Comrade Appliances Limited IPO Detail
Incorporated in 2017, Comrade Appliances Limited is engaged in the process of manufacturing an extensive array of Air Coolers and Electric Geysers. The company manufactures consumer durable goods and assembles various products. They offer end-to-end product solutions to their customers.
Comrade Appliances operate under both, Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) business models.
Under the OEM model, they manufacture and supply products basis designs developed by their customers, later these products are sold under the customer's brand name. Under the ODM model, along with manufacturing, Comrade Appliances Limited also conceptualize and designs the products which are then marketed to the customers' prospective customers under their brands.
Presently, the company's product portfolio of consumer goods consists of:
- Air Coolers
- Electric Geysers
The company's products are marketed, manufactured, and sold under the brand name "Comrade".
The company has a manufacturing facility located at Palghar admeasuring 66,322 Sq. Ft.
Company Promoters
M/s Troupe Technologies Private Limited, Mr. Khursheed Alam and Mr. Mehboob AlamIPO Details
| IPO Opening Date | May 31, 2023 |
| IPO Closing Date | Jun 05, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹52 - 54 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹12.30 Cr |
| Fresh Issue | ₹12.30 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Tentative Timetable
The Comrade Appliances Limited IPO open date is May 31, 2023, and the close date is Jun 05, 2023. The issue may list on Jun 13, 2023.
| IPO Open Date | May 31, 2023 |
| IPO Close Date | Jun 05, 2023 |
| Basis of Allotment Date | Jun 08, 2023 |
| Initiation of Refunds | Jun 09, 2023 |
| Credit of Shares to Demat Account | Jun 12, 2023 |
| IPO Listing Date | Jun 13, 2023 |
IPO Lot Size
The Comrade Appliances Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹108000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹108000 |
| Maximum | 1 | 2000 | ₹108000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.35% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 1,678.98 | 2,162.29 | 41.80 |
| 31-Mar-21 | 3,140.65 | 2,603.85 | 20.21 |
| 31-Mar-22 | 2,527.31 | 2,973.28 | 38.75 |
| 31-Aug-22 | 2,272.21 | 1,559.15 | 100.45 |
Objects of the Issue:
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objectives:
- Working Capital Requirements
- General Corporate Purposes
Comrade Appliances Limited IPO Registrar:
Bigshare Services Pvt Ltd
Comrade Appliances Limited IPO Lead Manager(s):
Gretex Corporate Services Pvt Ltd
Company Contact Information:
Comrade Appliances Limited
Shop No. 39, Ground Level I,
Dewan Centre, 183-186, S.V. Road, Jogeshwari West,
Mumbai - 400102
