Mumbai: Ganga Bath Fittings Ltd will open its SME IPO for subscription on Tuesday, June 4, and it will close on Friday, June 6. The IPO is a fresh issue of 66.63 lakh equity shares, aiming to raise Rs 32.65 crore.

The price band is fixed at Rs 46 to Rs 49 per share. Investors can bid in a minimum lot of 3,000 shares, which means a minimum investment of Rs 1,38,000 for retail investors. High net-worth individuals (HNIs) need to apply for at least two lots (6,000 shares), requiring Rs 2,94,000.

Company Overview

Ganga Bath Fittings operates in the sanitary ware and bathroom fittings segment. It makes bathroom accessories, fittings, and hardware products. The company has shown strong growth in both revenue and profit over the years.

Financial Highlights

The company’s net profit grew from Rs 2.48 crore in FY23–24 to Rs 4.53 crore as of December 2024.

Its revenue was Rs 30.68 crore in FY22–23, and Rs 32.31 crore for the nine months ending December 2024, already higher than the full year FY23–24 revenue of Rs 32.01 crore.

The company’s net worth increased to Rs 22.12 crore by December 2024, from Rs 11.05 crore in March 2024. Its borrowings reduced from Rs 13.70 crore to Rs 10.73 crore during the same period.

Important Dates

IPO opens: June 4

IPO closes: June 6

Allotment date: June 9

Listing date: June 11 (NSE SME platform)

Lead Manager & Registrar

Book Running Lead Manager: Jawa Capital Services

Registrar: Kfin Technologies Limited

This IPO gives investors a chance to invest in a growing company in the sanitary ware industry.