Ashish Kacholia invests in Ganesh Consumer’s RS 122 Crore Anker for IPO

Ganesh Consumer Products has raised approximately RS 122 Crore from Anker investors prior to his IPO that will be opened on 22 September. The FMCG company, best known for its wheat-based flower and packaged consumer products in East India, allocated shares on the top of the price band, RS 322 per share, to a link of domestic and global funds.

According to the allocation document, Subhkam Ventures have the biggest slice of the Ankunde in the corner. Each picked up 5.89 lakh shares. Together, the two entities accounts for more than 31% of the anchor yields.

Worldwide institutions also marked their presence. Samsung India Small and Mid Cap Focus Securities Master Investment Trust (Equity) has subscribed to 3.53 Lakh shares, while Samsung India Securities Master Investment raised 2.35 LAKH shares.

Other overseas investors such as LC Pharos Multi Strategy Fund, Citigroup Global Markets Mauritius and Singularity Equity Fund I also participated.

Domestic investment funds and alternative investment vehicles have completed the list. PGIM India Equity Growth Opportunities Fund Series II, Sanshi Fund I, Saint Capital Fund, Rajasthan Global Securities and Dovetail India Fund Class 6 Aarga Samen absorbed important chunks of the offer.

IPO -Details

The RS 409 Crore IPO from Ganesh Consumer consists of a new problem of RS 130 Crore and an offer for sale (OFS) from RS 278.8 Crore.

The price band is set at RS 306–322 per share with a minimum party size of 46 shares, for which a retail investment of RS 14,812 is required at the top. The issue closes on 24 September, with allocations planned for 25 September and expected on September 29.

The by Kolkata with a head office has cut a niche on the East Indian market with its packaged Atta, Maida, Sooji and a growing portfolio of herbs and ethnic food. The proceeds from the new issue will be used to repay the debt and to finance a new production facility in Darjeeling, West Bengalen.