Ganga Bath Fittings IPO is scheduled to open for subscription on June 4, 2025, and will remain open until June 6, 2025. The basis of allotment is expected to be finalized on June 9, 2025, with refunds and credit to investors’ demat accounts planned for June 10, 2025. The shares are set to be listed on the NSE SME platform on June 11, 2025, marking the official debut of the company’s stock in the market. Investors should keep these key dates in mind to stay updated on their investment status.
Ganga Bath Fittings IPO is a book-building issue aiming to raise around ₹32.65 crores through a fresh issue of approximately 66.63 lakh equity shares with a face value of ₹10 each. The IPO price band is fixed between ₹46 and ₹49 per share. The subscription quotas are divided as 35% for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net-worth Individuals (HNI). The minimum application size for retail investors is 3,000 shares, which translates to an investment of about ₹1,38,000 at the lower band and approximately ₹1,47,000 if bidding at the cutoff price. HNI investors must apply for a minimum of two lots (6,000 shares), amounting to nearly ₹2,94,000.
On the financial front, Ganga Bath Fittings reported revenue of ₹32.01 crores in 2024, showing growth from ₹30.68 crores in 2023. Profit also saw a significant rise, with ₹2.48 crores in 2024 compared to ₹0.31 crores the previous year. Considering the steady growth in both revenue and profitability, the IPO is positioned as a promising long-term investment opportunity.
Ganga Bath Fittings Limited was started in 2018. The company makes and sells many bathroom products like taps, showers, sanitary ware, door handles, sinks, and other accessories. Their factory is in Shapar-Veraval, Gujarat, where they use good technology and skilled workers to make sure the products are of high quality.
They also make custom products as per customer needs and deliver on time. The company has many products under the brand name “GANGA,” such as chrome-plated taps, plastic taps (PTMT), stainless steel showers, and ABS accessories. They have over 2,500 distributors across India. Ganga Bath Fittings follows strict quality rules and has ISO 9001:2015 certification. By December 2024, the company had 2 Executive Directors and 155 employees. The company is strong because of its experienced team, wide range of products, good relationships with customers and suppliers, and good quality control.
Overview of Contents
Ganga Bath Fittings IPO Overview
| Particulars | Details |
|---|---|
| Face Value | ₹10 per share |
| Price Band | ₹46 to ₹49 per share |
| Lot Size | 3,000 shares per lot |
| Total Issue Size | 66,63,000 shares (Approx ₹32.65 Cr) |
| Fresh Issue | 66,63,000 shares (Approx ₹32.65 Cr) |
| Issue Type | Book Building IPO |
| Listing Exchange | NSE SME |
| Pre-Issue Shareholding | 1,55,44,848 shares |
| Post-Issue Shareholding | 2,22,07,848 shares |
| Market Maker Portion | 3,36,000 shares |
| Retail Quota | Not more than 35% |
| QIB Quota | Not more than 50% |
| NII Quota | Not more than 15% |
Ganga Bath Fittings IPO Prospectus
| DRHP | Click here |
| RHP | Click here |
Ganga Bath Fittings IPO Dates
| Event | Date (Day) |
|---|---|
| IPO Open Date | June 4, 2025 (Wednesday) |
| IPO Close Date | June 6, 2025 (Friday) |
| Basis of Allotment | June 9, 2025 (Monday) |
| Refunds | June 10, 2025 (Tuesday) |
| Credit to Demat Account | June 10, 2025 (Tuesday) |
| IPO Listing Date | June 11, 2025 (Wednesday) |
Ganga Bath Fittings IPO Lot Size
Investors must apply for a minimum of 3,000 shares, with bids accepted in multiples of this lot size. Below is a summary of the minimum and maximum investment requirements for Retail and High Net Worth Individual (HNI) investors, showing the number of shares and corresponding investment amounts.
| Investor Type | Lots | Shares | Approximate Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 3,000 | ₹1,47,000 |
| Retail (Maximum) | 1 | 3,000 | ₹1,47,000 |
| HNI (Minimum) | 2 | 6,000 | ₹2,94,000 |
Ganga Bath Fittings IPO Promoter Holding
The company’s promoters are Mr. Tusharkumar Vithaldas Tilva, Mr. Jimmy Tusharkumar Tilva, and Mr. Sajan Tusharbhai Tilva. Before the IPO, promoters hold a dominant stake, which will slightly reduce after the issue.
