Ganesh Consumer Products IPO: Issue subscribed 2.7 times on Day 03; NII portion sees strong demand

Ganesh Consumer Products IPO in focus: The initial public offering (IPO) of Ganesh Consumer Products was subscribed over 2.5 times on the final day of bidding, September 24. The issue, which opened for bidding, received bids for 2.38 crore shares as of 5:00 p.m. today, against the offered 88.96 lakh shares, resulting in a subscription rate of 2.68 times, according to exchange data.

The retail portion was booked 1.16 times, while the non-institutional investors (NII) witnessed strong demand, with their portion subscribed 4.41 times, and the qualified institutional buyers (QIBs) quota was bid 4.03 times. Finally, the employee portion was booked 2.14 times.

The ₹408.80 crore IPO of Ganesh Consumer Products comprises a fresh issue of 0.40 crore shares worth ₹130 crore and an offer for sale of 0.87 crore shares, amounting to ₹278.80 crore. Ahead of the issue opening, marquee investor Ashish Kacholia-backed Bengal Finance invested in the anchor round.

The IPO price band is set at ₹306 to ₹322 per share. The company proposes to use the proceeds from the issue towards debt repayment, establish a new roasted gram flour and gram flour facility in Darjeeling, and meet general corporate requirements.

The allotment of shares is expected on September 25, 2025, with the listing scheduled on BSE and NSE on September 29, 2025. Dam Capital Advisors Ltd. is acting as the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar.

Ganesh Consumer Products IPO GMP

According to market sources, the grey market premium (GMP) for the Ganesh Consumer Products IPO stands at ₹10 per share. This suggests that the Ganesh Consumer Products IPO shares are estimated to list 3.10% higher than the issue upper-band IPO price of ₹322 apiece.

The grey market premium represents the expected difference between an IPO’s issue price and its anticipated listing price in the unofficial market. However, it’s important to remember that GMP is a preliminary indicator and should not be the sole factor in making investment decisions.

About Ganesh Consumer Products

Founded in 1936, Ganesh Consumer Products is a leading player in packaged staples. It is the third-largest packaged wheat flour brand by value in East India and the market leader in wheat-based derivatives such as maida, sooji, and dalia.

The company also ranks among the top two in gram-based products like sattu and besan, holding market shares of 43% and 5%, respectively. Its flagship “Ganesh” brand spans 42 products across 232 SKUs, covering atta, maida, sooji, dalia, sattu, besan, instant mixes, spices, and ethnic snacks.

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