Monolithisch India Limited IPO...
14 Jun, 2025
Ganga Bath Fittings IPO
One of the leading bathroom accessory manufacturers Ganga Bath Fittings is all set to launch its IPO for subscription opening from June 4 to June 6, 2025. The IPO will be listed on the NSE SME platform on June 11, 2025. The company is targeting to raise ₹32.65 crore with this IPO, which will include a fresh issue of 66.63 lakh equity shares and there is no OFS. The price band of the IPO is decided to be between ₹46 to ₹49 per share and the minimum lot size for retail investors is 3000 shares which requires ₹1,38,000 to ₹1,47,000 after the final allotment price. All the IPO proceeds are going to be utilised for business expansion, debt repayment and working capital needs.
Company Background
Ganga Bath Fittings was originally established as a partnership firm named Ganga Plast Industries by the Tilva family back in 2018. The main focus of Ganga Plast Industries was to manufacture and supply ABS showers, health faucets, taps and related bathroom accessories. But in 2020, it changed itself into a Limited Liability partnership (LLP) to improve its management efficiency. In 2024, that LLP was again converted into a public limited company as Ganga Plast Industries Limited and later was renamed Ganga Bath Fittings Limited. The company has also acquired the businesses of Gnaga Industries and Ganga Bathing Solution to expand its operational and product base.
Revenue Channels
Ganga Bath Fittings operates through three primary revenue streams:
- Own Brand Sales: By manufacturing and selling products under proprietary brands such as Ganga, Glimpse, Stepian and Tora.
- Contract Manufacturing (OEM): The company also produces bathroom fittings and accessories for third-party brands.
- Traded Goods: Procuring and branding sanitary ware and accessories under the Ganga brand for resale.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Ganga Bath Fittings IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Ganga Bath Fittings IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 4, 2025 to June 6, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹46 to ₹49 per share |
| Lot Size | 3,000 Shares |
| Total Issue Size | 66,63,000 shares (aggregating up to ₹32.65 Cr) |
| Fresh Issue | 66,63,000 shares (aggregating up to ₹32.65 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,55,44,848 shares |
| Share Holding Post Issue | 2,22,07,848 shares |
| Market Maker Portion | 3,36,000 shares |
Ganga Bath Fittings IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Wed, Jun 4, 2025 |
| IPO Close Date | Fri, Jun 6, 2025 |
| Tentative Allotment | Mon, Jun 9, 2025 |
| Initiation of Refunds | Tue, Jun 10, 2025 |
| Credit of Shares to Demat | Tue, Jun 10, 2025 |
| Tentative Listing Date | Wed, Jun 11, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 6, 2025 |
Ganga Bath Fittings IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,47,000 |
| Retail (Max) | 1 | 3000 | ₹1,47,000 |
| HNI (Min) | 2 | 6,000 | ₹2,94,000 |
Ganga Bath Fittings IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 98.81% | 69.16% |
Competitive Strength:
- ● Diversified Product Portfolio
- ● Strong Brand Presence
- ● Expansive Distribution Network
- ● Technologically Advanced Manufacturing
- ● Consistent Financial Performance
Ganga Bath Fittings IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2024 | 43.67 | 32.31 | 4.53 | 22.12 | 10.73 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 33.74 | 32.01 | 2 | 11.05 | 13.7 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 32.03 | 30.68 | 0.31 | 9.51 | 12.29 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 29.87 | 22.34 | 0.21 | 7.36 | 13.43 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 15.07% |
| ROCE | 29.80% |
| Debt/Equity | 0.87 |
| RoNW | 15.07% |
| PAT Margin | 9.96 |
| Price to Book Value | 2.95 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.59 | 2.72 |
| P/E (x) | 30.74 | 18.03 |
IPO Objectives
The primary objectives of the Ganga Bath Fittings IPO are:
- Expansion of Production Capacity: Approximately ₹20.13 crore will be allocated for purchasing new machinery and equipment.
- Debt Repayment: ₹5.32 crore will be used for repayment or prepayment of existing borrowings.
- Working Capital Requirements: ₹2.70 crore will be directed toward meeting working capital needs.
- General Corporate Purposes: The remaining funds will be used for general business expansion and operational requirements.
Conclusion
Ganga Bath Fittings Limited is one of the dynamic and innovative player in the Indian bathroom accessories manufacturing market that focus strongly on quality and innovations along with customer satisfaction. This IPO allows investors to be a part of India’s bath accessories industry's growth with the company’s strong distribution network, diverse product portfolio and a clear strategy for expansion and operational efficiency. The funds raised from the IPO will surely strengthen the company’s market position and help in its long-term objectives.
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Frequently asked Questions (FAQs )
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What is the issue size and price range for the Ganga Bath Fittings IPO?
Through the issuance of 66.63 lakh equity shares, the IPO seeks to raise 32.65 crore. Each share is priced between ₹46 and ₹49.
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What is the minimum lot size for individual investors?
Retail investors must bid for a minimum of 3,000 shares, which translates to an investment of ₹1,38,000 to ₹1,47,000 depending on the final allotment price.
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When does the IPO open and close for subscription?
The IPO is open from June 4 to June 6, 2025.
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What is the listing date and exchange?
The shares are expected to be listed on the NSE SME platform on June 11, 2025.
-
How will the IPO proceeds be utilized?
General business expenses, debt payments (₹5.32 crore), working capital (₹2.70 crore), and the acquisition of new gear (₹20.13 crore) will all be covered by the funds raised.
