Ganga Bath Fittings IPO subscribed 82% so far on day 2; check price band, lot size and key details

Ganga Bath Fittings IPO: The ₹32.65-crore initial public offering of bathroom accessories manufacturer Ganga Bath Fittings has been subscribed 82% so far on the second day of bidding on Thursday, June 5.

The issue has received bids for 54,33,000 shares as against 66,63,000 shares on offer until 3:20 pm, according to NSE.

With a price band of ₹46 to ₹49 per share, the IPO will conclude on June 6, the company said in a statement.

The initial share sale is exclusively a fresh issuance of 66.63 lakh shares. Funds raised will be utilised for capital expenditure requirements, repayment of debt, funding working capital needs and general corporate purposes.

Ganga Bath Fittings IPO lot size

Investors can bid for at least 3,000 shares and in multiples thereof.

Ganga Bath Fittings IPO: Key dates

The basis of allotment will be finalised on June 9. Ganga Bath Fittings shares will debut on NSE Emerge on June 11.

"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 makes bathroom accessories like CP taps, sanitary ware, showers, bathroom vanities and sinks.

The company sells goods under its own brands as well as acts as a contract manufacturer to OEMs.

In FY24, the firm posted revenue from operations of ₹31.89 crore and a net profit of ₹2.48 crore.

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

The sole book running lead manager for the issue is Jawa Capital Services, while KFin Technologies is the registrar.