Ganesh Consumer Products IPO is a book build issue of ₹408.80 crore. The issue is a combination of fresh issue of 0.40 crore shares aggregating to ₹130.00 crore and offer for sale of 0.87 crore shares aggregating to ₹278.80 crore.
The IPO opens for subscription on September 22, 2025, to September 24, 2025.
The basis of allotment is expected to be finalised on September 25, 2025. The shares are proposed to be listed on the BSE and NSE, with a tentative listing date of September 29, 2025. The issue price for Ganesh Consumer Products IPO has been fixed at ₹306 to ₹322 per share.
The lot size is set at 46 shares. A retail investor is required to make a minimum investment of ₹14,812 for 46 shares. For High Net-worth Individuals (HNIs), the minimum application is for 14 lots or 644 shares, amounting to ₹2,07,368.
Dam Capital Advisors Ltd is the book running lead manager and MUFG Intime India Pvt. Ltd is the registrar of the issue. Refer to Ganesh Consumer Products IPO RHP for complete details.
Ganesh Consumer Products IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Upto ₹600.00 million will be used for prepayment and/or repayment of certain outstanding borrowings availed by the company.
- Upto ₹450.00 million will be allocated towards funding capital expenditure for setting up a roasted gram flour and gram flour manufacturing unit in Darjeeling, West Bengal.
- The balance amount will be used for general corporate purposes.
About Ganesh Consumer Products Limited
Ganesh Consumer Products, headquartered in Kolkata, West Bengal, is a leading FMCG player with a strong presence in East India. In terms of value sold in Fiscal 2025, the company ranked as the third-largest brand of packaged whole wheat flour (atta) and the largest brand in wheat-based derivatives such as maida, sooji, and dalia in the region.
It is also one of the top two players in gram-based flour products, with a market share of approximately 43.4% in packaged sattu and 4.9% in packaged besan. Alongside its leadership in flour products, Ganesh Consumer Products has been expanding into other consumer staple categories, including spices and ethnic snacks, further strengthening its market presence.
As of March 31, 2025, the company maintained a robust distribution network, servicing the general trade channel through 28 C&F agents, 9 super stockists, and 972 distributors. Its portfolio consisted of 42 products with 232 SKUs across multiple categories. The company’s offerings include whole wheat flour, a wide range of wheat and gram-based value-added flours such as refined wheat flour, semolina, roasted gram flour, gram flour, and cracked wheat, as well as emerging food products.
These include packaged instant food mixes like khaman dhokla and bela kachori, spices in whole and blended forms, ethnic snacks such as bhujia and chanachur, and ethnic flours like singhara and pearl millet flour.
All products are sold under the flagship brand “Ganesh,” which has become a household name and serves as the company’s primary identity in the market.
Over the years, Ganesh has expanded its portfolio through brand extensions designed to meet diverse consumer needs and preferences. Demonstrating a commitment to continuous evolution, the company has launched 11 products, including spices, ethnic snacks, and innovative sattu variants like chocolate sattu and jal jeera sattu, along with 94 new SKUs in the last three financial years.
Industry Outlook
- The packaged snacks market is projected to grow from ₹82,262 crore in FY2025 to ₹1,51,563 crore by FY2030 at a CAGR of ~13.0%.
- The packaged spices market is expected to increase from ₹37,760 crore in FY2025 to ₹67,442 crore by FY2030, reflecting a CAGR of ~12.3%.
- The packaged ethnic flour market will expand from ₹1,555 crore in FY2025 to ₹2,802 crore in FY2030, growing at a CAGR of ~12.5%.
- The total wheat flour and derivatives market is set to rise from ₹1,85,149 crore in FY2025 to ₹2,53,671 crore by FY2030, at a CAGR of 6.5%.
