Ganesh Consumer Product has received markets regulator Securities and Exchange Board of India’s (SEBI's) clearance to raise funds through initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth up to Rs 130 crore and an offer-for-sale (OFS) of up to 12.44 million shares by promoter and investor-selling shareholders.
The company plans to use the net proceeds from the fresh issue for prepayment or repayment of outstanding borrowings to the tune of Rs 50 crore, capital expenditure for setting up a roasted gram flour and gram flour manufacturing unit in Darjeeling, and general corporate purposes.
Ganesh Consumer Products, established in 1936, is a market leader in packaged wheat-based products. The company has a diversified portfolio of 42 products with 215 SKUs and operates through a distribution network spanning over 70,000 retail outlets, modern trade stores, and e-commerce platforms.
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