Ganesh Consumer Products IPO

About Ganesh Consumer Products Limited IPO

Ganesh Consumer Products Ltd will soon launch its IPO, which comprises a fresh issue and an offer for sale. While the fresh issue size consists of 40,37,267 equity shares, aggregating up to ₹130 crore, the offer for sale consists of up to 8,658,333 equity shares aggregating up to ₹278.80 crore. The total issue size is ₹408.80 crore. The price band is ₹306-₹322 per share and the lot size is 46. The IPO opens on September 22, 2025 and closes on September 24, 2025.

The listing date is on or around September 29, 2025 and the allotment date is on or around September 25, 2025. The credit of shares to the Demat account will take place on or around September 26, 2025, while the initiation of refund will take place on September 26, 2025.

Ganesh Consumer Products Ltd is a FMCG company headquartered in Kolkata, West Bengal and in terms of value sold in Fiscal 2025, it’s the third largest brand of packaged whole wheat flour (atta) and largest brand in wheat-based derivatives (maida, sooji, dalia) in East India.

Objectives of Ganesh Consumer Products Limited IPO

The company proposes to utilise the IPO proceeds for:

• Prepayment and/or repayment of all or a portion of certain outstanding borrowings availed by the company
  
• Funding capital expenditure for the setting up of a roasted gram flour and gram flour manufacturing unit in Darjeeling, West Bengal
  
• General corporate purposes
  

Industry Outlook

The overall packaged food market in East India was estimated at ₹1,56,444 crores for FY2025 and is expected to reach ₹2,81,588 crores for FY2030, growing at a CAGR of 12.5%. Packaged Staples segment, which is the dominant segment in this market, is expected to grow at a CAGR of 11% in the same period in the East India market.

The packaged flour market (East India) within the packaged staple segment (East India) was estimated at ₹5,765 crore for FY2025 and is projected to grow at a CAGR of ~16.1% by FY2030.

Company Information

Ganesh Consumer Products Ltd is a FMCG company headquartered in Kolkata, West Bengal and in terms of value sold in Fiscal 2025, it’s the third largest brand of packaged whole wheat flour (atta) and largest brand in wheat-based derivatives (maida, sooji, dalia) in East India.

In East India, in terms of value for Fiscal 2025, the company is also one of the top two players for packaged sattu and besan (which are gram-based flour products) with a share ~43.4% (sattu) and ~4.9% (besan) in East India market for respective products, with a growing presence in various consumer staple categories such as spices and ethnic snacks.

Strengths of Ganesh Consumer Products Limited IPO

• Largest brand of packaged flour in East India
  
• Diversified and continuously expanding product portfolio
  
• Well-established and widespread multichannel distributor network and customer reach
  
• Strategically located advanced manufacturing facilities with stringent quality standards
  
• Well experienced promoter assisted with an experienced management team
  
• Track record of healthy financial performance
  

Risks of Ganesh Consumer Products Limited IPO

• Inadequate or interrupted supply and price fluctuation of raw materials and packaging materials could adversely affect business
  
• Any increase in the cost of, or a shortfall in the availability of, raw materials due to such change in Government guidelines could have an adverse effect on business and results of operations
  
• Reduction in demand or in the production of wheat flour and wheat and gram-based value-added flour products could adversely affect results of operations
  
• Adverse developments affecting our operations in West Bengal could have an adverse effect on business
  
• Slowdown or interruption to manufacturing operations may have an adverse impact on business and financial performance
  
• Inability to expand or effectively manage distribution network may have an adverse effect on business, results of operations, financial condition and cash flows
  
• Inability to accurately forecast demand or price for products and manage inventory may have an adverse effect on business, results of operations and financial condition
  
• Emergence of modern trade and e-commerce channels may adversely affect the company’s pricing ability
  

Anchor Investor Bidding Date TBA

IPO Registrar and Book Running Lead Manager

Link Intime India Private Limited is the registrar of the Ganesh Consumers Product Limited IPO. The book running lead managers are:

• DAM Capital Advisors Limited
  
• IIFL Capital Services Limited
  
• Motilal Oswal Investment Advisors Limited
  

Business Model

As on March 31, 2025, the product portfolio of Ganesh Consumer Products Ltd comprised of 42 products with 232 SKUs across various product categories

The company offers a range of consumer staples comprising of (i) whole wheat flour (atta), (ii) wheat and gram-based value-added flour products (including, refined wheat flour (maida), semolina flour (sooji), roasted gram flour (sattu), gram flour (besan), cracked wheat (dalia) amongst others) and (iii) other emerging food products including packaged instant food mixes (such as khaman dhokla and bela kachori), spices (whole, CTC powder (chilli, turmeric and coriander) and blended), ethnic snacks (such as (including bhujia and chanachur) and ethnic flours such as singhara flour, pearl millet (bajri) flour, etc.

Company Growth Trajectory

The revenue from operations of Ganesh Consumer Products Ltd, which stood at ₹610.751 crores in FY 23 grew to ₹850.462 crores in FY 25. The company’s gross profit grew from ₹139.361 crores in FY 23 to ₹189.062 crores in FY 25.

It has consistently sought to evolve its product portfolio, resulting in the launch of 11 products (spices, ethnic snacks, variants of sattu like chocolate sattu, jal jeera sattu, etc.), along with 94 SKUs across its product categories, over the past three financial years. Diversified product portfolio coupled with well-established and widespread multichannel distributor network has helped the company grow over the years.

Market Position

The business of Ganesh Consumer Products Ltd is centred around its B2C operations, wherein its products directly reach its consumers through its extensive distribution network. As on March 31, 2025, it serviced its general trade channel with over 28 C&F agents, 9 super stockists and 972 distributors, catering to over 70,000 retail outlets. Its network in the general trade channel is spread over the states of West Bengal, Jharkhand, Bihar, Odisha and Assam.

In terms of value sold, Ganesh Consumer Products Ltd is one of the largest brands of wheat-based and gram-based derivatives in East India in Fiscal 2025 accounting for approximately 12.6% of the East India market share for packaged wheat and gram-based products. In addition, it’s the third largest brand in terms of value sold in Fiscal 2025, of packaged wheat flour in East India, with a share of approximately 8%.

Further, in terms of market share by value sold in Fiscal 2025, the company is the largest player for packaged sooji, dalia, and maida (which are wheat-based flour products) in East India with a market share of 31.2% (sooji and dalia), 16.4% (maida) in East India market for respective products.

How to Check the Allotment Status of Ganesh Consumer IPO?

You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar Link Intime India Private Ltd. To check the status on the BSE website:

• Visit the BSE website
  
• Click on “Investor Services” and choose “Application Status Check”
  
• Choose the issue type — Equity or Debt
  
• Select the Issue Name from the drop-down. The issue name is the company’s name, which is Ganesh Consumers Product Limited
  
• Enter your application number or PAN number
  
• Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status
  

To check status on the website of Link Intime Private Ltd:

• Visit the website of Link Intime Private Ltd
  
• Choose ‘Public Issues’ from Investor Services dropdown
  
• Choose the name of the company from ‘Select Company’ dropdown
  
• Enter any of these - PAN Number, Application Number, DP/Client ID, Account Number / IFSC
  
• Click on Submit to check the status
  

How to Apply for Ganesh Consumer Products Limited IPO?

Here are the steps to apply for Ganesh Consumer Products Limited IPO:

• Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
  
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
  
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.