Greenchef Appliances IPO

Greenchef Appliances IPO will open for subscription from 23 June 2023. the company aims for an issue size of ₹53.62 Cr through this IPO.

Company Overview

Full nameGreenchef Appliances Limited
SectorConsumer Durables
IndustryConsumer durables-Domestic Appliances
Company Website

About Company

Incorporated in 2010, Greenchef Appliances is engaged in the business of manufacturing and marketing a wide range of kitchen appliances under the brand name Greenchef. Its kitchen appliances include a wide range of solutions comprising Gas Stoves, Pressure Cookers, Mixer Grinders, Wet Grinders, Electric Rice Cooker, Induction Cooktops, Non-stick Cookwares like Tawa, Fry Pans, Kadai, Biriyani Pot, Tadka Pan, Paniyarakkal, Appamchetty, etc, Kettles, Hose Pipes, Gas Cylinder Trolley and Spin Mop.

The company is also engaged in the marketing of appliances like Chimneys, Stainless Steel Utensils, Blenders, Vegetable Chopper, Silicon Gaskets, Water Bottles, Fans, Iron, 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. It also provides after-sales services in relation to the products. These services include repairs and maintenance of sold goods and installation Services. As of 31 December 2022, the company service team comprised 130 service technicians across 13 states. Further, it 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 31 December 2022, its 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, the company has around 450 distributors in 22 states and 3 union territories of India.

The Objective of the Issue

  • 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 IPO Timetable

IPO Opening date23 June 2023
IPO Closing27 June 2023
Basis of Allotment03 July 2023
Initiation Refund04 July 2023
Credit to Demat Account05 July 2023
Listing Date06 July 2023

Greenchef Appliances IPO details

Issue typeBook Built Issue IPO
IPO issue size₹53.62 Cr – 6,163,200 shares
Fresh Issue₹53.62 Cr – 6,163,200 shares
Offer for saleNil
Face value₹10 per share
Price Band₹82 to ₹87 per share
Lot size1600 Shares
Retail Allocation35%
Listing ExchangeNSE SME

IPO Lot Size

Retail (Min)11600₹139,200
Retail (Max)11600₹139,200
HNI (Min)23,200₹278,400

Reservation Details

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

Financial Performance

 FY 2020FY 2021FY 20229M FY 2023**
Net income1.172.570.8210.22
(Amount in ₹ Crores)

Valuations & Margins

FY 2020FY 2021FY 2022
PE ratio182.22 – 193.33
RONW (%)2.304.931.48
ROCE (%)5.786.764.04
EBITDA (%)2.973.592.17

Company Promoters

  • Mr. Sukhlal Jain
  • Mr. Praveen Kumar Sukhlal Jain
  • Mr. Vikas Kumar Sukhlal Jain
  • Mr. Hitesh Kumar Jain
  • Mr. Vikas Kumar Sukhlal Jain HUF

Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding73.52%

Lead Manager(s)

904, A Wing, Naman Midtown,
Senapati Bapat Marg, Elphinstone Road,
Lower Parel, Mumbai-400013, Maharashtra
+91- 022- 49060000

IPO Registrar

C-101, 1st Floor, 247 Park,
Lal Bahadur Shastri Marg, Vikhroli (West),
Mumbai, Maharashtra, India – 400 083
Phone: +91-8108114949

Contact Details

No. 477 E, IV Phase, Peenya Industrial Area,
Bangalore – 560 058, Kanrataka, India
Phone: +91-80-29564495

Allotment Status

Greenchef Appliances IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.

Final thoughts

Greenchef 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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