Ganesh Consumer Products, a leading FMCG player, has recently filed a draft prospectus with SEBI for its upcoming initial public offer (IPO). The Kolkata-based company is planning to raise funds through a combination of fresh issue of shares and offer-for-sale by existing shareholders.
The proposed IPO will consist of a fresh issue of shares worth up to ₹130 crore, along with an offer-for-sale of up to 12.44 million equity shares by promoters and investor selling shareholders. Additionally, the company may also consider a pre-IPO placement of equity shares worth up to ₹26 crore.
The funds raised from the fresh issue will be utilized for purposes such as prepayment of borrowings, funding capital expenditure for a new manufacturing unit, and general corporate uses. Ganesh Consumer Products has a strong presence in the East India market for packaged wheat flour, gram-based flour products, spices, and ethnic snacks.
With seven manufacturing facilities across multiple states, the company has shown impressive revenue growth over the years. The draft prospectus reveals that Ganesh Consumer Products witnessed a compounded annual growth rate of 29.16% in revenue from operations from FY22 to FY24.
The IPO will be conducted through the book-building process, with allocation to different categories of investors as per regulatory guidelines. The equity shares of the company will be listed on both NSE and BSE. DAM Capital Advisors, IIFL Capital Services, and Motilal Oswal Investment Advisors are the appointed book-running lead managers for the issue.
Overall, Ganesh Consumer Products is poised for growth and expansion in the FMCG sector, and the IPO is expected to generate significant interest from investors. The company’s strong market position, diversified product portfolio, and robust financial performance make it an attractive investment opportunity in the consumer goods industry.