Ganga Bath Fittings IPO: Price, GMP, And Overview

Ganga Bath Fittings IPO- Complete Overview

Ganga Bath Fittings IPO under the SME IPO category is a book build issue of Rs. 32.65 Cr from Ganga Bath Fittings Limited. It was founded in 2018 and is a manufacturer of bathroom accessories, CP taps, showers, sanitary wear, ABS fittings, Door Hanger, Vanities, Sinks and etc.

Its manufacturing facilities are technologically up to date to elaborate and fabricate products that comply with exact quality standards demanded by its customers. The manufacturer designs and produces customized parts as per customer drawings, availing quality and timely delivery.

It also provides its loyal client base throughout India with customized services.

Ganga, a full product line under this Brand name comprises-

1. Cup Board Bath Fittings​ - You have chrome-plated taps, washlets, basins, and other bath taps.

2. Sanitary Ware - Diverse household and industrial sanitary products.

3. PTMT Taps - Polytetra Methylene Terephthalate taps are noted for their durability, strength, and high abrasion.

4. Stainless Steel Showers - Bohler High-quality stainless steel showers for lifetime use in modern designs.

5. ABC Accessories - Acrylonitrile Butadiene Styrene bathroom fixtures. This material is lightweight and durable.

The company is established at Shapar-Veraval, Gujarat, with its Techno-Economical Manufacturing Unit. Manufacturing works are equipped with modern technology and human resources for the perfect product.

The company had 150 SKUs in its sector GPI, 250 SKUs in the GI Unit, and 32 SKUs in the GBS Unit as of December 2024. The company has well well-established network of over 2500 distributors who have been associated with us for the last few years.

The company is certified with ISO 9001:2015 for the design, manufacturing, and supply of brass bath fittings, sanitary wares, PTMT bath taps, taps, stainless steel showers, stainless steel gullies, ABS taps, and others.

 

 

Ganga Bath Fittings IPO Overview

The Ganga Bath Fittings IPO will be available from June 04, 2025, to June 06, 2025. 

The Rs. 32.65 Cr new SME IPO comprises a wholly fresh issue of 66.63 lac Shares. 

The upcoming IPO date of allotment is June 09. The Ganga Bath Fittings IPO price is Rs. 46 to Rs. 49 for each Share. 

The Ganga Bath Fittings IPO listing date is Jun 11, 2025 (expected) and listing at the NSE and SME.

Click to open demat account and apply for the IPO.

Company Financial

(Amount in Lac)

Period	31 Dec 2024	31 Mar 2024	31 Mar 2023
Total Assets	43.67	33.74	32.03
Total Revenue	32.31	32.01	30.68
PAT	4.53	2.48	0.31
Net Worth	22.12	11.05	9.51
Reserves & Surplus	15.54	11.05	9.51
Borrowings	10.73	13.70	12.29

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Dec 2024	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(130.19)	(98.92)	16.28
Net Cash Flow Investing Activities	(22.45)	(41.33)	(50.07)
Net Cash Flow Financing Activities	159.94	125.06	(5.85)

 

Revenue Bifurcation

Vertical-wise Revenue Bifurcation

 

Segment-wise Revenue Bifurcation

(Amount in lacs)

Geography-wise Revenue Bifurcation

(Amount in lacs)

 

 

The Objective of the Issue

• Issue costs.

• Capital expenditure for the acquisition of machinery, equipment, etc.

• Repayment or prepayment of specific loans that the business has taken out.

• Meeting the needs for working capital.

• General corporate purposes.
  
  

Explore to check your IPO application status.

 

Peers of Ganga Bath Fittings Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Hindware Home Innovation Limited	2	-4.98	-75.64
Cera Sanitaryware Ltd.	5	183.89	36.88

 

Evaluation

Ganga Bath Fittings IPO price is Rs. 46 to Rs. 49 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2024 with an EPS of Rs. 1.51 from the last year, the resulting P/E ratio is 32.45x.

Considering the weighted EPS of Rs. 0.99 for the last three years, the P/E ratio is 49.49x.

Scoda Tubes IPO allotment status is available now.

Comparative Analysis With Listed Peers

The average P/E Ratio of this industry based on listed peers is negative hence, no comparison can be made on a P/E ratio basis.

 

IPO's Strengths

• Knowledgeable promoters and their management team.

• Comprehensive selection of items.

• Good relations with distributors, clients, and suppliers.

• Robust and professional R&D team.

• Strict adherence to product quality and company standards.

 

IPO’s Weaknesses

• The firm's revenue is greatly affected by the top 10 customers and suppliers, contributing 61.75 % and 57.28%, respectively.

• If one of the customers or suppliers is lost, then it will have a major impact on the business operations and bottom line.

• The company carries a significant price risk for brass, steel, and plastic, which are some of the key raw materials. The impact of these fluctuations is on global commodity pricing and supply chain dynamics, which could lead to margin contraction.

• Gujarat makes up most of the company workforce and the local economy. The company having a heavy concentration in a region would face any adverse developments region be it economic, environmental, or political, could hit. 

 

Ganga Bath Fittings IPO GMP

Ganga Bath Fittings IPO GMP is Rs. 0 as of 02 Jun 2025, while writing this information. The Ganga Bath Fittings IPO listing price might be Rs. 49 (estimated).

IPO Timetable (Tentative)

The Ganga Bath IPO date of application is starting from Jun 04 to Jun 06, allotment on Jun 09, refund initiation on Jun 10, and listing on Jun 11, 2025.

Events	Date
IPO Opening Date	Jun 04, 2025
IPO Closing Date	Jun 06, 2025
IPO Allotment Date	Jun 09, 2025
Refund Initiation	Jun 10, 2025
IPO Listing Date	Jun 11, 2025

 

 

Ganga Bath Fittings IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 66,63,000 Shares (Rs. 32.65 Cr).

IPO Opening & Closing date	04 Jun, 2025 to 06 Jun, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 46 to Rs. 49 per Share.
Lot Size	3000 Shares
Issue Size	66,63,000 Shares (Rs. 32.65 Cr)
Offer for Sale	-
Fresh Issue	66,63,000 Shares (Rs. 32.65 Cr)
Listing at	NSE, SME
Issue Type	Book Building Issue
Registrar	Kfin Technologies Limited

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (3000 Shares) amounting to Rs. 1,47,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (6000 Shares) amounting to Rs. 2,94,000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

The Prostarm Info Systems IPO allotment status is available now.

 

IPO Reservation (% of Net Issue)

Institutional’s Portion	50%
Retail’s Portion	35%
Non-Institutional’s Portion	15%

 

Promoters And Management of Ganga Bath Fittings Ltd.

• Mr. Tusharkumar Vithaldas Tilva

• Mr. Jimmy Tusharkumar Tilva

• Mr. Sajan Tusharbhai Tilva.

Pre-Issue Promoter Shareholding	98.81%
Post-Issue Promoter Shareholding	69.16%

 

IPO Lead Managers

• Jawa Capital Services Private Limited.

 

 

Dividend Policy

No dividend has been paid by the company since its incorporation.

 

Conclusion

Ganga Bath Fittings IPO provides a bright opportunity with a good product offering and distribution across the Nation. Experience promoters and modern manufacturing working together, the entity is on track to grow. Investors wishing to increase their visibility in the sanitaryware and fittings industry may want to consider this initial public offering (IPO). Always check out financials, risks, and GMP trends before investing.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.