The buzz in the stock market today is around the Ganesh Consumer Products IPO, which is slowly gaining traction in its early bidding phase. On Day 2 of public subscription, September 23, the IPO saw 18% overall subscription, according to NSE data at 12 PM.
Despite a cautious market backdrop, retail investors have stepped in strongly, while institutional participation remains muted so far.
Market Performance: IPO Subscription Snapshot
By midday on Day 2, Ganesh Consumer Products IPO attracted bids for nearly 16 lakh shares against its offer size of 89 lakh shares.
Here’s how the demand shaped up across investor categories:
- Retail Individual Investors (RIIs): 31% subscribed
- Non-Institutional Investors (NIIs): 11% subscribed
- Qualified Institutional Buyers (QIBs): Yet to make a major move
This early trend shows retail enthusiasm taking the lead, even as institutional flows are still awaited.
Inside the IPO: Structure and Pricing
The Kolkata-based FMCG company aims to raise ₹408.8 crore through this public issue. The offer is split between a fresh issue and an offer for sale (OFS):
- Fresh Issue: ₹130 crore
- Offer for Sale (OFS): ₹278.8 crore (by existing promoters)
- Price Band: ₹306 – ₹322 per share
- Lot Size: Minimum 46 shares, translating to an investment of ₹14,812 at the upper band
The IPO window will remain open till September 24, with allotments expected by September 25. The company is scheduled to list on September 29.
Anchor Book: Early Confidence from Big Investors
Before the IPO opened for the public, Ganesh Consumer Products already tested the waters through its anchor book. On September 19, the company raised ₹122.3 crore by allotting nearly 38 lakh shares to 13 anchor investors.
Some of the key names included:
- PGIM India
- LC Pharos Multi Strategy Fund
- Saint Capital Fund
- Citigroup Global Markets
- BNP Paribas Financial Markets
- Subhkam Ventures
- Bengal Finance
Among these, Subhkam Ventures, Bengal Finance, and Samsung India emerged as the largest participants, each investing ₹18.98 crore for 5.89 lakh shares. Other allocations went to Singularity Equity Fund (Madhusudan Kela-backed), Sanshi Fund, and several global institutions.
This early anchor participation added weight to the IPO’s market debut.
Use of Proceeds: Where the Money Goes
The fresh capital raised by Ganesh Consumer Products will be strategically deployed across multiple areas. Key allocations include:
- ₹60 crore for repayment of certain borrowings
- ₹45 crore for setting up a roasted gram flour and gram flour unit in Darjeeling, West Bengal
- Remaining balance reserved for general corporate purposes
Company at a Glance
Ganesh Consumer Products is a well-known FMCG player from Kolkata, with a stronghold in consumer staples and packaged food products. Its portfolio covers:
- Wheat flour, maida, sooji, dalia
- Instant food mixes and spices
- Ethnic snacks
The company has steadily expanded into packaged foods, aligning itself with the evolving demand for ready-to-cook and ethnic food categories in India.
Financial Performance
Ganesh Consumer Products has shown healthy growth momentum in the last fiscal.
- Revenue (FY25): ₹850.5 crore (up 12% YoY from ₹759 crore)
- Net Profit (FY25): ₹35.4 crore (up 31.3% YoY from ₹27 crore)
The steady increase in both revenue and profitability highlights the company’s ability to scale in a competitive FMCG landscape.
Summary: Stock Market Today and IPO Buzz
With Day 2 subscriptions crossing 18% overall and 31% retail participation, the Ganesh Consumer Products IPO has started to gather momentum. Anchor investors have already placed their early bets, and retail investors continue to drive demand.
As the IPO heads into its final day on September 24, the spotlight stays firmly on this FMCG player—backed by strong financials, diversified product offerings, and early anchor support.
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