The subscription for the Ganga Bath Fittings IPO commenced on Wednesday, June 4 and will conclude on Friday, June 6. Ganga Bath Fittings IPO price band has been set between ₹46 to ₹49 per equity share with a face value of ₹10 each. Bids must be placed for a minimum of 3,000 equity shares and can be made in multiples of 3,000 equity shares thereafter.
Founded in 2018, Ganga Bath Fittings Limited produces and supplies a range of bathroom accessories, such as CP taps, showers, sanitary ware, ABS fittings, door handles, vanities, sinks, and more. The company’s production facilities are equipped with technology that allows for the development and manufacturing of products that adhere to strict quality control standards set by its customers. Customized components are manufactured according to customer specifications, guaranteeing both quality and timely delivery.
The company operates a cutting-edge manufacturing facility situated in Shapar-Veraval, Gujarat. It utilizes advanced technology and a skilled workforce to achieve product excellence. As of December 2024, the company offers 250 SKUs in its GI Unit, 32 SKUs in its GBS Unit, and 150 SKUs in its GPI segment.
As per red herring prospectus (RHP), the company’s listed peers are Hindware Home Innovation Ltd (with a P/E of -75.64), and Cera Sanitaryware Ltd (with a P/E of 36.88).
Ganga Bath Fittings IPO Subscription Status
Ganga Bath Fittings IPO subscription status is 64%, on day 2, so far. The retail portion was subscribed 97%, and NII portion was booked 28%, and Qualified Institutional Buyers (QIB) was subscribed 2.22 times.
The company has received bids for 40,47,000 shares against 63,27,000 shares on offer, at 12:19 IST, according to data on chittorgarh.com
Ganga Bath Fittings IPO subscription status was 45% on the first bidding day.
Ganga Bath Fittings IPO details
Ganga Bath Fittings IPO consists of a fresh issue of 66,63,000 equity shares, aggregating to ₹32.65 crore. There’s no offer for sale component.
The IPO for Ganga Bath Fittings aims to allocate the net proceeds from the offering for several purposes, including capital expenditures for the acquisition of equipment, debt repayment, financing working capital needs, and general corporate purposes.
Jawa Capital Services Private Limited serves as the book-running lead manager for the Ganga Bath Fittings IPO, whereas Kfin Technologies Limited acts as the issue’s registrar.
Ganga Bath Fittings IPO GMP today
Ganga Bath Fittings IPO GMP today is +3.5. This indicates Ganga Bath Fittings share price was trading at a premium of ₹3.5 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Ganga Bath Fittings share price is indicated at ₹52.5 apiece, which is 7.14% higher than the IPO price of ₹49.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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