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Ganga Bath Fittings IPO
Price Band
₹46.0–49.0
Issue Size
₹32.65 Cr
Lot Size
3,000 shares
Min Investment
₹147,000
GMP
₹-2.0 (-4.08%)
Issue Price
₹49.0
Ganga Bath Fittings IPO AI Summary
- Ganga Bath Fittings IPO is listed on NSE SME in the Sanitary Ware sector.
- Price band: ₹46.0–₹49.0 per share, lot size 3,000 shares (min. investment ₹147,000).
- Subscription window: 04 Jun–06 Jun 2025, listing on 11 Jun 2025.
- Current GMP is ₹-2.0 (-4.08%), an estimated listing price of ₹47 — unofficial and can change daily.
Ganga Bath Fittings Limited is a manufacturer of bathroom accessories with a strong distribution network and a commitment to quality. The IPO aims to raise funds for capital expenditure, debt repayment, and working capital. Investors should carefully consider the associated risks and market conditions.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Ganga Bath Fittings IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 06 Jun 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Ganga Bath Fittings IPO Grey Market Premium (GMP) Today
GMP
₹-2.0
GMP %
-4.08%
Est. Listing
₹47.0
Updated: 25 Jul 2026 14:15
About the Company
Incorporated in 2018, Ganga Bath Fittings Limited manufactures and supplies various bathroom accessories, including CP taps, showers, sanitary wear, ABS fittings, door handles, vanities, sinks, and more. The company's manufacturing facilities are technologically aligned to develop and manufacture products that meet its customers' stringent quality control requirements. The company manufactures customized components based on customer specifications, ensuring quality and timely delivery. It also offers personalized services to its strong customer base across India. The company offers an extensive product portfolio under the brand name "GANGA," including: CP Bath Fittings: Chrome-plated faucets and fixtures are designed for durability and aesthetic appeal. Sanitary Ware: A variety of sanitary products catering to both residential and commercial needs. PTMT Taps: Polytetra Methylene Terephthalate taps are known for their strength and resistance to wear. Stainless Steel Showers: High-quality stainless steel showers offering longevity and modern design. ABS Accessories: Acrylonitrile Butadiene Styrene-based bathroom accessories that are lightweight yet sturdy. The company's state-of-the-art manufacturing facility is located in Shapar-Veraval, Gujarat. It employs advanced technology and skilled manpower to ensure product excellence. As of December 2024, the company had 250 SKUs in its GI Unit, 32 SKUs in its GBS Unit, and 150 SKUs in its GPI segment. The company maintains a network of over 2,500 distributors who have been affiliated with us for an extended period. The company has ISO 9001:2015 certification for Quality Management Systems regarding the design, manufacture, and supply of brass bath fittings, sanitary wares, PTMT, taps, stainless steel showers, stainless steel gullies, ABS taps, and all kinds of accessories. As of December 2024, the company has 2 Executive Directors and 155 employees on its payroll. Competitive Strength: Experienced Promoters and Management Team Wide range of Products. Long-standing relationship with distributors, clients and suppliers. Strong & experienced R&D team. High Quality standards.
Company Financials (₹ Cr)
As of 2024-12-31
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 43.67 | 33.74 | 32.03 | 29.87 |
| Total Income | 32.31 | 32.01 | 30.68 | 22.34 |
| Profit After Tax | 4.53 | 2.48 | 0.31 | 0.21 |
| NET Worth | 22.12 | 11.05 | 9.51 | 7.36 |
| Reserves and Surplus | 15.54 | 11.05 | 9.51 | 7.36 |
| Total Borrowing | 10.73 | 13.70 | 12.29 | 13.43 |
Key Ratios
EPS
₹1.59
NAV
₹10.00
ROE
15.07%
ROCE
29.80%
RoNW
15.07%
P/B Value
2.95
P/E Ratio
30.74
Market Cap
₹108.82 Cr
PAT Margin
9.96%
Debt/Equity
0.87
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Cera Sanitaryware Ltd. | 1032.26 | 17.81% | 36.88 | 183.89 | 183.89 |
| Hindware Home Innovation Limited | 12.05 | -41.33% | -75.64 | -4.98 | -4.98 |
| Ganga Bath Fittings Limited This IPO | 16.61 | 26.57% | 18.08 | 2.71 | 2.71 |
Promoters
Tusharkumar Vithaldas Tilva, Jimmy Tusharkumar Tilva and Sajan Tusharbhai Tilva
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Capital Expenditure towards purchase of equipment/machine ries, etc. 18.95 2 Repayment/prepay ment of certain borrowings availed by the Company 5.33 3 Funding working capital requirements of the Company 2.70 4 General Corporate Purposes 4.67 5 Issue Expenses 1.00 Total 32.65
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹22.34 Cr in the period ending 31 Mar 2022, increasing to ₹30.68 Cr by 31 Mar 2023, and further rising to ₹32.01 Cr by 31 Mar 2024. By the most recent period, 31 Dec 2024, Total Income reached ₹32.31 Cr.
Profit Trend
Profit After Tax was ₹0.21 Cr in the period ending 31 Mar 2022, which rose to ₹0.31 Cr by 31 Mar 2023. In the following period, 31 Mar 2024, Profit After Tax increased to ₹2.48 Cr, and by 31 Dec 2024, it further grew to ₹4.53 Cr.
Valuation
Ganga Bath Fittings Limited is priced at a P/E ratio of 18.08 at the issue price, compared to peers trading at P/E ratios ranging from -75.64 to 36.88.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the potential listing price of an IPO. It reflects the demand for the shares before they are officially listed and traded on the stock exchange. A positive GMP suggests strong demand, while a negative GMP indicates weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable, established companies with a proven track record may want to avoid this IPO, as it represents a newer entrant in the market with inherent risks associated with growth and competition.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make on the first day of trading after an IPO. However, these gains are not guaranteed and can be affected by market conditions, investor sentiment, and the company's performance. Investors should be cautious, as there is a risk of losses as well.
This evaluation is generated from Ganga Bath Fittings's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Ganga Bath Fittings IPO GMP today?
Ganga Bath Fittings IPO GMP today is ₹-2.0 (-4.08%), indicating an estimated listing price of ₹47. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Ganga Bath Fittings IPO?
The price band of Ganga Bath Fittings IPO is ₹46.0–₹49.0 per share.
When does Ganga Bath Fittings IPO open and close?
Ganga Bath Fittings IPO opens on 04 June 2025 and closes on 06 June 2025.
When does Ganga Bath Fittings IPO list on the stock exchange?
Ganga Bath Fittings IPO listed on 11 June 2025 at ₹47.0.
What is the lot size for Ganga Bath Fittings IPO?
The lot size for Ganga Bath Fittings IPO is 3000 shares, requiring a minimum investment of ₹147,000.
What is the price band for the IPO?
The price band for the IPO is ₹46.0 to ₹49.0.
What is the minimum investment required?
The minimum investment required is ₹147,000, which corresponds to a lot size of 3000 shares.
When does the IPO open and close?
The IPO opens on June 4, 2025, and closes on June 6, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the demand for the IPO shares before they are listed.
When is the listing date?
The listing date is set for June 11, 2025.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
04 Jun 2025
Close
06 Jun 2025
Allotment
09 Jun 2025
Listing
11 Jun 2025
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