Ganga Bath Fittings IPO subscribed 1.43 times so far on day 3; here's how to check allotment

Ganga Bath Fittings IPO has been subscribed 1.43 times so far on the final day of bidding on Friday, June 6.

The initial public offering, with a price band of ₹46 to ₹49 per share, has secured bids for 95,04,000 shares compared to 66,63,000 shares on offer, according to the data on the NSE website at 2:27 pm.

The ₹32.65 crore initial share is a fresh offering of 66.63 lakh shares with no offer for sale component.

The net issue proceeds will be used for repayment of debt, funding working capital requirements, capital expenditure needs, and corporate general purposes.

The minimum application size is 3,000 equity shares and in multiples thereof.

"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," Ganga Bath Fittings' MD Jimmy Tusharkumar Tilva, said.

Ganga Bath Fittings IPO allotment status will be finalised on Tuesday, June 10, and the details will be available on the portals of NSE and KFin Technologies Ltd.

How to check Ganga Bath Fittings IPO allotment status on NSE

• Users can verify IPO bids on NSE at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select 'Equity & SME IPO bid details'
• Choose 'Ganga Bath Fittings' under the symbol ‘Gangabath’.
• Enter your PAN details and application number
• Click on submit

How to check Ganga Bath Fittings IPO allotment status on KFin Technologies

• Head of KFin Technologies' bid finalisation portal: https://ris.kfintech.com/ipostatus/
• From five links, pick one
• In the ‘Select IPO’ dropdown menu, select 'Ganga Bath Fittings'
• Identify yourself using IPO application number, PAN or Demat account number
• Complete the Captcha verification
• Click on the 'Submit' button

Ganga Bath Fittings is involved in making bathroom accessories like CP taps, showers, sanitary ware, bathroom vanities and sinks. It sells goods under its own brands, apart from being a contract manufacturer to OEMs.

The company's revenue from operations was ₹31.89 crore and profit after tax was ₹2.48 crore in the financial year 2023-24.

As of December last year, the firm recorded a revenue of ₹32.29 crore and a net profit of ₹4.53 crore.

Jawa Capital Services is the book-running lead manager of the issue, while KFin Technologies Ltd is the registrar.