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50m ago

Ganesh Consumer IPO Draws 12% Day-One Subscription

Muted grey‑market pricing signals only modest listing gains despite strong anchor participation.

Ashish Kacholia-backed-Ganesh Consumer Products IPO kicks-off: Should you subscribe to it?
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Overview

  • The three-day offer opened on September 22 and closed its first day at 12% overall subscription, with retail at 20% and non-institutional at 6%, according to NSE data.
  • The book-built issue totals Rs 408.80 crore in the Rs 306–322 price band, comprising a Rs 130 crore fresh issue and a Rs 278.80 crore offer-for-sale.
  • Proceeds are earmarked for debt repayment of about Rs 60 crore, a Rs 45 crore roasted gram and gram flour unit in Darjeeling, and general corporate purposes.
  • Anchors were allotted 37.99 lakh shares at Rs 322 apiece, raising Rs 122.33 crore, with participants including Bengal Financial (backed by Ashish Kacholia), Samsung India and BNP Paribas Financial Markets.
  • The grey market premium hovered around Rs 10–12, implying an estimated listing near Rs 332–334, though GMPs are unofficial and speculative; allotment is slated for September 25 and listing for September 29.