In anticipation of IPO, Ganesh Consumer Products RS 122 CR picks up from anchor investors

Ganesh Consumer Products LTD, an important player in packaged food products in East India, said on Friday that it collected more than RS 122 Crore from Anker investors, prior to the first opening of the Sharing Sales for Public Subscription.

Some of the settings that participated in the Anker round included Subhkam Ventures, Bengal Finance and Investment, Saint Capital Fund, BNP Paribas Financial Markets, Citigroup Global Markets Mauritius and Rajasthan Global Securities, according to a circular uploaded on BSE’s website.

The company has assigned 37.99 LAKH shares shares to 14 funds on RS 324 each, so that the transaction size is aggregated on RS 122.33 Crore, it added.

The RS 409 Crore Maiden offer from the company will be available for subscription from 22 to 24 September. The price band is set at RS 306 to RS 322 per share.

The IPO consists of a new issue of shares with a value of a maximum of RS 130 Crore and an offer for sale (OFS) of 86.58 Lakh shares with a value of RS 279 Crore at the top, by promoter and shareholders of investors.

RS 60 Crore will be used of the new issue for the payment of debts; RS 45 Crore for setting up a roasted grammary and grammary production unit in darjeling and general business purposes. The company, founded in 1936, offers 42 products in staples, herbs, ethnic snacks and emerging food categories.

From September 30, 2024, it has a distribution network with more than 70,000 points of sale, modern trading stores and e-commerce platforms. It has seven production facilities in West Bengal, Uttar Pradesh and Telangana.