Ganesh Consumer Products Ltd., a leading FMCG company based in Kolkata, is set to launch its Initial Public Offering (IPO) from September 22 to 24. The company aims to raise Rs 408.80 crore through this offering, with shares priced in the band of Rs 306-322 each.

IPO Details

The IPO comprises:

• A fresh issue of shares worth Rs 130.00 crore
• An offer-for-sale (OFS) of 1.24 crore shares amounting to Rs 278.80 crore

Promoters Manish Mimani and Madhu Mimani will be participating in the OFS by selling a portion of their holdings.

Minimum Investment

Retail investors interested in participating in the IPO will need to apply for a minimum of 46 shares, which at the upper price band would cost Rs 14,812.

Company Profile

Ganesh Consumer Products is recognized as one of the largest packaged wheat flour brands in East India. The company's product portfolio spans across 42 different items in the FMCG sector.

Use of Proceeds

The funds raised through the IPO will be utilized for:

• Repayment of existing debt
• Capital expenditure for a new manufacturing unit in West Bengal
• General corporate purposes

Financial Performance

The company has demonstrated financial performance in recent years:

This data shows an increase in both revenue and profit between the two fiscal years.

The launch of this IPO marks a significant milestone for Ganesh Consumer Products as it seeks to expand its operations and strengthen its position in the FMCG market.

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

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.