Allotment

Ganga Bath Fittings Limited launched a book-built IPO totaling ₹32.65 crore, comprising entirely a fresh issue of 0.67 crore equity shares.
The IPO was open for subscription from June 4, 2025, to June 6, 2025, with allotment finalized on June 9, 2025. The shares were subsequently listed on the NSE SME platform on June 11, 2025.
The IPO was offered at a price band of ₹49 per share. Investors could apply in a lot size of 3,000 shares, requiring a minimum investment of ₹1,38,000 for retail applicants. High Net-worth Individuals (HNIs) were required to apply for a minimum of two lots (6,000 shares), amounting to ₹2,94,000.
Jawa Capital Services Pvt. Ltd. acted as the Book Running Lead Manager, while Kfin Technologies Ltd. served as the registrar. Rikhav Securities Ltd. was appointed as the market maker for the IPO.
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| IPO Date | 11 Jun |
| IPO Listing Date | 11 Jun |
| IPO Face Value | ₹10 per share |
| IPO Price Range | ₹49.00 |
| IPO Issue Size | 66,63,000 shares |
| IPO Sale Type | Fresh Capital |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | NSE SME Platform |
| Share Holding Pre Issue | 1,55,44,848 shares |
| IPO Open Date | 4 Jun |
| IPO Close Date | 6 Jun |
| IPO Allotment (Tentative) | 9 Jun |
| Refunds | 10 Jun |
| Credit to Demat Account | 10 Jun |
| IPO Listing Date | 11 Jun |
| Category | Offer |
|---|---|
| QIB Shares Offered | 69,000 Shares |
| NII (HNI) Shares Offered | 31,29,000 Shares |
| Retail Shares Offered | 31,29,000 Shares |
Investors may apply for a minimum of 3,000 shares, with bids accepted in multiples of 3,000 shares.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,47,000 |
| Retail (Max) | 1 | 3,000 | ₹1,47,000 |
| S-HNI (Min) | 2 | 6,000 | ₹2,94,000 |
| S-HNI (Max) | - | - | - |
| B-HNI (Min) | - | - | - |
Incorporated in 2018, Ganga Bath Fittings Limited specializes in the manufacture and supply of a wide range of bathroom accessories, including CP taps, showers, sanitary ware, ABS fittings, door handles, vanities, sinks, and more.
The company’s state-of-the-art manufacturing facility is located in Shapar-Veraval, Gujarat, and employs advanced technology and skilled manpower to ensure high-quality products. It also manufactures customized components based on client specifications, ensuring timely delivery and personalized service.
Product Portfolio (Brand: GANGA)
CP Bath Fittings – Chrome-plated faucets and fixtures combining durability with aesthetic appeal.
Sanitary Ware – Products catering to both residential and commercial needs.
PTMT Taps – Polytetra Methylene Terephthalate taps, known for strength and wear resistance.
Stainless Steel Showers – Long-lasting, modern design showers for various applications.
ABS Accessories – Lightweight and sturdy bathroom accessories made from Acrylonitrile Butadiene Styrene.
As of December 2024, the company offered 250 SKUs in the GI Unit, 32 SKUs in the GBS Unit, and 150 SKUs in the GPI segment, demonstrating a diverse and extensive product range.
Operations & Workforce
The company maintains a network of over 2,500 distributors with long-standing relationships across India. Ganga Bath Fittings is ISO 9001:2015 certified for quality management systems covering the design, manufacture, and supply of brass bath fittings, sanitary ware, PTMT taps, stainless steel showers, stainless steel gullies, ABS taps, and other accessories.
As of December 2024, the company had 2 Executive Directors and 155 employees.
Competitive Strengths
Experienced Promoters and Management Team
Wide and diverse product range
Strong, long-standing relationships with distributors, clients, and suppliers
Experienced R&D team
High quality standards and certifications
| Assets | 43.67 | 33.74 | 32.03 |
| Total Income | 32.31 | 32.01 | 30.68 |
| Profit After Tax | 4.53 | 2.48 | 0.31 |
| EBITDA | - | - | - |
| NET Worth | 22.12 | 11.05 | 9.51 |
| Reserves and Surplus | 15.54 | 11.05 | 9.51 |
| Total Borrowing | 10.73 | 13.7 | 12.29 |
| ROE | 15.07% |
| ROCE | 29.80% |
| Debt/Equity | 0.87 |
| RoNW | 15.07% |
| PAT Margin | 9.96% |
| EBITDA Margin | 12.04% |
| Price to Book Value | 2.95 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | 18.95 |
| 2 | To meet out the expenses of Working Capital Requirement | 2.7 |
| 3 | To meet out the General Corporate Purposes; | 4.67 |
| 4 | Offer for Sale (OFS) | - |
Ganga Bath Fittings Ltd. Address
Survey No. 121, Nr. Vraj Industrial Estate
SIDC Road, B/H Shantidham Residency
Veraval (Shapar), Kotda Sangani,
Rajkot, Gujarat, 360024
+91-9033863882
cs@gangabathfittings.com
IPO Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
gbfl.ipo@kfintech.com
https://ipostatus.kfintech.com/