Ganesh Consumer Products IPO Opens Monday: Key Details, Financials, Strengths and Risks

Kolkata, September 19, 2025: The public issue of Ganesh Consumer Products is all set to launch on September 22, 2025, and the issue will close on September 24, 2025. The issue is a combination of fresh issue of 0.40 crore shares aggregating to ₹130.00 crores and offer for sale of 0.87 crore shares aggregating to ₹278.80 crores. Ganesh Consumer Products IPO is priced in a band of ₹306–₹322 per share, with a ₹30 per share discount for eligible employees, bringing the total issue size to ₹1,300 million.

Incorporated in 2000, Ganesh Consumer Products Limited (formerly Ganesh Grains Limited) is a fast-growing FMCG company with seven manufacturing units across West Bengal, Uttar Pradesh, and Telangana. Its flagship brand, “Ganesh,” is widely recognized in East India, catering to both B2C and B2B segments.

Details of the Issue

The issue comprises a fresh issue of up to ₹130 crores along with an OFS and offer for sale of 0.87 crore shares aggregating to ₹278.80 crores. The price band is between ₹306-₹322 with a face value of ₹10 per share. Minimum bid is 46 shares. The issue also includes employee reservations of up to ₹10 million.

The IPO opens on September 22, 2025, and closes on September 24, 2025, with a mandate cut-off the same day by 5:00 PM. Listing is proposed on both NSE and BSE, with DAM Capital, IIFL Capital, and Motilal Oswal Investment Advisors as lead managers.

Financial Highlights

The company has showcased steady financial growth with revenue rising from ₹6,107.51 million in FY23 to ₹8,504.62 million in FY25, reflecting a 12% YoY growth in the latest fiscal. Profit After Tax (PAT) improved to ₹354.32 million in FY25, up from ₹269.92 million in FY24, indicating stronger profitability. Net worth strengthened to ₹2,241.33 million, while EPS grew to ₹9.74 in FY25, compared to ₹7.42 in FY24. Total borrowings came down sharply from ₹861.28 million in FY23 to ₹500 million in FY25, reflecting a healthier balance sheet and better financial discipline.

Usage of the Proceeds

The company aims to use the IPO funds in repayment of debt and borrowings (₹600 million). Around ₹450 million is allocated for capital expenditure to set up a new roasted gram flour and gram flour unit in Darjeeling, West Bengal. The balance amount is earmarked for general corporate purposes.

Strengths and Risks of the Issue

The company has a very strong market position as it is the third-largest brand in packaged wheat flour and a leader in wheat-based derivatives in East India. The company has a wide product portfolio, and the distribution network consists of over 7000 outlets. The revenue growth is steady (12% year on year) in the previous year, which also underlines strong profit figures.

However, risks remain, including heavy dependence on raw materials like wheat and gram, regional concentration with 71% of sales from West Bengal, and modest PAT margins of ~4%. Pending litigations, regulatory issues, and underutilised capacity further underline operational challenges.

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