Comrade Appliances IPO

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 nameComrade Appliances Limited
SectorConsumer Durables
IndustryConsumer Durables – Domestic Appliances
Company Website

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 date31 May 2023
IPO Closing05 June 2023
Basis of Allotment08 June 2023
Initiation Refund09 June 2023
Credit to Demat Account12 June 2023
Listing Date13 June 2023

IPO details

Issue typeBook Built Issue IPO
IPO issue size₹12.30 Cr – 2,278,000 shares
Fresh Issue₹12.30 Cr – 2,278,000 shares
Offer for saleNil
Face value₹10 per share
Price Band₹52 to ₹54 per share
Lot size2000 Shares
Retail Allocation35%
Listing ExchangeBSE SME

IPO Lot Size

Retail (Min)12000₹108,000
Retail (Max)12000₹108,000
HNI (Min)24,000₹216,000

Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Financial Performance

 FY 2021FY 2022FY 2023
Net income20.2138.75163.57
(Amount in ₹ Lakhs)

Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio16.51 – 17.14
RONW (%)8.367.7223.73
ROCE (%)7.0012.0016.00
EBITDA (%)7.3518.8816.67

Company Promoters

  • M/s Troupe Technologies Private Limited
  • Mr. Khursheed Alam
  • Mr. Mehboob Alam

Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding69.74%

Lead Manager(s)

    Office No. 13, 1st Floor,
    New Bansilal Building, Raja Bahadur Mansion,
    9-15, Homi Modi Street, Fort, Mumbai– 400001
    Phone: +91 96532 49863

IPO Registrar

S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
Phone: +91 22 6263 8200

Contact Details

Shop No. 39, Ground Level I,
Dewan Centre, 183-186, S.V. Road,
Jogeshwari West, Mumbai – 400102
Phone: 022-66959545

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

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