IPO: FMCG Firm Ganesh Consumer Products Fixes ₹322 Per Share Price Band To Raise ₹408 Crore
Headquartered in Kolkata, the company is the third-largest brand of packaged wheat flour and the largest in wheat-based derivatives such as maida, sooji and dalia in eastern India, according to a Technopak report.
Mr. Manish Mimani, CMD Ganesh Consumer Products Limited’s is addressing to the media at their IPO Price Band announcement in Mumbai on Wednesday. |
Kolkata: City-based FMCG firm Ganesh Consumer Products Ltd has fixed a price band of Rs 306-322 per share for its initial public offering (IPO) that aims to raise Rs 408 crore in combination of fresh issue and offer for sale from promoters.
The issue will open for subscription on September 22 and close on September 24, the company said on Wednesday.The IPO comprises a fresh issue worth Rs 130 crore and an offer for sale (OFS) of 8,658,333 equity shares. Anchor investor bidding will open on September 19.
Proceeds from the fresh issue will be utilised for prepayment or repayment of borrowings (Rs 60 crore), setting up a roasted gram flour and gram flour manufacturing unit in Darjeeling, West Bengal (Rs 45 crore), and general corporate purposes.Headquartered in Kolkata, the company is the third-largest brand of packaged wheat flour and the largest in wheat-based derivatives such as maida, sooji and dalia in eastern India, according to a Technopak report.
In FY25, Ganesh consumer products held a 40.5 per cent market share in West Bengal in wheat-based products by value. It also ranked among the top two players in packaged sattu and besan in eastern India, with a share of 43.4 per cent and 4.9 per cent, respectively.The company has an omni-channel presence through general trade, modern trade and e-commerce platforms.
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