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The IPO of Ganesh Consumer Products Limited, the company that makes wheat and gram based products, subscribed only 12% on the first day. This is open from tomorrow i.e. 22 September. Retail investors will be able to bid minimum of Rs 14,812 by September 24 for this issue.
Ganesh wants to raise Rs 408.80 crore from consumer products offering. The company shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on 29 September.
If you are also trying to invest in this IPO, then see its details here …
How much money can you spend minimum and maximum?
Ganesh Consumer Products has fixed the price band of the IPO ₹ 306 to ₹ 322. Retail investors can do bidding for minimum for 46 shares. If you apply for 1 lot of IPO’s Upper Prize Band ₹ 322, then you have to invest Rs 14,812.
At the same time, retail investors can apply for maximum 13 lots i.e. 598 shares. For this, investors will have to invest Rs 1,92,556 according to the upper prize band.
35% of the issue reserved for retail investors
The company has reserved 50% of the IPO for qualified Institutional Buyers (QIB). In addition, 15% for non-institutional investors (NII), and 35% reserve for retail individual investors.
Ganesh Consumer started in 1936
Ganesh Consumer Products Limited is a major FMCG company in India, mainly focused on wheat -based products. It was a family business that started in 1936. However, the company’s official establishment was held on 9 March 2000 in Kolkata.
It is the third largest brand in wheat-based products such as flour, maida, semolina, dal, Sattu and Besan in Eastern India. The company’s distribution network extends to West Bengal, Bihar, Jharkhand, Odisha and Assam.
The company’s flagship brand ‘Ganesh’ offers Missleenius product series, which includes wheat and gram -based price -addicted flour such as bakery maida, tandoori flour, rumali flour, multigrain sattu, sweet sattu, spices (turmeric powder, chilli powder, coriander) and ethnic snacks. It has launched 11 new products and 94 SKUs in the last three years.
What is IPO?
When a company releases its shares for the common people for the first time, it is called an initial public offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.
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