Greenchef Appliances Limited IPO Detail
Incorporated in 2010, Greenchef Appliances Limited is engaged in the business of manufacturing and marketing kitchen appliances under the brand name Greenchef.
Greenchef's kitchen appliances include Gas Stoves, Pressure Cookers, Mixer Grinders, Wet Grinders, Electric Rice Cooker, Induction Cooktops, Non-stick Cookwares like Tawa, Fry Pan, Kadai, Biriyani Pot, Tadka Pan, Paniyarakkal, Appamchetty, Kettles, Hose Pipes, Gas Cylinder Trolley and Spin Mop, etc.
The company sells its products through offline and online platforms such as Flipkart India Private Limited, Jiomart, Bigbasket, and Amazon Seller Services Private Limited.
The company also provides after-sales services in relation to the products. These services include repairs and maintenance of sold goods and installation services. As of December 31, 2022, Greenchef's service team comprises 130 service technicians across 13 states. Further, the company has also appointed 107 authorized service providers across 15 states.
Greenchef Appliances have three manufacturing facilities located in Bengaluru, Karnataka, and one manufacturing facility located at Parwanoo, Himachal Pradesh. The Parwanoo facility is focused on manufacturing Gas Stoves and hose pipes for which the company has also entered into a marketing agreement with oil companies like Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, and Bharat Petroleum Corporation Limited.
As of December 31, 2022, the manufacturing facilities are well connected with five strategically located Carrying and Forwarding (C&F) agents in the state of Rajasthan Maharashtra, Uttar Pradesh, Gujarat, and Bihar. Additionally, as on December 31, 2022, the company has around 450 distributors in 22 states and 3 union territories of India.
Company Promoters
Mr. Sukhlal Jain, Mr. Praveen Kumar Sukhlal Jain, Mr. Vikas Kumar Sukhlal Jain, Mr. Hitesh Kumar Jain, and Mr. Vikas Kumar Sukhlal Jain HUF are the company promoters.IPO Details
| IPO Opening Date | Jun 23, 2023 |
| IPO Closing Date | Jun 27, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹82 - 87 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹53.62 Cr |
| Fresh Issue | 6,163,200 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | - |
| Retail Portion | 35.00% |
IPO Tentative Timetable
The Greenchef Appliances Limited IPO open date is Jun 23, 2023, and the close date is Jun 27, 2023. The issue may list on Jul 06, 2023.
| IPO Open Date | Jun 23, 2023 |
| IPO Close Date | Jun 27, 2023 |
| Basis of Allotment Date | Jul 03, 2023 |
| Initiation of Refunds | Jul 04, 2023 |
| Credit of Shares to Demat Account | Jul 05, 2023 |
| IPO Listing Date | Jul 06, 2023 |
IPO Lot Size
The Greenchef Appliances Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹139200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹139200 |
| Maximum | 1 | 1600 | ₹139200 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.52% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 14223.39 | 23929.33 | 257.10 |
| 31-Mar-22 | 17953.59 | 33704.52 | 82.09 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding Capital Expenditure towards the installation of additional plant and machinery, and the construction of the factory building,
- Funding of working capital requirement, and
- General Corporate Purpose.
Greenchef Appliances Limited IPO Registrar:
Link Intime India Private Ltd
Greenchef Appliances Limited IPO Lead Manager(s):
Hem Securities Limited
Company Contact Information:
Greenchef Appliances Limited
No. 477 E, IV Phase, Peenya Industrial Area, Bangalore
Bangalore
Bangalore
