Upcoming IPO: Ganga Bath Fittings IPO opens on June 4; price band set at ₹46-49 apiece. Check GMP

Upcoming IPO: Ganga Bath Fittings' initial public offer (IPO) will open for subscription on Wednesday, June 4, and close on Friday, June 6. Ganga Bath Fittings IPO price band has been fixed in the range of ₹46 to ₹49 per equity share of face value of ₹10 each. Bids can be made for a minimum of 3,000 equity shares and in multiples thereof.

Founded in 2018, Ganga Bath Fittings produces and supplies a variety of bathroom accessories, such as CP taps, showers, sanitary ware, ABS fittings, door handles, vanities, sinks, and more.

The manufacturing facilities are technologically equipped to develop and create products that align with the rigorous quality control standards of its customers. The company offers customised components according to customer specifications, ensuring both quality and prompt delivery.

Its advanced manufacturing facility is situated in Shapar-Veraval, Gujarat. Utilising state-of-the-art technology and a skilled workforce, the company guarantees product quality.

By December 2024, the company had 250 SKUs in its GI Unit, 32 SKUs in its GBS Unit, and 150 SKUs in its GPI segment. It maintains a network of over 2,500 distributors who have been associated with the company for a long time.

According to the red herring prospectus (RHP), the company's comparable listed entities are Hindware Home Innovation, which has a P/E of -75.64, and Cera Sanitaryware, boasting a P/E of 36.88. As of December 2024, the company recorded a revenue of ₹3,229.36 lakh, an EBITDA of ₹728.66 lakh, and a PAT of ₹452.74 lakh.

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 (OFS) component.

The funds raised from the IPO will be allocated for capital expenditures related to the acquisition of equipment and machinery, settling or repaying some of the company's borrowings, covering working capital needs, and for general corporate activities.

The book-running lead manager for the issue is Jawa Capital Services Private Limited, while KFIN Technologies Limited serves as the registrar.

Ganga Bath Fittings IPO GMP today or grey market premium was ₹0, meaning shares were trading at their issue price of ₹49 with no premium or discount in the grey market according to investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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