Ganga Bath Fittings IPO sees muted response; subscription at 1.4x, GMP nil

Ganga Bath Fittings IPO Day 3 subscription status: The three-day subscription window to bid for the initial public offering (IPO) of bathroom accessories maker Ganga Bath Fittings is set to conclude today, Friday, June 6, 2025. 

 

Ganga Bath Fittings IPO, which opened for subscription on Wednesday, June 4, has received a muted response from investors so far. The NSE data shows that the ₹32.65 crore offering received bids for 90,54,000 shares, against 66,63,000 shares on offer, resulting in an over subscription of 1.36 times till 1:48 PM on Friday.

Ganga Bath Fittings IPO GMP

The unlisted shares of Ganga Bath Fittings were trading flat at ₹49, the upper price band as of 2 PM on Friday, according to sources tracking unofficial market activities.

 

Ganga Bath Fittings IPO details

Ganga Bath Fitting IPO comprises an entirely fresh issue of 6.66 million equity shares with no offer for sale (OFS) component. The public offering is available at a price band of ₹46-49 per share, with a lot size of 3,000 shares. Investors can bid for a minimum of 3,000 shares and in multiples thereof.

 

A retail investor would require a minimum of ₹1,47,000 to bid for one lot or 3,000 shares of Ganga Bath Fittings IPO (taking the upper end of the IPO price into consideration). The minimum lot size investment for high net-worth individuals (HNIs) is two lots (6,000 shares) amounting to ₹2,94,000.  ALSO READ | Monolithisch India IPO opens on June 12: Here's all you need to know

 

As the subscription window closes today, the basis of allotment of Ganga Bath shares is likely to take place on Monday, June 9, 2025. Shares of Ganga Bath Fittings are scheduled to be listed on the NSE SME platform on Wednesday, June 11, 2025. 

 

Kfin Technologies is the registrar for the Ganga Bath Fittings IPO, and Jawa Capital Services is the sole book-running lead manager of the public issue.

Ganga Bath Fittings IPO objective

According to the red herring prospectus (RHP), the company aims to utilise ₹20.13 crore from the net issue proceeds to purchase equipment or machinery, ₹5.32 crore for repayment or prepayment of certain borrowings availed by the company, and ₹2.70 crore for working capital requirements. The remaining funds will be used for general corporate purposes. 

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.