Ganga Bath Fittings IPO: A Step Towards Greater Innovation

Ganga Bath Fittings launched a Rs 33-crore IPO to facilitate modern machinery investments, enhance manufacturing, and expand market presence. Priced between Rs 46-49 per share, the IPO aims to consolidate financial strength. The company reported FY24 revenue of Rs 31.89 crore with a PAT of Rs 2.48 crore.

The Rs 33-crore IPO of Ganga Bath Fittings, a leading bathroom accessories manufacturer, opened for public subscription on Wednesday, priced at Rs 46-49 per share. Potential investors can bid for a minimum of 3,000 shares, with the offering closing on June 6.

Listed on NSE Emerge, the IPO is exclusively a fresh issue of 66.63 lakh shares. The funds raised are designated for capital expenditure, debt repayment, working capital, and general corporate purposes, the company revealed.

Ganga Bath Fittings' MD, Jimmy Tusharkumar Tilva, stated that the IPO would support future ambitions by enabling investments in advanced machinery, boosting manufacturing capabilities, and deepening market penetration. In FY24, the company recorded a revenue of Rs 31.89 crore and a PAT of Rs 2.48 crore. Jawa Capital Services and KFin Technologies are managing the IPO.

(With inputs from agencies.)