Ganesh Consumer Products share price: Stock lists at 8% discount; here's how much investors lost

On the BSE, the stock started trading at ₹295, down 8.39% from the issue price.

Ganesh Consumer Products share price: Here's how much investors lost

The ₹408.80 crore IPO was a fresh issue of shares valued at ₹130 crore and an offer-for-sale component worth ₹278.80 crore by promoter and investor-selling shareholders.

Of the fresh issue proceeds, ₹60 crore will be used for repayment of outstanding borrowings, ₹45 crore for setting up a roasted gram flour and gram flour manufacturing facility in Darjeeling and for general corporate purposes.

The initial public offering got bids for 2,38,02,976 equity shares, which translates to 2.67 times subscription as compared to 89,12,228 shares on offer, according to the NSE data.

The part set aside for non-institutional investors (NIIs) got 4.34 times subscription, while the quota for qualified institutional buyers, or QIBs, got booked 4.18 times. The category for retail investors attracted 1.15 times subscription.

Prior to the IPO, the company collected ₹122.33 crore from 14 anchor investors, including Bengal Finance and Investment, Subhkam Ventures, Saint Capital Fund, Citigroup Global Markets Mauritius, BNP Paribas Financial Markets and Rajasthan Global Securities.

Ganesh Consumer Products, established in 1936, offers more than 40 products across staples, ethnic snacks, spices, and emerging food categories.