Ganesh Consumer Products Eyes Growth with Upcoming IPO

Ganesh Consumer Products Ltd is set to enter the capital market with its IPO, aiming to raise funds for debt repayment and expansion. The IPO includes a fresh issue and offer-for-sale, allowing promoters to divest equity. Proceeds will support expansion projects, including a new manufacturing unit.


Devdiscourse News Desk | Kolkata | Updated: 27-12-2024 17:57 IST | Created: 27-12-2024 17:57 IST
Ganesh Consumer Products Eyes Growth with Upcoming IPO
  • Country:
  • India

Ganesh Consumer Products Ltd, a prominent FMCG company based in Eastern India, announced on Friday its intention to go public as it filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company aims to raise Rs 130 crore through this initial public offering (IPO).

The proposed IPO is expected to consist of a fresh issuance of shares totaling Rs 130 crore and an offer of up to 12.44 million equity shares for sale by promoters and investors. The face value of each share is pegged at Rs 10, and the company may also consider a pre-IPO equity share placement worth Rs 26 crore, aligning with the fresh issuance.

Funds generated from the fresh issue will be employed to prepay a debt of Rs 50 crore, invest in a new manufacturing unit in Darjeeling, West Bengal, with a similar amount, and address other corporate financial needs. Ganesh Consumer Products, known for its leadership in packaged wheat-based products, boasts a wide range of 42 products and an extensive distribution network.

(With inputs from agencies.)

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