.12 times, while the non-institutional investor (NII) portion was subscribed 2.91 times. However, retail investors were more cautious despite a one-lot investment size of Rs 2.44 lakh. Neptune Petrochemicals manufactures and markets various types of bitumen products, including polymer-modified and crumb rubber-modified bitumen. These products are widely used in infrastructure development, especially road construction. The company also trades fuel oils and exports to neighbouring countries like Nepal and Bhutan. It operates three manufacturing units located in Ahmedabad, Panipat, and Kamrup, catering to both domestic and overseas markets. The IPO proceeds are planned to be used for capital expenditure to install new machinery, purchase office space, meet working capital needs, and general corporate purposes. MUFG Intime India (Link Intime) is acting as the registrar to the issue, while Beeline Capital Advisors is the lead manager. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
2 days ago
- Business
- Time of India
NR Vandana Textile shares to list today. Here's what GMP indicates
NR Vandana Textile is all set to make its stock market debut on the NSE SME platform today. The company's Rs 9.49 crore IPO, which was open for subscription from May 28 to May 30, has attracted healthy investor attention. With the issue price fixed at Rs 45 per share, the grey market sentiment suggests a strong start on listing day. As per market sources, the last recorded grey market premium (GMP) for NR Vandana Textile stood at Rs 9. This places the estimated listing price at around Rs 54 per share, reflecting a likely gain of 20% over the issue price. Although the GMP is not an official indicator, it provides a sense of investor sentiment ahead of listing and indicates the potential upside based on informal market demand. The IPO, which was entirely a fresh issue of 61.98 lakh equity shares, aimed to raise capital to fund working capital requirements and for general corporate purposes. Marwadi Chandarana Intermediaries served as the lead manager, and Cameo Corporate Services was the registrar for the offering. The issue received an overwhelming response, with an overall subscription of 101 times. The qualified institutional buyer (QIB) portion was subscribed 36.54 times, the non-institutional investor (NII or HNI) portion witnessed a robust 126.70 times demand, while the retail portion also saw heavy bidding. Live Events Founded in 1992, N R Vandana Tex Industries Limited is a Kolkata-based textile company engaged in the design, production, and wholesale distribution of cotton-based products such as sarees, salwar suits, and bed sheets. These products are sold under the in-house brands Vandana and Tanya. The company follows a business-to-business (B2B) model, supplying its goods to over 1,000 wholesalers across 31 states in India. It also uses a B2B e-commerce platform to extend its market presence. While some manufacturing is done in-house, a portion is outsourced to job workers, with the company providing clear technical guidelines including designs, fabric types, and quality specifications. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
2 days ago
- Business
- Economic Times
NR Vandana Textile shares to list today. Here's what GMP indicates
As per market sources, the last recorded grey market premium (GMP) for NR Vandana Textile stood at Rs 9. This places the estimated listing price at around Rs 54 per share, reflecting a likely gain of 20% over the issue price. Synopsis NR Vandana Textile is set to debut on the NSE SME platform today after a successful Rs 9.49 crore IPO that was oversubscribed 101 times. The IPO price was fixed at Rs 45 per share, with grey market premiums suggesting a listing price of around Rs 54, potentially offering investors a 20% gain. NR Vandana Textile is all set to make its stock market debut on the NSE SME platform today. The company's Rs 9.49 crore IPO, which was open for subscription from May 28 to May 30, has attracted healthy investor attention. With the issue price fixed at Rs 45 per share, the grey market sentiment suggests a strong start on listing day. ADVERTISEMENT As per market sources, the last recorded grey market premium (GMP) for NR Vandana Textile stood at Rs 9. This places the estimated listing price at around Rs 54 per share, reflecting a likely gain of 20% over the issue price. Although the GMP is not an official indicator, it provides a sense of investor sentiment ahead of listing and indicates the potential upside based on informal market demand. The IPO, which was entirely a fresh issue of 61.98 lakh equity shares, aimed to raise capital to fund working capital requirements and for general corporate purposes. Marwadi Chandarana Intermediaries served as the lead manager, and Cameo Corporate Services was the registrar for the issue received an overwhelming response, with an overall subscription of 101 times. The qualified institutional buyer (QIB) portion was subscribed 36.54 times, the non-institutional investor (NII or HNI) portion witnessed a robust 126.70 times demand, while the retail portion also saw heavy in 1992, N R Vandana Tex Industries Limited is a Kolkata-based textile company engaged in the design, production, and wholesale distribution of cotton-based products such as sarees, salwar suits, and bed sheets. These products are sold under the in-house brands Vandana and Tanya. ADVERTISEMENT The company follows a business-to-business (B2B) model, supplying its goods to over 1,000 wholesalers across 31 states in India. It also uses a B2B e-commerce platform to extend its market presence. While some manufacturing is done in-house, a portion is outsourced to job workers, with the company providing clear technical guidelines including designs, fabric types, and quality specifications. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
2 days ago
- Business
- Time of India
Ganga Bath Fittings IPO opens today: Check GMP, price band and other details
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. Ganga Bath Fittings launched its IPO on June 4, aiming to raise Rs 32.65 crore through a fresh issue of shares, with listing planned on NSE SME. The company, known for its bathroom accessories under brands like Ganga and Glimpse, will use IPO proceeds for expansion and debt repayment. Tired of too many ads? Remove Ads About the company Tired of too many ads? Remove Ads Financial performance IPO proceeds and utilisation 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 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 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 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 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 company intends to use the IPO proceeds for purchasing new equipment and machinery, repaying certain borrowings, meeting working capital requirements, and for general corporate 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)
