Ganga Bath Fittings IPO Opens Today: Price Band, Lot Size, and GMP Details Investors Should Know

The Initial Public Offering (IPO) of Ganga Bath Fittings Ltd. opened for subscription today and will remain available to investors until June 6. The Gujarat-based manufacturer of bathroom accessories and sanitaryware is aiming to raise Rs 32.65 crore through a fresh issue of 66.63 lakh equity shares. Notably, there is no offer-for-sale component in the issue, and all proceeds will go directly to the company.

Ganga Bath Fittings IPO: Price band and other details 

The IPO has been priced in the range of Rs 46 to Rs 49 per equity share. Investors must bid for a minimum of one lot, which comprises 3,000 shares, translating into a minimum investment of Rs 1,38,000 for retail participants. Ganga Bath Fittings’ shares will be listed on the NSE SME platform.  Important dates to note include June 9 for finalization of share allotments, followed by the listing on June 11.

Also Read: Ganga Bath Fittings IPO: Know Price Band, Lot Size, Key Dates And More | Republic World

Ganga Bath Fittings IPO: GMP 

As of today, the Grey Market Premium (GMP) for Ganga Bath Fittings’ shares is flat at ₹0, suggesting that the stock is trading at par with its upper issue price of Rs 49 in the unofficial market. This reflects a wait-and-watch sentiment among grey market participants.

Ganga Bath Fittings IPO: Usage of proceeds

The IPO proceeds are proposed to be utilized for multiple strategic purposes. Around Rs 20.13 crore will go towards the purchase of new machinery and equipment to expand production capacity. Another Rs 5.32 crore is earmarked for repayment or prepayment of existing borrowings, while Rs 2.70 crore will be directed toward meeting working capital requirements. The balance will be used for general corporate purposes.

Ganga Bath Fittings: Financial Performance

In terms of financial performance, Ganga Bath Fittings reported a revenue of Rs 32.31 crore and a net profit of Rs 4.53 crore for the nine months ended December 2024. In FY24, it posted a profit after tax of Rs 2.48 crore on a revenue of Rs 32.01 crore, indicating consistent operational growth.

About the company 

Founded in 2018, Ganga Bath Fittings manufactures a range of CP fittings, PTMT taps, ABS showers, sanitaryware, vanities, kitchen sinks, and door handles. The company sells its products under in-house brands such as Ganga, Glimpse, Stepian, and Tora, while also serving original equipment manufacturers (OEMs). Its manufacturing facility is located in Shapar-Veraval, Gujarat, . With a distribution network spanning over 2,500 dealers across India, the company is looking to scale up both operations and market reach.