Ganesh Consumer Products Ltd. made a weak debut on the exchanges but managed to close higher on its listing day. The stock debuted at ₹296.05 per share on NSE, below its issue price of ₹322 per share.
The company’s ₹408.80 crore IPO was subscribed 2.67 times overall. The Qualified Institutional Buyers (QIBs) category saw strong demand with a 4.18x subscription, followed by Non-Institutional Investors (NIIs) at 4.34x. Retail Individual Investors (RIIs) subscribed 1.15x, while the Employees’ quota was subscribed 2.03x.
The IPO comprised a fresh issue of ₹130 crore (0.40 crore shares) and an Offer for Sale (OFS) of ₹278.80 crore (0.87 crore shares). The price band was fixed at ₹306–₹322 per share, with a minimum application lot size of 46 shares, requiring a minimum investment of ₹14,076 for retail investors.
DAM Capital Advisors, IIFL Capital Services, and Motilal Oswal Investment Advisors were the book-running lead managers, while MUFG Intime India Pvt. Ltd. acted as the registrar to the issue.
