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7h ago

Ganesh Consumer Raises Rs 122 Crore From Anchor Investors Ahead of Rs 408.8-Crore IPO

Broker research values the Kolkata-based staples maker at 36.7 times FY25 earnings at the top of the band and recommends subscribing for the long term.

Overview

  • The company allotted 37.99 lakh shares to 14 anchor funds at Rs 324 apiece, raising Rs 122.33 crore before the public offer.
  • The IPO opens Sept. 22 and closes Sept. 24 with a price band of Rs 306–322 per share and a retail lot size of 46 shares.
  • The issue totals Rs 408.80 crore, including a Rs 130 crore fresh issue and a Rs 278.80 crore offer for sale, with promoters Manish and Madhu Mimani among the sellers.
  • Fresh proceeds will fund debt repayment (Rs 60 crore), a roasted gram and gram flour unit in Darjeeling (Rs 45 crore), and general corporate purposes.
  • Ganesh Consumer reported FY25 revenue of Rs 850.4 crore and profit of Rs 35.4 crore, operates seven plants across West Bengal, Uttar Pradesh and Telangana, and markets about 42 products primarily in East India.