Ganesh Consumer IPO Closes with Muted Response, 0.41x Subscription
Ganesh Consumer Products Limited's IPO concluded with an overall subscription of 0.41 times, falling short of expectations. The Rs 408.80 crore mainboard issue comprised Rs 130.00 crore in fresh shares and a Rs 278.80 crore offer for sale. Despite the muted response, the grey market shows a modest premium of Rs 9, indicating a potential listing price of Rs 331. Share allotment is expected on September 25, with listing scheduled for September 29 on BSE and NSE.
*this image is generated using AI for illustrative purposes only.
Ganesh Consumer Products Limited's Initial Public Offering (IPO) concluded with a lukewarm response from investors, achieving an overall subscription of 0.41 times. The mainboard issue, valued at Rs 408.80 crore, failed to generate significant enthusiasm in the market.
IPO Details
The IPO comprises fresh shares worth Rs 130.00 crore and an offer for sale amounting to Rs 278.80 crore. The company had set the price band with a cap of Rs 322 per share.
Grey Market Premium
Despite the muted subscription, the grey market shows a modest premium of Rs 9. This indicates an estimated listing price of Rs 331, suggesting potential gains of 2.80% per share over the issue price.
Key Dates
- Share Allotment: Expected on September 25
- Listing Date: Scheduled for September 29 on both BSE and NSE
Company Background
Ganesh Consumer Products, based in Kolkata, is an FMCG company with a rich heritage in the food industry spanning over 80 years.
Subscription Details
| Category | Subscription (times) |
|---|---|
| Overall | 0.41 |
The table above shows the overall subscription status of the IPO, reflecting the muted investor interest.
While the response to the IPO has been subdued, it's important to note that market conditions and investor sentiment can be influenced by various factors. Potential investors and market watchers will be keenly observing the upcoming allotment and listing processes.
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