Ganesh Consumer Products Announces IPO: Price Band Set at ₹306-322
Ganesh Consumer Products Ltd, a leading FMCG company in eastern India, has announced its IPO with a price band of ₹306-322 per share, aiming to raise ₹408 crore. The offering includes a fresh issue of ₹130 crore and an offer for sale of 8,658,333 equity shares. The subscription period is set for September 22-24, 2023. Funds will be used for debt repayment, establishing a new manufacturing unit, and general corporate purposes. The company holds significant market positions in eastern India, including being the third-largest packaged wheat flour brand and the largest player in wheat-based derivatives.
*this image is generated using AI for illustrative purposes only.
Ganesh Consumer Products Ltd, a leading FMCG company based in Kolkata, has announced its Initial Public Offering (IPO) with a price band of ₹306-322 per share. The company aims to raise ₹408 crore through this offering, which includes both fresh issue of shares and an offer for sale.
IPO Details
- Price Band: ₹306-322 per share
- Subscription Period: September 22-24, 2023
- Anchor Investor Bidding: September 19, 2023
- Fresh Issue: ₹130 crore
- Offer for Sale: 8,658,333 equity shares
Utilization of Funds
The company plans to utilize the proceeds from the fresh issue for:
- Debt repayment: ₹60 crore
- Establishment of a roasted gram flour manufacturing unit in Darjeeling: ₹45 crore
- General corporate purposes
Company Profile
Ganesh Consumer Products Ltd has established itself as a significant player in the FMCG sector, particularly in eastern India:
- Third-largest packaged wheat flour brand in eastern India
- Largest player in wheat-based derivatives in the region
- 40.5% market share in West Bengal's wheat-based products
- Among the top two players in packaged sattu and besan in eastern India
- 43.4% market share in packaged sattu
- 4.9% market share in packaged besan
Market Position
| Product Category | Market Position | Market Share |
|---|---|---|
| Packaged Wheat Flour | 3rd Largest in Eastern India | - |
| Wheat-based Derivatives | Largest in Eastern India | - |
| Wheat-based Products (West Bengal) | - | 40.50% |
| Packaged Sattu (Eastern India) | Top 2 | 43.40% |
| Packaged Besan (Eastern India) | Top 2 | 4.90% |
This IPO represents a significant step for Ganesh Consumer Products as it seeks to expand its operations and strengthen its financial position. The company's strong market position in eastern India, particularly in West Bengal, highlights its regional dominance in wheat-based products and derivatives. Investors and market watchers will be closely monitoring the subscription trends when the IPO opens on September 22.
17