| Shareholding | Percentage (%) |
|---|---|
| Pre-Issue Holding | 98.81% |
| Post-Issue Holding | 69.16% |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Hindware Home Innovation Limited | (4.98) | (75.64) | (41.33)% | 12.05 | – Cr. |
| Cera Sanitaryware Limited. | 183.89 | 36.88 | 17.81% | 1032.26 | – Cr. |
Ganga Bath Fittings IPO Review
- Swastika Investmart –
- Ventura Securities –
- Canara Bank –
- DRChoksey FinServ –
- Emkay Global –
- Hem Securities –
- IDBI Capital –
- Marwadi Shares –
- Nirmal Bang –
- SBICAP Securities –
- Sharekhan –
- SMC Global –
- Sushil Finance –
- Geojit –
- Reliance Securities –
- Capital Market –
- BP Wealth –
- ICICIdirect –
- Choice Broking –
Objects of the Issue
- Capital Expenditure towards purchase of equipment/machine ries, etc.
- Repayment/prepay ment of certain borrowings availed by the Company
- Funding working capital requirements
- General corporate purposes.
Ganga Bath Fittings IPO Financial Performance
Ganga Bath Fittings Limited has shown steady growth in its financial performance over the years. The company’s revenue and profit after tax have increased, showing better business results. Its net worth and reserves are also improving, while total borrowing has reduced slightly. The data is given in crore rupees for the period ending December 2024 and previous years.
| Financials (₹ Crore) | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Revenue | 32.31 | 32.01 | 30.68 | 22.34 |
| Profit After Tax | 4.53 | 2.48 | 0.31 | 0.21 |
| Net Worth | 22.12 | 11.05 | 9.51 | 7.36 |
| Reserves & Surplus | 15.54 | 11.05 | 9.51 | 7.36 |
| Total Borrowing | 10.73 | 13.70 | 12.29 | 13.43 |
| Assets | 43.67 | 33.74 | 32.03 | 29.87 |
Ganga Bath Fittings IPO Valuation Highlights – FY2024
| Key Financial Ratios | Values |
|---|---|
| Return on Equity (ROE) | 15.07% |
| Return on Capital Employed (ROCE) | 358.93% |
| EBITDA Margin | 12.04% |
| Profit After Tax (PAT) Margin | 4.38% |
| Debt to Equity Ratio | 0.49 |
| Earnings Per Share (EPS) | ₹2.71 (Basic) |
| Price to Earnings (P/E) Ratio | 18.08 |
| Return on Net Worth (RoNW) | 26.57% |
| Net Asset Value (NAV) | ₹16.61 |
Ganga Bath Fittings IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://kosmic.kfintech.com/ipostatus/
IPO Lead Managers aka Merchant Bankers
- Jawa Capital Services Private Limited
Company Address
Ganga Bath Fittings Limited
Survey No. 121, Nr. Vraj Industrial Estate
SIDC Road, B/H Shantidham Residency
Veraval (Shapar), Kotda Sangani,
Phone: +91-9033863882
Email: [email protected]
Website: https://gangabathfittings.com/
Ganga Bath Fittings IPO FAQs
When does the Ganga Bath Fittings IPO open and close?
The IPO opens on June 4, 2025, and closes on June 6, 2025.
What is the price band for the Ganga Bath Fittings IPO?
The price band is ₹46 to ₹49 per share.
What is the minimum lot size for the IPO application?
The minimum lot size is 3,000 shares.
When will the IPO allotment be finalized?
The allotment is expected on June 9, 2025.
When will refunds be issued for unsuccessful applications?
Refunds will be processed on June 10, 2025.
When will the shares be credited to investors’ Demat accounts?
Shares will be credited on June 10, 2025.
When will the IPO be listed on the NSE SME?
The listing date is June 11, 2025.
What is the total issue size of the IPO?
The total issue size is approximately ₹32.65 crores with 66.63 lakh shares offered.
Who are the promoters of Ganga Bath Fittings Limited?
The promoters are Mr. Tusharkumar Vithaldas Tilva, Mr. Jimmy Tusharkumar Tilva, and Mr. Sajan Tusharbhai Tilva.
What is the company’s business?
Ganga Bath Fittings manufactures and supplies bathroom accessories like CP taps, showers, sanitary ware, ABS fittings, door handles, and more.