Ganga Bath Fittings IPO Day 2 update: Subscription lags at 75%, GMP 7%
Ganga Bath Fittings IPO Day 2, subscription status: The SME offering has received bids for 50,16,000 shares, against 66,63,000 on offer, leading to a subscription of 54 per cent
 "Ganga Bath Fittings IPO Day 2 update: Subscription lags at 75%, GMP 7%")
Ganga Bath Fittings IPO Day 2, subscription status: The initial public offering of bathroom accessories manufacturer Ganga Bath Fittings has received a muted response from investors so far. The SME offering, which opened for public subscription on Wednesday, June 4, has received bids for 50,16,000 shares, against 66,63,000 on offer, leading to a subscription of only 75 per cent as of 2 PM on Thursday, according to NSE data.
Ganga Bath Fittings IPO grey market premium (GMP)
According to sources tracking unofficial markets, the unlisted shares of Ganga Bath Fittings were trading at ₹52.5 in the grey market, commanding a GMP of ₹3.5 or 7 per cent against the issue price of ₹49 as of 9 AM on Thursday.
Ganga Bath Fittings IPO details
The company plans to raise ₹32.65 crore through a fresh issue of 6.66 million equity shares. There is no offer for sale (OFS) component. The SME IPO will close for subscription on Friday, June 6, 2025. The basis of the allotment of shares is expected to be finalised on Monday, June 9, 2025. Shares of Ganga Bath Fittings are scheduled to be listed on the NSE SME platform, tentatively on Wednesday, June 11, 2025.
The company has set the price band in the range of ₹46 to ₹49 per equity share. Retail investors can bid for a minimum of one lot consisting of 3,000 shares with an investment amount of ₹1,38,000. The minimum investment required for high-net-worth individuals (HNIs) is ₹2,94,000 for two lots of 6,000 equity shares.
Kfin Technologies is the registrar of the issue. Jawa Capital Services is the sole book-running lead manager for the issue.
According to the red herring prospectus (RHP), from the net fresh issue proceeds, ₹20.13 crore to purchase equipment or machinery, ₹5.32 crore for repayment or prepayment of certain borrowing, and ₹2.7 crore for working capital requirements. The remaining funds will be used for general corporate purposes. Catch Stock Market Updates Today LIVE
About Ganga Bath Fittings
Incorporated in 2018, Ganga Bath Fittings is engaged in manufacturing and supplying bathroom accessories including but not limited to bath fittings items such as CP taps and their parts, showers, bath accessories, Sanitary wear, ABS Showers, ABS Health faucet, ABS Taps, ABS Accessories, PTMT Taps, Door Handles, Bathroom Vanities, Bathroom Sinks, SS Showers, Shower Drains, SS Channel Drainer etc. It also manufactures customised components based on customer specifications. The company has a network of over 2,500 distributors across India.