How To Apply for the Ganesh Consumer Products IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Ganesh Consumer Products IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Ganesh Consumer Products IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Ganesh Consumer Products Limited
Registered office: 88, Burtolla Street, Kolkata – 700 007, West Bengal, India
Phone: +91 336 6336633
E-mail: investors@ganeshconsumer.com
Ganesh Consumer Products IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares Offered |
Not more than 50% of the Net Offer |
|
Retail Shares Offered |
Not less than 35.00% of the Net Offer |
|
NII Shares Offered |
Not more than 15% of the Net Offer |
Ganesh Consumer Products IPO Lot Size Details
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
1 |
46 |
₹14,812 |
|
Individual investors (Retail) (Max) |
13 |
598 |
₹1,92,556 |
|
HNI (Min) |
14 |
644 |
₹2,07,368 |
Ganesh Consumer Products IPO Promoter Holding
Purushottam Das Mimani, Manish Mimani, Madhu Mimani, Manish Mimani (HUF) and Srivaru Agro Private Limited are the promoters of the company
|
Share Holding Pre-Issue |
75.3% |
|
Share Holding Post Issue  |
64.07% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Ganesh Consumer Products IPO
|
KPI |
Value |
|
RoCE (%) |
19.81 |
|
Debt/Equity  |
0.22 |
|
RoNW (%) |
15.81 |
|
PAT Margin (%) |
4.17 |
|
EBITDA Margin (%) |
8.61 |
Ganesh Consumer Products IPO Prospectus
Ganesh Consumer Products IPO Registrar and Lead Managers
Ganesh Consumer Products IPO Lead Managers
- Dam Capital Advisors Ltd
- IIFL Capital Services Ltd
- Motilal Oswal Investment Advisors Ltd
Registrar for Ganesh Consumer Products IPO
MUFG Intime India Pvt Ltd
- Phone: +91-22-4918 6270
- Email: ipo@linkintime.co.in
- Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Financial Performance of Ganesh Consumer Products Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
|---|---|---|
| Revenue from Operations (₹ million) | 8,504.62 | 7,590.73 |
| Gross Profit (₹ million) | 1,890.62 | 1,622.65 |
| EBITDA (₹ million) | 732.38 | 633.54 |
| EBITDA Margin (%) | 8.61 | 8.35 |
| Profit After Tax (₹ million) | 354.32 | 269.92 |
| PAT Margin (%) | 4.17 | 3.56 |
Know before investing
Strengths
8Largest brand of packaged flour in East India with ~12.6% market share in wheat- and gram-based derivatives, establishing a strong regional dominance.
Diversified and expanding product portfolio across staples, ethnic flours, snacks, spices, and instant mixes, catering to varied consumer preferences.
Robust multichannel distribution network spanning general trade, modern trade, and e-commerce, ensuring wide consumer reach and accessibility.
Strategically located advanced manufacturing facilities across Kolkata, Varanasi, Agra, and Hyderabad, enabling efficiency and consistent quality.
Strong leadership under Managing Director Manish Mimani, supported by an experienced management team with decades of FMCG expertise.
Opportunity to expand geographical presence and deepen B2C operations, leveraging brand equity in East India to grow across new regions.
Continuous product innovation and portfolio enhancement, with potential to capture growth in emerging categories such as spices, ethnic snacks, and instant mixes.
Ongoing technology-driven process optimization and cost efficiency initiatives, strengthening competitiveness in the rapidly evolving FMCG sector.
Risks
8Heavy dependence on raw materials like wheat and gram makes the company vulnerable to supply disruptions, price fluctuations, and seasonal variations.
Changes in government guidelines for procurement or stocking of wheat and gram can directly affect raw material prices, availability, and margins.
Significant reliance on whole wheat flour (atta) and wheat- and gram-based flour products for B2C revenue exposes the company to concentration risk if demand falls.
High dependence on East India, especially West Bengal, as the core market creates geographical concentration risk. Any adverse regional developments could severely impact sales.
Slowdown, interruption, or under-utilisation of manufacturing facilities can reduce efficiency and profitability.
Risks of improper handling, storage, or contamination of products may lead to regulatory penalties, product recalls, reputational damage, and financial losses.
The business is highly dependent on its distribution network, and any disruption or inability to expand/manage it could hinder growth and cash flows.
Inaccurate demand forecasting or poor inventory management could result in overstocking, understocking, or wastage, affecting revenues and profitability.
Ganesh Consumer Products Limited Peer Comparison
| Company | Revenue (₹ in million) (March 31, 2025) | Basic EPS (₹) | P/E Ratio | Return on Net Worth (%) |
|---|---|---|---|---|
| Ganesh Consumer Products Limited | 8,504.62 | 9.74 | NA | 15.81 |
| Patanjali Foods Limited | 341,569.67 | 35.94 | 50.15 | 11.96 |
| AWL Agri Business Limited (Adani Wilmar) | 636,722.40 | 9.44 | 27.15 | 13.12 |
