Ganesh Consumer Products IPO allotment status: Check application, latest GMP & key dates

Ganesh Consumer Products is scheduled to finalize the basis of allotment of its shares on Thursday, September 25. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either on Friday, September 26 or latest by Weekend. The Ashish Kacholia-backed East Indian FMCG plater saw a muted response from the investors

The IPO of Ganesh Consumer Products ran for subscription between September 22 and September 24. It had offered its shares in the price band of Rs 306-322 per share with a lot size of 46 shares. The company raised a total of Rs 408.80 crore from its IPO, which included fresh share sale Rs 130 crore and an offer-for-sale (OFS) of up to 86,58,333 equity shares worth Rs 278.80 crore.

The issue was overall subscribed only 2.67 times, fetching nearly 80,000 applications. The portion for qualified-institutional bidders (QIBs) was subscribed 4.18 times. The allocation for non-institutional investors (NIIs) was booked 4.34 times. The portions for retail investors and employees were subscribed 1.45 times and 2.03 times, respectively.

The grey market premium (GMP) of Ganesh Consumer Products has seen a sharp correction due to weak bidding amid strong market sentiments. Last heard, the company was commanding a premium of only Rs 4 per share in the unofficial market, suggesting a flat listing for the investors. The GMP stood around Rs 10, when the issue was running for bidding.

Incorporated in 2000, Kolkata-based Ganesh Consumer Products is a FMCG company, a brand of wheat-based derivatives (maida, sooji, dalia) in East India. It offers a range of consumer staples, including whole wheat flour, value-added flour products (maida, sooji, besan), packaged instant food mixes, spices, ethnic snacks, and ethnic flours like singhara and bajri flour.

DAM Capital Advisors, IIFL Capital Services and Motilal Oswal Investment Advisors are the book running lead managers for the IPO of Ganesh Consumer Products, while MUFG Intime India is the registrar of the issue. Initiations of refund and credit of shares is likely to be done on Friday, September 26. Shares of the company shall be listed on both BSE and NSE on Monday, September 29.

Investors, who had bid for the issue of Ganesh Consumer Products, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Ganesh Consumer Products Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of MUFG Intime India Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.