Ganga Bath Fittings Limited IPO
Ganga Bath Fittings Limited, originally founded as Ganga Plast Industries in 2018 by the Tilva family, has undergone multiple transformations—from a partnership firm to an LLP in 2020, and finally a public company in 2024. The company acquired M/s Ganga Industries and M/s Ganga Bathing Solutions, enhancing its product line. It now operates three units in Rajkot, Gujarat, manufacturing CP taps, ABS and PTMT fittings, SS showers, and sanitary ware under brands like Ganga, Glimpse, Stepian, and Tora. Backed by ISO 9001:2015 certification and an experienced team, the company is focused on innovation, customer satisfaction, and expanding its market presence across India.
Price Band₹46 - ₹49 |
Dates04 Jun - 06 Jun |
GMP₹3 (6.12%) |
Subscriptions1.70 times |
Issue Size₹32.65 Crs |
Ganga Bath Fittings IPO Objects
- Capex towards purchase of equipment/machineries
- Repayment of certain borrowings availed by our Company
- Funding working capital requirements
- General Corporate Purpose
Ganga Bath Fittings IPO Details
Price Band₹46 - ₹49 |
Listing AtNSE SME |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹32.65 Cr (0.67 Cr Shares) |
Offer For Sale₹0.00 (0.00 Shares) |
Total Issue₹32.65 Cr (0.67 Cr Shares) |
Face Value₹10 per equity share |
Ganga Bath Fittings IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Retail |
Minimum
1
3,000
1,47,000
Maximum
1
3,000
1,47,000
|
|||
| NII |
Minimum
2
6,000
2,94,000
|
|||
Ganga Bath Fittings IPO Subscription
Updated as on 06-Jun-2025 19:00:05 hrs
| Investor Category | Subscription (times) | Shares Offered | Shared Bid |
|---|---|---|---|
| QIB | 2.22 | 69,000 | 1,53,000 |
| NII | 0.83 | 31,29,000 | 26,07,000 |
| Retail | 2.55 | 31,29,000 | 79,80,000 |
| Total | 1.70 | 63,27,000 | 1,07,40,000 |
Ganga Bath Fittings IPO GMP
The estimated Grey Market Premium of Ganga Bath Fittings IPO is ₹3 per share (6.12%)
Disclaimer: The GMP prices displayed here reflect news related to grey market trends. We do not trade or deal in the grey market, including subject-to-rates, nor do we recommend participating in grey market trading.
Category Allocation
| Particulars | Allocation |
|---|---|
| QIB | Not more than 1.10% of Net Offer |
| NII | Not less than 49.45% of Net Offer |
| Retail | Not less than 49.45% of Net Offer |
| Market Maker | 3,36,000 EQ Shares |
Ganga Bath Fittings IPO Financials
| Particulars | Dec-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Revenue from Operations | 24.82 | 13.58 | 12.18 | 10.67 |
| Profit after Tax | 3.84 | 0.59 | 0.09 | 0.01 |
| Net Worth | 22.12 | 3.94 | 1.35 | 1.24 |
| Total Borrowing | 10.73 | 7.37 | 5.16 | 4.27 |
| Total Assets | 43.67 | 10.41 | 8.61 | 7.02 |
| NAV per share (in ₹) | 16.61 | 10.00 | 10.00 | 10.00 |
| EPS - Basic (in ₹) | 3.28 | 1.51 | 0.69 | 0.06 |
The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | KPI |
|---|---|
| EBITDA | 12.04% |
| PAT | 4.38% |
| ROE | 15.07% |
| ROCE | 358.93% |
| PE Ratio | 32.45 |
| PB Ratio | 4.90 |
| Mkt Cap (in Crs.) | 108.82 |
- All Ratios are based on Mar 24
- PE, PB, and Post-Issue Market Capitalization are calculated based on the upper price band.
Ganga Bath Fittings IPO Peer Comparision
| Particulars | Ganga Bath Fittings | Hindware Home Innovatio | Cera Sanitaryware |
|---|---|---|---|
| Revenue from Ops (in Crs.) | 13.58 | 444.82 | 1,871.23 |
| PAT (In Crs.) | 0.59 | -35.99 | 239.17 |
| EPS - Basic | 2.71 | -4.98 | 183.89 |
| NAV per share | 16.61 | 12.05 | 1,032.26 |
| RONW | 26.57% | -41.33% | 17.81% |
| EBITDA | 12.04% | -2.77% | 18.91% |
| PAT Margin | 4.38% | -8.09% | 12.87% |
| Price to earning (PE) | 32.45 | -75.64 | 36.88 |
- All the information pertains to FY 2023-24
- The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of May 28, 2025 for Peers
Ganga Bath Fittings IPO Peer Comparision
| Particulars | Ganga Bath Fittings |
|---|---|
| Revenue from Ops (in Crs.) | 13.58 |
| PAT (In Crs.) | 0.59 |
| EPS - Basic | 2.71 |
| NAV per share | 16.61 |
| RONW | 26.57% |
| EBITDA | 12.04% |
| PAT Margin | 4.38% |
| Price to earning (PE) | 32.45 |
| Hindware Home Innovatio | Cera Sanitaryware |
|---|---|
| 444.82 | 1,871.23 |
| -35.99 | 239.17 |
| -4.98 | 183.89 |
| 12.05 | 1,032.26 |
| -41.33% | 17.81% |
| -2.77% | 18.91% |
| -8.09% | 12.87% |
| -75.64 | 36.88 |
- All the information pertains to FY 2023-24
- The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of May 28, 2025 for Peers
Promoter Details
| Name | Shareholding |
|---|---|
| Mr. Sajan Tusharbhai Tilva | 36.57% |
| Mr. Jimmy Tusharkumar Tilva | 32.60% |
| Mr. Tusharkumar Vithaldas Tilva | 15.19% |
| Other Promoter | 14.44% |
| Total | 98.81% |
Management Details
| Name | Designation |
|---|---|
| Jimmy Tusharkumar Tilva | MD |
| Mr. Bharat Bhikubhai Chavda | CFO |
Company Details
Name: Ganga Bath Fittings Limited
Address: Survey No. 121, Nr. Vraj Industrial Estate, SIDC Road, B/H Shantidham Residency, Veraval (Shapar), Kotda Sangani, Rajkot, Gujarat 360024
Number: +91-9033863882
Email: cs@gangabathfittings.com
Website: www.gangabathfittings.com
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Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Ganga Bath Fittings IPO is a SME IPO having an issue size of Rs. ₹32.65 Crs. Ganga Bath Fittings IPO is priced at ₹46 - ₹49 per share. The issue opens on 04 Jun 25 and closes on 06 Jun 25.
Ganga Bath Fittings IPO opens on 04 Jun 25 and closes on 06 Jun 25.
The estimated Grey Market Premium of Ganga Bath Fittings IPO is ₹3 per share (6.12%).
The minimum lot size of Ganga Bath Fittings IPO is 3000 shares & the minimum application amount is Rs. 147000.
The allotment date of Ganga Bath Fittings IPO is 09 Jun 25.
The listing date of Ganga Bath Fittings IPO is 11 Jun 25.
Ganga Bath Fittings IPO is subscribed 1.70 times.
Ganga Bath Fittings IPO is priced at ₹46 - ₹49 per share.
Click the allotment link on Ganga Bath Fittings IPO page of IPO360.
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