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Business Standard
11-06-2025
- Business
- Business Standard
NSE SME Ganga Bath Fittings opens hot, cools off quickly
Shares of Ganga Bath Fittings were trading at Rs 56.05 on the NSE, a premium of 14.39% compared with the issue price of Rs 49. The scrip was listed at Rs 59, a premium of 20.41% compared with the initial public offer (IPO) price. The stock was currently frozen at its lower limit of 5% over its listing price. The counter hit a high of Rs 59 and a low of Rs 56.05. About 15.36 lakh shares of the company changed hands at the counter. Ganga Bath Fittings' IPO was subscribed 1.61 times. The issue opened for bidding on 4 June 2025 and it closed on 6 June 2025. The price band of the IPO was set at Rs 46- 49 per share. The IPO comprised of a fresh issue of 66,63,000 equity shares. The promoter and promoter group shareholding diluted to 69.16% from 98.81% pre-issue. The company intends to utilize the net proceeds to meet capital expenditure towards purchase of equipments/machineries, repayment/prepayment of certain borrowings, working capital and general corporate purposes. Ganga Bath Fittings is a manufacturing company specializing in a wide range of bathroom accessories and fittings. The company is engaged in the production and supply of high-quality products including, but not limited to, CP taps and components, showers, sanitary ware, ABS showers, ABS health faucets, ABS taps and accessories, PTMT taps, door handles, bathroom vanities, sinks, stainless steel (SS) showers, shower drains, and SS channel drainers. With a diverse product portfolio, the company caters to both residential and commercial bathroom fitting needs, ensuring functionality, durability, and modern design. It sells its products under its brand name such as Ganga, Glimpse, Stepian, and Tora. The company has 123 employees. The company recorded revenue from operations of Rs 22.45 crore and net profit of Rs 3.60 crore for the period ended 31 December 2024.
Time of India
04-06-2025
- 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)
