Ganesh Consumer Products IPO Day 1: Issue Open Today. Check GMP, subscription status, outreach details. Apply or not?

The initial public offer for Ganesh Consumer Products Ltd, a prominent entity in the packaged food sector in East India, will take place from 22 to 24 September. Ganesh Consumer IPO Price Band is set at £ 306 to £ 322 per share. Prior to the launch of the public subscription, Ganesh Consumer Products IPO acquired more than £ 122 from anchor investors. Striking institutions that joined the Anchor Round include Subhkam Ventures, Bengal Finance and Investment, Saint Capital Fund, BNP Paribas Financial Markets, Citigroup Global Markets Mauritius and Rajasthan Global Securities, as mentioned in a Circular website. The company, founded in 1936, offers 42 different products, containing staples, spices, ethnic snacks and new food categories. On September 30, 2024, it boasts a distribution network that spans more than 70,000 retail stores, modern trading institutions and e-commerce platforms. It has seven manufacturing plants in Western Bengals, Uttar Pradesh and Telangana. Ganesh Consumer Products IPO GMP Today Ganesh Consumer IPO GMP is £ 10 today. This indicates that the Ganesh consumer share price on Monday traded at a £ 10 premium in the Gray Market, according to InvestorGain.com. Considering the top of the IPO price band and the current premium in the Gray market, the estimated listing price of the Ganesh consumer share price is indicated at £ 332, which is 3.11% higher than the £ 322 IPO price, according to the gray market activities. The lowest reported GMP is £ 0.00, while the highest £ 25 is, according to expert analysis. ‘Gray Market Premium’ indicates investors’ readiness to pay more than the issue price. Ganesh Consumer IPO Review According to the Anand Rathi Research Team, at the Upper Price Band, the company is priced at 36.7 times FY25 price-to-earnings ratio, leading to a market cap to the £ 13,012m edition. Their strategy focuses on strengthening B2C operations, expanding the presence in the current markets and promoting growth in new areas, mainly concentrating on Western Bengals, Jharkhand, Bihar, Odisha and Assam. In addition, the company intends to improve the visibility of brands in urban, semi-urban and rural areas of East India through improved marketing and advertising efforts. Considering these elements, the IPO seems fully valued and is recommended as a ‘subscriber – long -term’. Ganesh Consumer IPO subscription status subscription for the public edition opens at 10:00 IST during Monday’s transactions. Ganesh Consumer IPO details Ganesh Consumer Products IPO contains a fresh stock expenditure worth up to £ 130 crore and an offer-for-sell (OFS) of 86.58 Lakh shares, priced at £ 279 on the highest range, sold by promoter and investor shareholders. From the returns of the fresh stock issue, £ 60 crore is allocated for debt repayment; £ 45 crore will be used to establish a roasted gram of meal and grammeal manufacturing facility in Darjeeling, along with funds for general corporate needs. Dam Capital Advisors Ltd. serve as the book Manager, and Mufg Intersadia India Pvt. Ltd. act as the registrar for this offer. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.