Ganesh Consumer Goods IPO GMP: At the higher price band, investors must deposit Rs 14,812 and may bid for a minimum of 46 shares, with subsequent multiples.
September 22 marked the opening of Ganesh Consumer Products’ IPO to the public. On Day 1, the Rs 409-crore IPO has received 3% of the total subscriptions.
According to statistics on the NSE at 10.50 am, bids for the Kolkata-based FMCG company’s first public offering totaled around 2.77 lakh shares, compared to the offer size of over 89 lakh shares. Non Institutional Investors (NII) subscribed for 1% of the amount held for them, while retail investors reserved 5% of their allocation. For the IPO, Qualified Institutional Buyers (QIB) have not yet placed a sizable offer.
IPO GMP for Ganesh Consumer Products:
According to statistics on Investorgain, the company’s unlisted shares were trading at a grey market premium (GMP) of around 3% above the IPO price prior to listing. The site’s reported GMP has decreased from the 8% mentioned the previous week.
The company’s unlisted shares were trading with a GMP of around 6%, according to IPO Watch.
Important details about the IPO of Ganesh Consumer Products:
With a new issuance of shares worth Rs 130 crore and an offer for sale (OFS) of shares worth Rs 278.8 crore by the current promoters at a price range of Rs 306-322 per share, the Kolkata-based FMCG business went to the capital markets to raise Rs 408.80 crore.
At the higher price range, investors may bid for a minimum of 46 shares, and they would then need to deposit Rs 14,812 in multiples. The shares are expected to go public on stock markets on September 29 after the allocations are probably completed by September 25.
The merchant bankers overseeing the Ganesh Consumer Products IPO are Motilal Oswal Investment Advisors, IIFL Capital Services, and DAM Capital Advisors.
What is the intended use of IPO proceeds?
The firm, which manufactures packaged instant food mixes, spices, and ethnic snacks in addition to consumer essentials like wheat flour, maida, sooji, and dalia, intends to use Rs 60 crore of the proceeds from the new issuance to pay back some of its debts.
The establishment of a roasted gram flour and gram flour production facility in Darjeeling, West Bengal, would also cost Rs 45 crore. The remaining sum will be utilized for general business objectives.
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According to HDFC Securities, Ganesh Consumer Products Limited (GCPL) is the third-largest brand in terms of value for packaged whole wheat flour (atta) in fiscal year 2025. In East India, it has the most market share for wheat-based derivatives such dalia, sooji, and maida. GCPL has a market share of around 43.4% in sattu and 4.9% in besan in East India, making it one of the top two companies in packaged gram-based flour products. For wheat-based goods, like as wheat flour, maida, sooji, and dalia, the company has a roughly 40.5% value share in West Bengal alone, the brokerage said.
Nonetheless, it made clear that the main issues include debt, any halt or slowdown in production, underutilization of current or potential industrial facilities, and more.
Anchor Book for Ganesh Consumer Products’ IPO:
Ganesh Consumer Products said that it has sold shares for Rs 122.3 crore via its anchor book on September 19 prior to the IPO opening for public bidding. The company stated in its exchange filing that it has completed the distribution of approximately 38 lakh shares at the upper price range to 13 anchor investors, including PGIM India, LC Pharos Multi Strategy Fund, Saint Capital Fund, Citigroup Global Markets, BNP Paribas Financial Markets, Subhkam Ventures, and Bengal Finance.
Largest anchor book investors Subhkam Ventures, Bengal Finance, and Samsung India each contributed Rs 18.98 crore for 5.89 lakh shares, while top investor Madhusudan Kela-backed Singularity Equity Fund, Sanshi Fund, PGIM India, and LC Pharos Multi Strategy Fund each purchased 2.74 lakh shares for Rs 8.84 crore.