Ganesh Client Merchandise IPO: FMCG firm utilized for IPO, know the place the funds will likely be used – #INA

Ganesh Client Merchandise IPO: FMCG firm Ganesh Client Merchandise goes to launch its IPO. The corporate has filed a draft paper for this with market regulator SEBI. This firm was earlier referred to as Ganesh Grains. By this IPO, the corporate’s buyers Motilal Oswal Alternate options can promote their stake. Recent fairness shares value Rs 130 crore will likely be issued beneath the IPO. Moreover, 1.24 crore shares will likely be bought by promoters and buyers by means of Provide for Sale (OFS).

About Ganesh Client Merchandise IPO

Promoter Manish Mimani and his spouse Madhu Mimani will promote 30.91 lakh shares within the OFS. Moreover, India Enterprise Excellence Fund II and IIA, owned by Motilal Oswal Alternates (Motilal Oswal Personal Fairness), will exit Ganesh Client by promoting its whole stake of 93.5 lakh shares (25.71 per cent of pre-offer paid-up capital). Promoters maintain 74.29 p.c stake within the firm. The Kolkata-headquartered firm is prone to elevate Rs 26 crore by means of a pre-IPO placement earlier than submitting the pink herring prospectus with the Registrar of Firms.

The corporate, which competes with listed firms like Patanjali Meals, Adani Wilmar and Agro Tech Meals, will use the proceeds from the recent difficulty to repay debt, arrange a roasted chana flour and chana flour manufacturing unit in Darjeeling and for normal company functions. .

Ganesh Client Merchandise Enterprise

Ganesh Client Merchandise claims to be the third largest model of packaged entire wheat flour (atta) and the most important model of wheat-based derivatives (maida, semolina, dalia) in East India by way of worth bought in FY24. The corporate has a market share of 41 p.c in wheat-based merchandise in West Bengal.

Ganesh Client Merchandise has seen a slight decline in internet revenue in FY 2024, which has come right down to Rs 27 crore from Rs 27.1 crore within the earlier monetary yr. Nonetheless, income elevated by 24.3 per cent to Rs 759 crore from Rs 610.8 crore throughout the identical interval. Revenue stood at Rs 13.4 crore on income of Rs 189.5 crore for the three months ending June 2024. DAM Capital Advisors, IIFL Capital Companies and Motilal Oswal Funding Advisors are the service provider bankers to the general public difficulty.

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