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Ganga Bath Fittings IPO
₹1,38,000/3000 shares
Minimum Investment
IPO Details
04 Jun 25
06 Jun 25
₹1,38,000
3000
₹46 to ₹49
NSE
₹32.65 Cr
11 Jun 25
Ganga Bath Fittings IPO Timeline
Bidding Start
04 Jun 25
Bidding Ends
06 Jun 25
Allotment Finalisation
09 Jun 25
Refund Initiation
10 Jun 25
Demat Transfer
10 Jun 25
Listing
11 Jun 25
Ganga Bath Fittings Limited
Incorporated in 2018, Ganga Bath Fittings Limited manufactures and supplies a wide range of bathroom accessories under the brand name “GANGA,” including CP taps, showers, sanitary ware, PTMT taps, stainless steel showers, and ABS fittings. Its modern facility in Shapar-Veraval, Gujarat, is equipped to produce customized, high-quality components. The company caters to customers across India through a network of over 2,500 distributors. With 250+ SKUs and ISO 9001:2015 certification, it ensures timely delivery, quality service, and employs 155 staff and two Executive Directors.
Ganga Bath Fittings Limited IPO Overview
Ganga Bath Fittings IPO is a book-built issue worth ₹32.65 crores, comprising a fresh issue of 66.63 lakh equity shares. The IPO opens for subscription on June 4, 2025, and closes on June 6, 2025. The allotment is expected to be finalized on June 9, 2025, with a tentative listing on NSE SME scheduled for June 11, 2025. The price band is set at ₹46 to ₹49 per share. Retail investors must apply for a minimum of 3,000 shares, requiring an investment of ₹1,38,000.
However, bidding at the cutoff price, around ₹1,47,000, is advised due to possible oversubscription. High Net-worth Individuals (HNIs) need to apply for at least 2 lots (6,000 shares), amounting to ₹2,94,000. Jawa Capital Services Private Limited is the book-running lead manager, while Kfin Technologies Limited is the registrar to the issue.
Ganga Bath Fittings Limited IPO Details
| Particulars | Details |
| IPO Date | 4 June 2025 to 6 June 2025 |
| Listing Date | 11 June 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹46 to ₹49 per share |
| Lot Size | 3000 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) |
| Offer for Sale | NA |
| 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 Limited IPO Reservation
| Investor Category | Shares Offered |
| QIB | Not more than 50% of the Net Issue |
| Retail | Not less than 35% of the Net Issue |
| NII (HNI) | Not less than 15% of the Net Issue |
Ganga Bath Fittings Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 3,000 | ₹1,47,000 |
| Retail (Max) | 1 | 3,000 | ₹1,47,000 |
| HNI (Min) | 2 | 6,000 | ₹2,94,000 |
Ganga Bath Fittings Limited IPO Promoter Holding
| Shareholding Status | Percentage |
| Pre-Issue | 98.81% |
| Post-Issue | 69.16% |
Ganga Bath Fittings Limited IPO Valuation Overview
| KPI | Value |
| Earnings Per Share (EPS) | 34.94 |
| Price/Earnings (P/E) Ratio | TBD |
| Return on Net Worth (RoNW) | 15.07% |
| Net Asset Value (NAV) | 12.66 |
| Return on Equity | 15.07% |
| Return on Capital Employed (ROCE) | 29.80% |
| EBITDA Margin | 12.04% |
| PAT Margin | 4.38% |
| Debt to Equity Ratio | 0.87 |
Objectives of the Proceeds
- Capital expenditure towards purchase of equipment/machinery, etc.: ₹1993.32 lakhs
- Repayment/prepayment of certain borrowings availed by the company: ₹532.66 lakhs
- Funding working capital requirements
- General corporate purpose
Key Financials (in ₹ lakhs)
| Particulars | 30 June 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 3981.26 | 1041.16 | 861.40 | 701.72 |
| Revenue | 741.77 | 1357.87 | 1217.91 | 1066.85 |
| Profit After Tax | 140.74 | 59.44 | 9.23 | 0.75 |
| Reserves and Surplus | 414 | – | – | – |
| Total Borrowings | 954.85 | 737.14 | 515.51 | 427.40 |
SWOT Analysis of Ganga Bath Fittings IPO
Strength and Opportunities
- Experienced promoters and strong management team.
- Wide and diverse product portfolio.
- Long-term relationships with distributors and suppliers.
- Strong and skilled R&D team ensuring innovation.
- Expanding demand for quality bathroom fittings.
- Growing distributor network across India.
- Potential for product customization and innovation.
- Increasing market awareness of branded fittings.
Risks and Threats
- Limited operating history for investor evaluation.
- Reported negative cash flows in multiple activities.
- Dependency on working capital for operations.
- High reliance on effective cash flow management.
- Exposure to fluctuations in raw material prices.
- Intense competition from established brands.
- Regulatory risks related to quality standards and environmental compliance.
- Dependence on a limited number of suppliers for key raw materials.
Explore IPO Opportunities
Explore our comprehensive IPO pages to stay updated on the latest trends and insights.
About Ganga Bath Fittings Limited
Ganga Bath Fittings IPO Strengths
- Led by seasoned promoters with a capable and experienced leadership team.
- Offers a broad selection of innovative and functional bathroom products.
- Maintains reliable, long-term partnerships with distributors, clients, and suppliers.
- Backed by a skilled R&D team focused on product development and innovation.
- Adheres to rigorous quality benchmarks to ensure superior product performance.
Peer Group Comparison
| Name of the Company | Face Value (₹/Share) | EPS (₹) | P/E Ratio | RoNW (%) | Net Asset Value per Share (₹) |
| Ganga Bath Fittings Limited (formerly Ganga Plast Industries Limited)* | 10 | 34.94 | [●] | 54.32% | 12.66 |
| Peer Groups | |||||
| Hindware Home Innovation Limited | 2 | -4.98 | 75.64 | 41.33% | 12.05 |
| Cera Sanitaryware Limited | 5 | 183.89 | 36.88 | 17.81% | 1032.26 |
How to apply IPO with HDFC SKY?
Follow these simple steps to apply for an IPO through HDFC SKY. Secure your investments and explore new opportunities with ease by accessing the IPOs available on the platform.
1Login to your HDFC SKY Account
2Select Issue
3Enter Number of Lots and your Price.
4Enter UPI ID
5Complete Transaction on Your UPI App
FAQs On Ganga Bath Fittings Limited IPO
How can I apply for Ganga Bath Fittings Limited IPO?
You can apply via HDFCSky, or other brokers using UPI-based ASBA (Application Supported by Blocked Amount).
What is the IPO opening and closing date for Ganga Bath Fittings Limited?
The IPO opens on 4 June 2025 and closes on 6 June 2025.
What is the minimum investment required for retail investors in this IPO?
Retail investors need to invest ₹1,47,000 for 3,000 shares at the cutoff price.
On which platform will Ganga Bath Fittings IPO be listed?
The IPO will be listed on the NSE SME platform on 11 June 2025.
How many shares are being offered through this IPO?
A total of 66.63 lakh fresh equity shares are being offered through the issue.
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