New Delhi: The Rs 33-crore IPO of Ganga Bath Fittings, manufacturer of bathroom accessories, opened for subscription on Wednesday.The IPO priced in the range of Rs 46-49 per equity share, will remain open until June 6, the company said in a statement.
Shares of the company will be listed on NSE Emerge and the investors can bid for a minimum of 3,000 shares and in multiples thereof, it added.The IPO is entirely a fresh issue of 66.63 lakh shares.Proceeds from the IPO will be utilised for capital expenditure, repayment of debt, funding working capital requirements and general corporate purposes.
"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.
In FY24, the company logged a revenue of Rs 31.89 crore and profit after tax (PAT) of Rs 2.48 crore.As of December last year, the firm posted a revenue of Rs 32.29 crore and PAT of Rs 4.53 crore.
Jawa Capital Services is the sole book running lead manager and KFin Technologies is the registrar to the issue.
Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.
