Comrade Appliances IPO will open for subscription from 31 May 2023. the company aims for an issue size of ₹12.30 Cr through this IPO.
Company Overview
| Full name | Comrade Appliances Limited |
| Sector | Consumer Durables |
| Industry | Consumer Durables – Domestic Appliances |
| Company Website | https://comrade.net.in/ |
About Company
Incorporated in 2017, Comrade Appliances is engaged in the process of manufacturing an extensive array of Air Coolers and Electric Geysers. It manufactures consumer durable goods and assembles a wide array of products and provides end-to-end product solutions. Comrade Appliances operates under Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) business models. Under the OEM model, it manufactures and supplies 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 also conceptualizes and designs the products which are then marketed to the customers’ prospective customers under their brands.
The company has a moulding unit setup with 8 moulding machines- 3 of 100 tons, 1 of 170 tons, 1 of 280 tons, 1 of 350 tons, 1 of 450 tons, and 1 of 775 tons. The company’s product portfolio of consumer goods includes:
- Air Coolers: Tower Series, Personal Series
- Electric Geysers
The Objective of the Issue
- Working Capital Requirements
- General Corporate Purposes
IPO Timetable
| IPO Opening date | 31 May 2023 |
| IPO Closing | 05 June 2023 |
| Basis of Allotment | 08 June 2023 |
| Initiation Refund | 09 June 2023 |
| Credit to Demat Account | 12 June 2023 |
| Listing Date | 13 June 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹12.30 Cr – 2,278,000 shares |
| Fresh Issue | ₹12.30 Cr – 2,278,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹52 to ₹54 per share |
| Lot size | 2000 Shares |
| Retail Allocation | 35% |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 2,600.49 | 2,964.89 | 2,696.14 |
| Expenses | 2,575.37 | 2,918.99 | 2,477.41 |
| Net income | 20.21 | 38.75 | 163.57 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.61 | 0.99 | 3.15 |
| PE ratio | – | – | 16.51 – 17.14 |
| RONW (%) | 8.36 | 7.72 | 23.73 |
| NAV | 7.27 | 12.78 | 13.28 |
| ROCE (%) | 7.00 | 12.00 | 16.00 |
| EBITDA (%) | 7.35 | 18.88 | 16.67 |
| Debt/Equity | 5.84 | 2.22 | 1.96 |
Company Promoters
- M/s Troupe Technologies Private Limited
- Mr. Khursheed Alam
- Mr. Mehboob Alam
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 69.74% |
Lead Manager(s)
- GRETEX CORPORATE SERVICES LIMITED
Office No. 13, 1st Floor,
New Bansilal Building, Raja Bahadur Mansion,
9-15, Homi Modi Street, Fort, Mumbai– 400001
Phone: +91 96532 49863
Email: info@gretexgroup.com
Website: www.gretexcorporate.com
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
COMRADE APPLIANCES LIMITED
Shop No. 39, Ground Level I,
Dewan Centre, 183-186, S.V. Road,
Jogeshwari West, Mumbai – 400102
Phone: 022-66959545
E-mail: info@comrade.net.in
Website: www.comrade.net.in
Allotment Status
Comrade Appliances IPO allotment status will be available on Bigshare Services’ website. Click on Bigshare Services weblink to get allotment status.
Final thoughts
Comrade Appliances IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
