City based fast moving consumer goods company Ganesh Consumer Products has filed draft prospectus with Sebi for its initial public offer (IPO).

The company is looking to raise ₹130 crore through fresh issue of shares and an offer-for-sale up to 12.44 million equity shares by promoters Manish Mimani and Madhu Mimani and investor selling shareholders India Business Excellence Fund II and India Business Excellence Fund IIA.

The company, in consultation with the book running lead managers, may consider a further issue of equity shares through a private placement, preferential allotment or any other method aggregating up to ₹26 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under this will be reduced from the fresh issue.

The company in its draft prospectus has said that the proceeds from the fresh issue to the extent of ₹50 crore will be used for prepayment and/or repayment of all or a portion of certain outstanding borrowings of the company.

Further ₹50 crore will be used for funding capital expenditure for the setting up of a roasted gram flour and gram flour manufacturing unit in Darjeeling.

The offer is being made through the book-building process, where not more than 50 per cent of the net offer is allocated to qualified institutional buyers, and not less than 15 per cent and 35 per cent of the net offer is assigned to non-institutional and retail individual bidders, respectively.

Ganesh Consumer Products Limited’s revenue from operations grew at a compounded annual growth rate of 29.16 per cent from ₹455 crore in FY22 to ₹759.07 crore in FY24. Profit in FY24 was at ₹26.9 crore against ₹27.1 crore in FY22.