Summary of this article
Ganesh Consumer shares list at Rs 296.05 apiece on the NSE, down 8.06 per cent from issue price, and at Rs 295 on BSE, down 8.39 per cent. The company plans to use the IPO proceeds to repay outstanding borrowings and fund a new roasted gram and gram flour manufacturing unit in Darjeeling.
Ganesh Consumer Products shares made a weak debut on the Dalal Street on September 29, listing at a discount to the issue price of Rs 322.
On the NSE, the stock opened at Rs 296.05 apiece, down 8.06 per cent from the issue price, while on the BSE it listed at Rs 295, lower by 8.39 per cent. The company, during the three-day bidding window for its initial public offering (IPO), had priced the issue in the range of Rs 306–322 per share and after bidding, issued the stocks at the upper band of Rs 322.
Ganesh Consumer Products, headquartered in Kolkata, West Bengal, is an FMCG company, which is involved in selling a range of flour and food products. These products include whole wheat flour, value-added wheat and gram flours, semolina, roasted gram flour, and packaged instant food mixes under its flagship brand “Ganesh.”
Ahead of the IPO, Ganesh Consumer Products raised Rs 122.34 crore from institutional investors during anchor round on September 19. The company allocated 37,99,362 equity shares to anchor investors at Rs 322 per share. Market veterans Ashish Kacholia and Madhusudan Kela were among the notable names. Kacholia participated through Bengal Finance and Investment Pvt Ltd, while Kela invested via Singularity Equity Fund.
However, sentiment in the grey market market turned cautious since the anchor round. The stock’s grey market premium (GMP), which stood at Rs 25 on the day of the anchor allotment, slid steadily and was quoting at just Rs 2 on September 28, a day ahead of listing.
Through its IPO, Ganesh Consumer Products raised Rs 408.80 crore by issuing 4.04 million fresh equity shares worth Rs 130 crore and via offer for sale of 8.66 million equity shares worth Rs 278.80 crore.
The FMCG company plans to use the Rs 130 crore net proceeds for prepayment of its outstanding borrowings and for funding its capital expenditure for setting up a roasted gram flour and gram flour manufacturing unit in Darjeeling.
The basis of allotment was completed on September 25, allottees received the shares in their demat account on September 26, and non-allotees received refunds to their bank accounts on September 26.
Ganesh Consumer Products reported a consolidated total income of Rs 855.16 crore for the fiscal year ended March 31, 2025, up over 11 per cent from Rs 765.26 crore in FY24.
The company’s consolidated profit after tax (PAT) rose by more than 31 per cent to Rs 35.43 crore in FY25, as against Rs 26.99 crore in the previous year.
