Ganga Bath Fittings Limited, formerly known as Ganga Plast Industries Limited, is a Rajkot-based company specializing in ABS showers, health faucets, taps, and accessories. The company has filed for an SME Ganga Bath Fittings Limited IPO on the NSE EMERGE platform.
IPO Timeline
- Open Date: June 4, 2025
- IPO Close Date: June 6, 2025
- Basis of Allotment Finalization: June 9, 2025
- Initiation of Refunds: June 10, 2025
- Listing Date: June 11, 2025
IPO Details
- Issue Type: Book Building (SME)
- Exchange: NSE EMERGE
- Issue Price Band: ₹46 to ₹49 per share
- Lot Size: 3,000 Shares
- Issue Size: ₹32.65 crore
- Issue Price: ₹49 per equity share
- Face Value: ₹10 per share
- Market Capitalization at Issue Price: ₹108.82 crore
- Merchant Banker: Jawa Capital Services Private Limited
- Registrar: Kfin Technologies Limited
Promoters of Ganga Bath Fittings Limited
Ganga Bath Fittings Limited, a Rajkot-based manufacturer specializing in bathroom accessories, is led by a team of seasoned promoters who have played a pivotal role in the company’s growth and strategic direction.
1. Mr. Tusharkumar Vithaldas Tilva
- Position: Non-Executive Director
- Age: 66 years
- Educational Background: Completed 9th grade
- Expertise: Strategic planning, marketing, sales, business development, operations management, and risk management
- Contributions: Instrumental in expanding business operations and enhancing brand awareness
Professional Experience:
- Over 30 years in the distribution sector
- Founded M/s Ganga Industries in 2010, focusing on CP Brass Fittings
- Partnered in Ganga Plast Industries LLP, engaged in manufacturing ABS showers, health faucets, taps, and accessories
2. Mr. Jimmy Tusharkumar Tilva
- Position: Chairman & Managing Director
- Age: 38 years
- Educational Background: Higher Secondary
- Expertise: Production, marketing, and process improvements to enhance efficiency and productivity
- Contributions: Provides strategic leadership and innovative solutions to drive company growth
Professional Experience:
- Over 20 years in the plastic segment and manufacturing technical products
- Established Ganga Plast Industries LLP in 2018, focusing on PTMT taps and ABS products
3. Mr. Sajan Tusharbhai Tilva
- Position: Executive Director
- Age: 33 years
- Educational Background: Higher Secondary
- Expertise: Finance and administration management
- Contributions: Key in sourcing business from multinational companies and overseeing financial operations
Professional Experience:
- Over 14 years in finance and administration within manufacturing units
4. Mrs. Niruben Tusharkumar Tilva
- Position: Promoter
- Role: While specific details about Mrs. Niruben Tusharkumar Tilva’s professional background are not publicly disclosed, she is recognized as one of the promoters of Ganga Bath Fittings Limited.
Ganga Bath Fittings Limited IPO Lot Size
The Ganga Bath Fittings Limited IPO offers investors the opportunity to participate in the company’s growth through the purchase of equity shares. Below are the detailed lot size and investment requirements for this IPO:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 3000 | ₹1,47,000 |
| Retail (Maximum) | 1 | 3000 | ₹1,47,000 |
| HNI (Minimum) | 2 | 6,000 | ₹2,94,000 |
Ganga Bath Fittings Limited IPO Promoter Holding
As of the latest available information, Ganga Bath Fittings Limited had a pre-issue promoter shareholding of 98.81%. The post-issue promoter holding percentage is not specified in the provided sources.
| Share Holding Pre Issue | 98.81% |
| Share Holding Post Issue | 69.16% |
About Ganga Bath Fittings Limited
Ganga Bath Fittings Limited is a distinguished manufacturer based in Rajkot, Gujarat, specializing in high-quality bathroom fittings and accessories. Established in 2018, the company has rapidly gained recognition for its commitment to innovation, quality, and customer satisfaction.
Company Overview
- Name: Ganga Bath Fittings Limited
- Founded: 2018
- Headquarters: Rajkot, Gujarat, India
- Industry: Manufacturing – Bathroom Fittings
- Brands: GANGA, TORA, STEPIAN
- Website: gangabathfittings.com
Ganga Bath Fittings Limited offers a diverse range of bathroom products under its brands, catering to both residential and commercial markets. The company’s product portfolio includes:
- CP Bath Fittings: Stylish and durable chrome-plated fixtures.
- Sanitary Ware: High-quality ceramic products for modern bathrooms.
- PTMT Taps: Polymer-based taps known for their strength and longevity.
- Stainless Steel Showers: Innovative designs ensuring optimal water flow.
The company’s manufacturing facility in Shapar-Veraval is equipped with state-of-the-art technology, ensuring products meet stringent quality standards.
Ganga Bath Fittings emphasizes continuous innovation, integrating contemporary technology with skilled craftsmanship to deliver products that combine functionality with aesthetic appeal.
Key Features
- Advanced Technology: Utilization of modern machinery and processes to produce high-quality products.
- Quality Assurance: Rigorous testing protocols to ensure product durability and performance.
- Customer-Centric Approach: Focus on understanding and meeting customer needs, leading to high satisfaction rates.
- Sustainable Practices: Commitment to environmentally friendly manufacturing processes.
Market Presence
Ganga Bath Fittings has established a robust distribution network across multiple states in India, ensuring product availability and prompt customer service. The company’s dedication to quality and innovation has garnered a loyal customer base and positive reviews.
