The IPO of bathroom accessories manufacturer Ganga Bathfitings Limited opened on Wednesday i.e. on 4 June for subscription. Investors will be able to install bids (buying subscriptions) by June 6 in this IPO. The IPO of Rs 33 crore of Ganga Bath Fitings is Rs 46-49 per equity share. According to PTI news, the company shares will be listed on the NSE Emerg and investors can bid in minimum 3,000 shares and its multiples. The IPO is completely a new issue of 66. 63 lakh shares.
Where will the company use the amount
According to the news, the company is going to use the amount received from the IPO for capital expenditure, repayment of debt, funding of working capital needs and general corporate purpose. Jimmy Tushrakumar Tilwa, MD of Ganga Bath Fitings, said that this IPO will promote our vision for the future, so that we will be able to invest in modern machinery, improve our manufacturing scale and strengthen our financial foundations. We see it as a step for more innovation and deep penetration in the market.
How is the company’s financial performance
In FY 2024, the company recorded a revenue of Rs 31.89 crore and a tax benefit (PAT) after a tax of Rs 2.48 crore. As of December last year, bathroom accessories had recorded revenue of Rs 32.29 crore and PAT of Rs 4.53 crore. Let me tell you, Java Capital Services is the only book running lead manager and Caffein Technologies is the registrar of this issue. The promoters of the company are Tushakumar Vitthaldas Tilva, Jimmy Tushakumar Tilva and Sajan Tusharbhai Tilwa.
What makes the company
Ganga Bath Fitings is the creator and supplier of bathroom accessories. The company’s portfolio includes chrome-plated taps and their components, shower, sanitary ware, acrylonitryl butadine styrene (ABS) tap, ABS shower, ABS health tap and other related accessories. The company also produces polythetra methylene terefthelet (PTMT) tap, stainless steel (SS) shower, door handle, bathroom vanity, sink, shower drain and SS channel drivers. The company operates through 30 distributors and distribution networks of around 2500 dealers and retailers.
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