Ganga Bath Fittings is engaged in the business of manufacturing and supplying Bathroom Accessories including but not limited to bath fittings items such as CP taps and their parts, showers, bath accessories, Sanitary wear, ABS Shower, ABS Health faucet, ABS Taps, ABS Accessories, PTMT Taps, Door Handles, Bathroom Vanities, Bathroom Sinks, SS Showers, Shower Drains, SS Channel Drainer etc.

Ganga Bath Fittings, an Book Built Issue Issue amounting to ₹ 32.64 Crores, consisting an fresh issue of 66.63 lakh shares. The subscription period for the Ganga Bath Fittings IPO opens on June 04, 2025, and closes on June 06, 2025. The allotment is expected to be finalized on or about Monday, June 09, 2025, and the shares will be listed on the NSE SME with a tentative listing date set on or about Wednesday, June 11, 2025.

The Share Price Band of Ganga Bath Fittings IPO is set at ₹ 46 to ₹ 49 per equity share. The Market Capitalisation of the Ganga Bath Fittings Limited at IPO price of ₹ 49 per equity share will be ₹ 108.81 Crores. The lot size of the IPO is 3,000 shares. Retail investors are required to invest a minimum of ₹ 1,47,000, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (6,000 shares), amounting to ₹ 2,94,000.

Jawa Capital Services Private Limited is the book running lead manager of the Ganga Bath Fittings IPO, while Kfin Technologies Limited is the registrar for the issue. Rikhav Securities Limited is the Market Maker for Ganga Bath Fittings IPO.

Ganga Bath Fittings Limited IPO GMP Today
The Grey Market Premium of Ganga Bath Fittings Limited IPO is expected to be ₹ 0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only

Ganga Bath Fittings Limited IPO Live Subscription Status Today: Real-Time Update
As of 06:00 PM on 06 June, 2025, the Ganga Bath Fittings Limited IPO live subscription status shows that the IPO subscribed 1.61 times on Final Day of subscription period. Check the Ganga Bath Fittings IPO Live Subscription Status Today at NSE.

Ganga Bath Fittings Limited Day Wise IPO GMP Trend

Date	IPO Price	Expected Listing Price	GMP	Last Updated
30 May 2025	₹ 49	₹ 49	₹ 0 (0.00%)	02:00 PM; 30 May 2025

Ganga Bath Fittings Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Ganga Bath Fittings IPO allotment date is 09 June, 2025, Monday. Ganga Bath Fittings IPO Allotment will be out on 9th June, 2025 and will be live on Registrar Website from the allotment date. Check Ganga Bath Fittings IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Ganga Bath Fittings Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Ganga Bath Fittings Limited IPO
Ganga Bath Fittings proposes to utilise the Net Proceeds towards the following objects: 
a. ₹ 2,013.32 Lakh is required for capital Expenditure towards purchase of equipment/machineries, etc.
b. ₹ 532.66 Lakh is required for repayment/prepayment of certain borrowings availed by the Company;
c. ₹ 270.10 Lakh is required for Funding working capital requirements; and
d. General Corporate Purpose

Refer to Ganga Bath Fittings Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

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About Ganga Bath Fittings Limited

Business Overview

Ganga Bath Fittings Limited, formerly Ganga Plast Industries LLP, is a public limited company engaged in the manufacturing and supply of a wide range of bathroom fittings and accessories. The company operates across three primary business verticals—own-brand sales, contract manufacturing for OEMs, and sale of traded sanitaryware under its in-house brand.

Company Evolution & Structure:

• Founded in 2018 as a partnership firm named Ganga Plast Industries, engaged in the production of ABS Showers, Health Faucets, Taps, and Accessories.

• Converted to LLP in 2020 to streamline operations and support business expansion as Ganga Plast Industries LLP.

• Incorporated as a public limited company on May 22, 2024, under the name Ganga Plast Industries Limited.

• Renamed to Ganga Bath Fittings Limited following a special shareholder resolution on June 7, 2024, and a fresh certificate issued on July 3, 2024.

Business Consolidation:

• Acquired business operations of:

  1. Ganga Industries – engaged in manufacturing bath fittings and parts.

  2. Ganga Bathing Solution – engaged in manufacturing showers and accessories.

• Ganga Bathing Solution was dissolved post-acquisition.

• Ganga Industries continues to exist, holding ownership of the premises used as the registered office and manufacturing unit (GI Unit), now leased to the company.

Core Business Activities:

• Manufacturing and supply of bathroom accessories including CP taps, showers, sanitaryware, ABS and PTMT taps, SS channel drainers, and door handles.

• Operations span three business segments:

  1. Own-Brand Sales: Products sold under proprietary brands Ganga, Glimpse, Stepian, and Tora.

  2. OEM Contract Manufacturing: Producing fittings and accessories for third-party brands.

  3. Traded Goods: Procurement and sale of sanitaryware branded as Ganga.

This structured transition and multi-vertical strategy position Ganga Bath Fittings Limited as a diversified player in the Indian sanitary and bathroom accessories industry. As on 31st December, 2025, the Company has 2 Executive Directors and 123 employees on its payroll. The Banker to the Compnay is Axis Bank Limited.

Industry Analysis

Overview of the Bath Fittings and Sanitary Ware Industry in India

The Indian sanitary ware market was valued at USD 318.8 million in 2023 and is projected to grow at a CAGR of 7.9% through 2029, driven by rapid urbanization, rising hygiene awareness, and strong infrastructure development. As part of the broader construction and home improvement sector, the market includes a diverse range of products such as toilets, washbasins, faucets, showers, and accessories for residential, commercial, and institutional use.