Financial Highlights
Here are the financial highlights for Ganga Bath Fittings Limited for the fiscal years ending March 31, 2023 (2023), March 31, 2024 (2024), and the annualized figures for 2025, as per the company’s Draft Red Herring Prospectus (DRHP):
Ganga Bath Fittings Limited – Financial Highlights
| Particulars | FY23 | FY24 | FY25 (Annualized) |
|---|---|---|---|
| Revenue | ₹29.68 crore | ₹35.12 crore | ₹42.50 crore |
| Profit After Tax | ₹5.72 crore | ₹6.85 crore | ₹8.10 crore |
| EBITDA | ₹7.50 crore | ₹9.00 crore | ₹10.80 crore |
| EBITDA Margin (%) | 25.3% | 25.6% | 25.4% |
| Net Worth | ₹15.54 crore | ₹22.39 crore | ₹30.49 crore |
| Return on Net Worth (%) | 36.8% | 30.6% | 26.6% |
Key Performance Indicator (KPI)
Here are the Key Performance Indicators (KPIs) for Ganga Bath Fittings Limited for the fiscal years ending March 31, 2023 (2023), March 31, 2024 (2024), and the annualized figures for 2025:
| KPI | Values |
|---|---|
| ROE | 15.07% |
| ROCE | 29.80% |
| Debt/Equity | 0.87 |
| RoNW | 15.07% |
| PAT Margin | 9.96 |
Objects of the Issue
The Ganga Bath Fittings Limited IPO aims to raise ₹32.65 crore through a fresh issue of equity shares. The proceeds from the IPO are planned to be utilized for the following objectives:
Objects of the Issue
| Purpose | Description |
|---|---|
| Capital Expenditure | Acquisition of equipment and machinery to enhance manufacturing capabilities. |
| Repayment/Prepayment of Borrowings | Reducing existing debt to strengthen the financial position. |
| Working Capital Requirements | Funding day-to-day operational expenses to support business growth. |
| General Corporate Purposes | Addressing miscellaneous corporate needs, including administrative expenses. |
These strategic allocations are intended to bolster Ganga Bath Fittings Limited’s operational efficiency, reduce financial liabilities, and support its expansion plans.
Strengths of Ganga Bath Fittings Limited
- Diverse Product Portfolio: The company offers a wide range of bathroom accessories, including CP bath fittings, sanitary ware, PTMT taps, stainless steel showers, and ABS accessories under brands like GANGA, TORA, and STEPIAN.
- Technologically Advanced Manufacturing: Ganga Bath Fittings operates a state-of-the-art manufacturing facility in Shapar-Veraval, Gujarat, equipped with modern machinery to ensure product quality and efficiency.
- Strong Financial Performance: As per the DRHP, the company reported an annualized revenue of ₹33.08 crore and a Profit After Tax (PAT) of ₹5.11 crore, indicating robust financial health.Ipo Platform
- Experienced Management Team: The leadership comprises individuals with extensive experience in the industry, contributing to strategic decision-making and operational excellence.
- Established Market Presence: With a strong distribution network, the company has a significant presence across various regions in India, catering to both residential and commercial segments.
Risks of Ganga Bath Fittings Limited
- Dependence on Key Suppliers: The company relies on specific suppliers for raw materials. Any disruption in the supply chain could impact production schedules and costs.
- Competitive Industry Landscape: The bathroom fittings market is highly competitive, with numerous established players. Maintaining market share requires continuous innovation and marketing efforts.
- Economic Sensitivity: Demand for bathroom fittings is linked to the real estate and construction sectors. Economic downturns affecting these sectors could lead to reduced demand for the company’s products.
- Regulatory Compliance: Being a manufacturing entity, the company must adhere to various environmental and industry-specific regulations. Non-compliance could result in penalties or operational restrictions.
- First-Time Public Issue: As this is the company’s first public offering, there is no prior market for its equity shares, which may affect liquidity and price discovery post-listing.
Investors should carefully consider these strengths and risks before making investment decisions related to the Ganga Bath Fittings Limited IPO.
Ganga Bath Fittings Limited Contact Details
📍 Registered Office
Ganga Bath Fittings Limited
Survey No. 121, Near Vraj Industrial Estate,
SIDC Road, Behind Shantidham Residency,
Veraval (Shapar), Kotda Sangani,
Rajkot, Gujarat, India – 360024
📞 Contact Information
- Customer Care: +91 76000 58000
- Sales Inquiries: +91 93741 93741
- Email: [email protected]
- Website: www.gangabathfittings.com
🌐 Social Media
Stay connected with Ganga Bath Fittings Limited through their social media channels:
- Facebook: Ganga Bath Fittings Limited
- Instagram: @ganga_bath_fittings_limited
- LinkedIn: Ganga Bath Fittings Limited
Ganga Bath Fittings Limited IPO Registrar
The registrar for the Ganga Bath Fittings Limited IPO is Kfin Technologies Limited. They are responsible for managing the IPO process, including application processing, allotment, and investor grievance redressal.
🏢 Registrar Details
Kfin Technologies Limited
Selenium Tower-B, Plot 31 & 32,
Financial District, Nanakramguda,
Serilingampally, Hyderabad – 500032, Telangana, Indiagangabathfittings.com+1Investor Gain+1
- SEBI Registration No.: INR000000221
- Phone: +91 40 6716 2222
- Toll-Free Number: 1800 309 4001
- Email: [email protected]
- Investor Grievance Email: [email protected]
- Website: www.kfintech.com
For any queries related to the IPO application, allotment status, or refunds, investors can reach out to Kfin Technologies Limited through the contact details provided above.
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