PNN
Mumbai (Maharashtra) [India], June 4: Ganga Bath Fittings Limited (The Company, Ganga) is manufacturer of a wide range of bathroom accessories, proposes to open its Initial Public Offering on Wednesday, June 04, 2025, aiming to raise Rs 32.65 Crore (At Upper Price Band), with shares to be listed on the NSE Emerge platform.
The issue size is 66,63,000 equity shares at a face value of Rs 10 each with a price band of Rs 46 – Rs 49 Per Share.
Equity Share Allocation
– Qualified Institutional Buyer – Not more than 69,000 Equity Shares
– Non-Institutional Investors -Not less than 31,29,000 Equity Shares
– Retail Individual Investors – Not less than 31,29,000 Equity Shares
– Market Maker – 3,36,000 Equity Shares
The net proceeds from the IPO will be utilized for capital expenditure towards the purchase of equipment/machinery, repayment/prepayment of certain borrowings availed by the Company, funding working capital requirements and for general corporate purposes. The issue is closing on June 06, 2025.
The Book Running Lead Manager to the Issue is Jawa Capital Services Private Limited, The Registrar to the Issue is KFIN Technologies Limited.
Jimmy Tusharkumar Tilva, Managing Director of Ganga Bath Fittings Limited, expressed, “We are delighted to announce the launch of our Initial Public Offering–a significant milestone that reflects the evolution of the company from a homegrown manufacturer to one of the prominent players in the Indian sanitaryware industry. Over the years, we have built a diverse and quality-driven product portfolio, serving customers through our in-house brands, OEM partnerships, and trading operations.
This IPO will fuel our vision for the future enabling us to invest in modern machinery, improve our manufacturing scale, and strengthen our financial foundation. We see this as a stepping stone to greater innovation and deeper market penetration. This marks the beginning of an exciting new chapter as we strive to scale new heights.”
Anoop Kumar Gupta, Director of Jawa Capital Services Private Limited said, “We are pleased to be associated with Ganga Bath Fittings Limited as the lead manager for their Initial Public Offering. The company operates with a clear focus on product quality, operational efficiency, and market development. The bathroom fittings and sanitaryware industry in India has witnessed steady growth, driven by rising urbanization, housing development, and improved lifestyle standards. The IPO is structured to support the company’s capital expenditure, working capital requirements, and debt reduction. We believe the company is positioned to benefit from industry trends and future expansion plans.”
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