Urban migration continues to fuel demand for modern housing and commercial spaces, thereby increasing the need for aesthetically appealing and functional sanitary solutions. Government initiatives like "Swachh Bharat Abhiyan" (Clean India Mission) have further emphasized sanitation and hygiene, accelerating the adoption of modern bathroom fixtures.

Consumers are increasingly prioritizing comfort, design, and water efficiency, prompting a shift towards premium and technology-integrated products. The booming real estate and infrastructure sectors, including airports, hospitals, hotels, and educational institutions, have also contributed to the market’s growth by demanding high-quality fittings tailored to diverse needs.

However, challenges persist. Price sensitivity remains a major concern, especially in budget segments, where affordability often outweighs product features and design. The competitive landscape, with numerous domestic and global brands, exerts pressure on pricing and margins. Additionally, water scarcity and lack of awareness have slowed the adoption of water-efficient solutions, while infrastructure limitations in certain regions and COVID-19-related supply chain disruptions have posed operational hurdles.

Despite these challenges, the industry is poised for sustained growth. With rising consumer awareness, increasing urbanization, and supportive government policies, the market is expected to evolve with a strong focus on sustainability, water conservation, and innovation. These trends are likely to create significant opportunities for both domestic manufacturers and international entrants.

Business Strengths

1. Experienced Promoters and Management
The promoters and management team bring over three decades of experience in the bath fittings industry, driving both strategic decisions and daily operations. Their leadership has significantly contributed to the company’s growth and financial performance, supported by a motivated and skilled workforce.

2. Diverse Product Portfolio
The company offers an extensive product range with 250 SKUs in the GI unit, 32 in the GBS unit, and 150 in the GPI segment. The portfolio includes CP taps, showers, sanitary ware, ABS and PTMT taps, door handles, vanities, sinks, and drainage solutions—catering to a broad customer base across India.

3. Robust Distribution and Client Network
A long-standing network of over 2,500 distributors enables deep market penetration and customer engagement. Strong relationships with distributors, clients, and suppliers have been cultivated over time, especially under the direct involvement of Promoter Director Mr. Jimmy Tusharkumar Tilva.

4. Commitment to Quality
Holding ISO 9001:2015 certification, the company maintains rigorous quality standards across its product line. Continuous improvement in production processes ensures delivery of globally benchmarked products at competitive prices.

5. Established Legacy
Operational since 2011, the business has evolved through consistent diversification and product innovation. The promoters have built enduring goodwill and trust across the value chain, fostering sustained business growth.

6. Strong R&D Capabilities
A dedicated R&D team focuses on innovation and customization, developing new and complex components to meet dynamic market requirements within competitive timelines

Business Strategies

1. Expansion of Geographical Presence
Currently based in Rajkot, Gujarat, the company aims to expand across India and into international markets. Plans include participation in overseas exhibitions and development of global distribution channels to boost client acquisition and revenue growth.

2. Product Portfolio Diversification
The strategy includes expanding the product line through advanced electronic integration and innovative designs tailored to market demand. A broader product range is intended to strengthen customer retention and attract new clients from untapped regions.

3. Enhanced Working Capital Management
To support extended credit offerings and scale operations, the company plans to utilize IPO proceeds to strengthen liquidity and working capital. This approach is expected to improve margins and reduce reliance on debt.

4. Leveraging Market Expertise and Relationships
Strong customer relationships and skilled personnel form the foundation for growth. Continued focus on timely order fulfillment, relationship renewal, and client satisfaction is expected to drive customer base expansion and long-term business sustainability.

Business Risk Factors and Concerns

1. Raw Material Price Volatility:
Fluctuations in the prices of key raw materials—brass (for GI unit), steel (GBS unit), and plastic (GPI unit)—pose a major risk. Prices are influenced by global demand-supply dynamics, trade policies, and input availability. For instance, brass prices are tied to copper and zinc trends. These cost changes significantly impact financial performance, with raw material expenses comprising up to 141.44% of income in certain periods.

2. Procurement Risk Due to Geographic Concentration:
Approximately 87% of raw materials are sourced from suppliers in Gujarat. Any economic, regulatory, or natural disruptions in this region may hinder material availability and procurement efficiency, directly affecting production and revenue stability.

3. Manufacturing and Market Concentration in Gujarat:
All manufacturing units are located in Rajkot, Gujarat, and over 45% of revenue is generated within the region. Such geographical concentration increases vulnerability to regional risks like competition, policy changes, and demographic shifts.

4. Workforce Data Discrepancies:
Differences exist between employee counts reported under factory licenses and those submitted to the Employees' Provident Fund Organization (EPFO). For instance, the licensed workforce for Ganga Plast Industries LLP is 50, but reported numbers may vary due to reporting period differences or administrative inconsistencies, potentially raising compliance concerns.

5.Operational Hazards:
Production involves high-risk processes such as brass scrap melting, exposing facilities to dangers like explosions, fires, mechanical failures, and hazardous chemical releases. These incidents could disrupt production, cause injuries, increase costs, and impair customer delivery capabilities.

Ganga Bath Fittings operates in a highly material-dependent and geographically concentrated environment, exposing it to multiple operational and regulatory risks. Key challenges include raw material price volatility, regional dependence for procurement and manufacturing, workforce data inconsistencies, and safety hazards associated with its production processes.