In 2025, India’s IPO market continues to see strong activity, with several FMCG and consumer-focused companies entering the capital markets. Ganesh Consumer Products Limited IPO is set to open on September 22, 2025, giving investors an opportunity to participate in the growth of a well-established FMCG company.
About Ganesh Consumer Products Ltd.
Incorporated in 2000 and headquartered in Kolkata, West Bengal, Ganesh Consumer Products Limited is a prominent player in the FMCG sector specializing in wheat-based derivatives (maida, sooji, dalia) and other packaged food products.
The company’s flagship brand, “Ganesh”, offers a wide range of products, including:
- Whole Wheat Flour (Atta): Sharbati Atta, White Atta, Multigrain Atta, Diabetes Control Atta, Gluten Free Atta
- Value-Added Flours: Bakery Maida, Super Fine Maida, Tandoori Atta, Rumali Atta
- Roasted Gram Flour (Sattu): Multigrain Sattu, Sweet Sattu, Jaljeera Sattu, Chocolate Sattu
- Spices: Turmeric Powder, Chilli Powder, Coriander Powder, Cumin Powder, and blended spice mixes
The company also generates revenue through B2B sales to FMCG companies, HoReCa businesses, and small retailers, and by-product sales like wheat bran for cattle feed. Its products are distributed through 28 C&F agents, 9 super stockists, and 972 distributors across India.
As of March 31, 2025, the company employed 206 permanent employees, with a portfolio of 42 products and 232 SKUs across its categories.
Competitive Strengths:
- Largest packaged flour brand in East India
- Diversified product portfolio with continuous innovation
- Well-established multi-channel distribution network
- Strategically located manufacturing facilities with stringent quality standards
- Experienced promoters and professional management team
- Consistent financial performance with growth in revenues and margins
Ganesh Consumer Products IPO Details
The Ganesh Consumer Products IPO is a book building issue of ₹408.80 crore, comprising fresh issue of 0.40 crore shares (₹130.00 Cr) and offer for sale of 0.87 crore shares (₹278.80 Cr).
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Sep 22, 2025 |
| IPO Close Date | Sep 24, 2025 |
| Tentative Allotment | Sep 25, 2025 |
| Initiation of Refunds | Sep 26, 2025 |
| Credit of Shares to Demat | Sep 26, 2025 |
| Tentative Listing Date | Sep 29, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 24, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹10 per share |
| Issue Price Band | ₹306 – ₹322 per share |
| Lot Size | 46 shares |
| Total Issue Size | 1.27 crore shares (₹408.80 Cr) |
| Fresh Issue | 40,37,267 shares (₹130.00 Cr) |
| Offer for Sale | 86,58,333 shares (₹278.80 Cr) |
| Employee Discount | ₹30 per share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 3.64 crore shares |
| Shareholding Post-Issue | 4.04 crore shares |
Investor Category Reservation:
| Category | Allocation |
| QIB | Not more than 50% of Net Offer |
| Retail | Not less than 35% of Net Offer |
| NII | Not more than 15% of Net Offer |
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 46 | ₹14,812 |
| Retail (Max) | 13 | 598 | ₹1,92,556 |
| S-HNI (Min) | 14 | 644 | ₹2,07,368 |
| S-HNI (Max) | 67 | 3,082 | ₹9,92,404 |
| B-HNI (Min) | 68 | 3,128 | ₹10,07,216 |
Promoter Holding:
Promoters include Purushottam Das Mimani, Manish Mimani, Madhu Mimani, Manish Mimani (HUF), and Srivaru Agro Pvt Ltd.
- Pre-IPO: 75.3%
- Post-IPO: 64.07%
Book Running Lead Manager: Dam Capital Advisors Ltd.
Registrar: MUFG Intime India Pvt. Ltd.
Ganesh Consumer Products Ltd.: Financials
Financial Highlights (₹ Crore):
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 341.74 | 308.64 | 343.30 |
| Total Income | 855.16 | 765.26 | 614.78 |
| Profit After Tax | 35.43 | 26.99 | 27.10 |
| EBITDA | 73.24 | 63.35 | 56.14 |
| Net Worth | 224.13 | 218.65 | 201.62 |
| Reserves & Surplus | 190.47 | 184.98 | 167.95 |
| Total Borrowing | 50.00 | 38.29 | 86.13 |
Key Performance Indicators (FY2025):
- Market Cap: ₹1,301.22 Cr
- ROE: 15.81%
- ROCE: 19.81%
- Debt/Equity: 0.22
- RoNW: 15.81%
- PAT Margin: 4.17%
- EBITDA Margin: 8.61%
- Price to Book Value: 5.23
- EPS Pre-IPO: ₹9.74 | Post-IPO: ₹8.77
- P/E Pre-IPO: 33.06x | Post-IPO: 36.72x
Ganesh Consumer Products IPO Objectives
The IPO proceeds are proposed to be utilised as follows:
| Object | Amount (₹ Cr) |
| Prepayment/repayment of borrowings | 60.00 |
| Capital expenditure for roasted gram & gram flour unit in Darjeeling, WB | 45.00 |
| General corporate purposes | Balance |
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Industry Outlook
The Indian FMCG and packaged food market continues to grow, driven by:
- Rising consumption of packaged wheat and flour products in East India
- Expansion of organized retail and B2B distribution networks
- Increased consumer demand for value-added and instant food products
- Growing awareness of quality, hygiene, and brand preference
Ganesh Consumer Products’ diversified portfolio, strong distribution network, and brand recognition position it well to benefit from these trends.
Conclusion
Ganesh Consumer Products Ltd. offers investors a strong opportunity in the East Indian packaged flour and FMCG segment. Its established brand, diversified portfolio, robust distribution network, and consistent financial growth make it an attractive candidate. Investors should consider risks such as fluctuations in raw material prices, competition from other FMCG brands, and dependence on certain key markets.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
