Kolkata-headquartered FMCG company Ganesh Consumer Products has offloaded Rs 122.3 crore worth shares through its anchor book launched for a day on September 19. This is a part of its IPO opening for public subscription between September 22 and September 24.
The company is going to issue new shares amounting to Rs 130 crore, while promoters and investors will be offloading 86.58 lakh shares worth Rs 278.8 crore (at the upper price band) via offer-for-sale.
The price band for the offer is Rs 306-322 per share.
Ganesh Consumer Products in its filing to exchanges on Friday said it has finalised allocation of 37,99,362 shares to 13 anchor investors including PGIM India, LC Pharos Multi Strategy Fund, Saint Capital Fund, Citigroup Global Markets, BNP Paribas Financial Markets, Subhkam Ventures and Bengal Finance at Rs 322 per share.
Subhkam Ventures, Bengal Finance, and Samsung India were the largest investors in the anchor book, each investing Rs 18.98 crore each for 5.89 lakh shares each, while ace investor Madhusudan Kela-backed Singularity Equity Fund, along with Sanshi Fund, PGIM India, LC Pharos Multi Strategy Fund acquired 2.74 lakh shares each for Rs 8.84 crore.
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The company that offers consumer staples comprising of wheat flour, maida, sooji and dalia along with packaged instant food mixes, spices, and ethnic snacks will spend Rs 60 crore of fresh issue proceeds for repayment of certain borrowings.
Further, Rs 45 crore will be used for setting up of a roasted gram flour and gram flour manufacturing unit in Darjeeling, West Bengal, and the remaining amount will be set aside for general corporate purposes.
Ganesh Consumer Products has recorded profit at Rs 35.4 crore for the fiscal 2025, growing 31.3 percent compared to Rs 27 crore in the previous year. Revenue during the same period increased by 12 percent to Rs 850.5 crore, up from Rs 759 crore.
DAM Capital Advisors, IIFL Capital Services, and Motilal Oswal Investment Advisors are merchant bankers managing the Ganesh Consumer Products IPO.
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