9-Greenchef Appliances Limited IPO is set to launch on 23 June, 2023. The company initiated its business operations in the year 2010. It manufactures and markets kitchen appliances. The brand name for the company for sales is GreenChef Appliances.
The appliances include Gas Stoves, Mixer Grinders, Pressure Cookers, Wet Grinders, Induction CookTops, Electric Rice Cooker, Non-Stick Cookwares etc. The Non Stick Cookwares of the firm includes Fry Pan, Tawa, Biryani Pot, Kadai, Appachetty, Paniyarakkal, Hose Pipes, Kettles, Spin Mop, Gas Cylinder Trolley etc.
Its sales are done through both online and offline channels. The online sales are done through platforms like Flipkart, BigBasket, JioMart, Amazon etc. The company is also good at providing after sales services. Its team includes 130 service technicians, and the network of the same is spread across 13 states. It also has 107 authorised service providers in more than 14 states. Its manufacturing facilities are located in Karnataka, Bengaluru and Himachal Pradesh.
Greenchef Appliances Limited IPO DETAILS
Greenchef Appliances Limited IPO is set to launch on 23 June, 2023. The subscription timeline extends till 27 June, 2023. The size for the IPO is 53.62 Crore Rs. Shares issued through fresh issue mode are worth 53.62 Crore Rs. No Shares are issued through offer for sale mode. The lot size is 1600 shares and the price is 82 Rs to 87 Rs per share. The company is going to get listed at NSE SME. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.
Tabular Description of Greenchef Appliances Limited IPO
| IPO OPENING DATE | 23 June, 2023 |
| CLOSING DATE FOR IPO | 27 June, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 82 Rs to 87 per share |
| LOT SIZE | 1600 shares |
| MINIMUM ORDER QUANTITY | 1600 shares |
| ISSUE SIZE | 53.62 Crore Rs. |
| OFFER FOR SALE | No shares offered through offer for sale mode |
| FRESH ISSUE | 53.62 Crore Rs. |
| LISTING AT | NSE SME |
| LISTING DATE | 6 July, 2023 |
Greenchef Appliances Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 23 June, 2023 |
| CLOSING DATE FOR IPO | 27 June, 2023 |
| IPO ALLOTMENT DATE | 3 July, 2023 |
| REFUNDS | 4 July, 2023 |
| DEMAT A/C CREDITED ON | 5 July, 2023 |
| IPO LISTING DATE | 6 July, 2023 |
Greenchef Appliances Limited IPO begins for subscription from 23 June, 2023. The IPO subscription would continue till 27 June, 2023. The allotment status for the shareholders who applied would come on 3 July, 2023. The refunds for the ones who did not get allotment would be initiated on 4 July, 2023. The DEMAT accounts of shareholders would be credited on 5 July, 2023. The listing of the company would be completed on 6 July, 2023.
Greenchef Appliances Limited IPO : Lead Managers
The lead managers are :
- Hem Securities Limited
The minimum lot size for the company is decided at 1600 shares. This holding accounts to 139200 Rs.. The maximum lot size is decided at 3200 shares (HNI). This amounts to 278400 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 1600 shares | 139200 Rs. |
| Maximum | 3200 shares | 278400 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for expanding its business.
- The company’s money will be used for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Lakh Rs.) | 2019-20 | 2020-21 | 2021-22 |
| ASSETS | 12563 | 14223 | 17954 |
| Revenue | 23807 | 23929 | 33704 |
| PAT | 117 | 257 | 82 |
GreenChef Appliances had an asset base of more than 12563 lakh Rs in 2020 which increased to 14223 Lakh Rs in 2021 and 17954 Lakh Rs in 2022. The revenue of the firm was 23807 Lakh Rs in 2020 which increased to 23929 Lakh Rs in 2021 and 33704 Lakh Rs in 2022. The profit was 117 Lakh Rs in 2020 which increased to 257 Lakh Rs in 2021. However the profit decreased to 82 Lakh Rs in 2022.
PROS
- The appliances include Gas Stoves, Mixer Grinders, Pressure Cookers, Wet Grinders, Induction CookTops, Electric Rice Cooker, Non-Stick Cookwares etc.
- The Non Stick Cookwares of the firm includes Fry Pan, Tawa, Biryani Pot, Kadai, Appachetty, Paniyarakkal, Hose Pipes, Kettles, Spin Mop, Gas Cylinder Trolley etc.
- Its manufacturing facilities are located in Karnataka, Bengaluru and Himachal Pradesh.
- Its sales are done through both online and offline channels. The online sales are done through platforms like Flipkart, BigBasket, JioMart, Amazon etc.
- The company is also good at providing after sales services. Its team includes 130 service technicians, and the network of the same is spread across 13 states. It also has 107 authorised service providers in more than 14 states.
CONS
- The company works into a very competitive segment.
Greenchef Appliances Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Greenchef Appliances Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
