The offering consists of up to 66.63 lakh equity shares with a face value of Rs 10 each. The price band has been fixed at Rs 46 to Rs 49 per share. Investors can bid for a minimum lot size of 3,000 shares.
The issue comprises a reservation of up to 69,000 shares for qualified institutional buyers (QIBs), at least 31.29 lakh shares each for non-institutional investors (NIIs) and retail investors, and 3.36 lakh shares earmarked for the market maker.
The proceeds from the IPO will be used for capital expenditure to purchase new machinery and equipment, repayment of certain borrowings, working capital needs, and general corporate purposes. Jawa Capital Services Private Limited is the book-running lead manager to the issue, while KFIN Technologies Limited is the registrar.
Commenting on the IPO launch, Jimmy Tusharkumar Tilva, Managing Director of Ganga Bath Fittings, said, “This offering is a milestone in our journey from a local manufacturer to a recognized name in India’s sanitaryware industry. We’re now ready to invest further in automation, expand production capabilities, and enhance our market reach.”
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The company serves customers through its own brands—Ganga, Glimpse, Stepian, and Tora—as well as through OEM manufacturing and sanitaryware trading. Its product portfolio includes CP taps, showers, ABS and PTMT faucets, bath accessories, vanities, sinks, and drainage solutions.Anoop Kumar Gupta, Director at Jawa Capital Services, noted, “Ganga Bath Fittings is well-positioned to benefit from the ongoing growth in India’s urban housing and lifestyle upgrade trends. The IPO will help the company fund its expansion and improve operational efficiency.”In FY24, Ganga Bath Fittings reported revenue of Rs 31.89 crore, EBITDA of Rs 4.95 crore, and net profit of Rs 2.47 crore. For the nine months ending December 2024, the company clocked revenue of Rs 32.29 crore, EBITDA of Rs 7.28 crore, and net profit of Rs 4.52 crore.
