Ganga Bath Fittings shares list at 20% premium over IPO price

Ganga Bath Fittings, a leading bathroom accessories maker, listed on the NSE SME at Rs 59 per share, marking a 20.4% premium over the issue price of Rs 49. The IPO aimed to raise Rs 32.65 crore via a fresh issue of 66.63 lakh shares.

Ahead of the listing, the grey market premium (GMP) for Ganga Bath Fittings IPO suggested a discounted debut, with the stock expected to open around Rs 47, below the issue price of Rs 49. A negative GMP suggests that the demand for the stock in the informal market has been lukewarm, raising caution among investors.

However, defying expectations, the Ganga Bath Fittings stock listed at a premium of Rs 59 per share.


Ganga Bath Fittings, incorporated in 2018, manufactures a wide range of products, including CP taps, showers, PTMT taps, sanitary wares, and stainless steel showers.

With over 2,500 distributors and more than 400 SKUs across different product segments, the company has a strong presence in the domestic market.

Financially, the company has reported steady growth in recent years. For the nine months ending December 2024, it reported a revenue of Rs 32.31 crore and a net profit of Rs 4.53 crore, marking a significant improvement compared to previous periods.

The IPO proceeds are earmarked for capital expenditure towards equipment purchase, repayment of certain borrowings, funding working capital requirements, and general corporate purposes.

Ganga Bath Fittings IPO was managed by Jawa Capital Services, with Kfin Technologies serving as the registrar.