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Comrade Appliances Limited IPO (Comrade Appliances IPO) Detail

May 31, 2023 - June 5, 2023

Comrade Appliances IPO is a book built issue of Rs 12.30 crores. The issue is entirely a fresh issue of 22.78 lakh shares.

Comrade Appliances IPO bidding started from May 31, 2023 and ended on June 5, 2023. The allotment for Comrade Appliances IPO was finalized on Thursday, June 8, 2023. The shares got listed on BSE SME on June 13, 2023.

Comrade Appliances IPO price band is set at ₹52 to ₹54 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.

Gretex Corporate Services Limited is the book running lead manager of the Comrade Appliances IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Comrade Appliances IPO is Gretex Share Broking.

Refer to Comrade Appliances IPO RHP for detailed information.

Comrade Appliances IPO Details

IPO Date May 31, 2023 to June 5, 2023
Listing Date June 13, 2023
Face Value ₹10 per share
Price Band ₹52 to ₹54 per share
Lot Size 2000 Shares
Total Issue Size2,278,000 shares
(aggregating up to ₹12.30 Cr)
Fresh Issue2,278,000 shares
(aggregating up to ₹12.30 Cr)
Issue Type Book Built Issue IPO
Listing At BSE SME
Share holding pre issue5,250,795
Share holding post issue7,528,795
Market Maker portion114,000 shares
Gretex Share Broking

Comrade Appliances IPO Reservation

Comrade Appliances IPO offers 2,278,000 shares. 432,000 (18.96%) to QIB, 326,000 (14.31%) to NII, 758,000 (33.27%) to RII 648,000 (28.45%) to Anchor investors.

Investor Category Shares Offered
Anchor Investor Shares Offered648,000 (28.45%)
Market Maker Shares Offered114,000 (5.00%)
QIB Shares Offered432,000 (18.96%)
NII (HNI) Shares Offered326,000 (14.31%)
Retail Shares Offered758,000 (33.27%)
Total Shares Offered2,278,000 (100%)

Comrade Appliances IPO Anchor Investors Details

Comrade Appliances IPO raises Rs 3.50 crore from anchor investors. Comrade Appliances IPO Anchor bid date is May 30, 2023. Comrade Appliances IPO Anchor Investors list

Bid Date May 30, 2023
Shares Offered 648,000
Anchor Portion Size (In Cr.) 3.50
Anchor lock-in period end date for 50% shares (30 Days) July 8, 2023
Anchor lock-in period end date for remaining shares (90 Days) September 6, 2023

Comrade Appliances IPO Timeline (Tentative Schedule)

Comrade Appliances IPO opens on May 31, 2023, and closes on June 5, 2023.

IPO Open Date Wednesday, May 31, 2023
IPO Close Date Monday, June 5, 2023
Basis of Allotment Thursday, June 8, 2023
Initiation of Refunds Friday, June 9, 2023
Credit of Shares to Demat Monday, June 12, 2023
Listing Date Tuesday, June 13, 2023
Cut-off time for UPI mandate confirmation 5 PM on June 5, 2023

Comrade Appliances IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 2000 ₹108,000
Retail (Max) 1 2000 ₹108,000
HNI (Min) 2 4,000 ₹216,000
Lot Size Calculator

Comrade Appliances IPO Promoter Holding

M/s Troupe Technologies Private Limited, Mr. Khursheed Alam and Mr. Mehboob Alam are the company promoters.

Share Holding Pre Issue 100.00%
Share Holding Post Issue 69.74%

About Comrade Appliances Limited

Incorporated in 2017, Comrade Appliances Limited is engaged in the process of manufacturing an extensive array of Air Coolers and Electric Geysers. The company manufactures consumer durable goods and assembles various products. They offer end-to-end product solutions to their customers.

Comrade Appliances operate under both, Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) business models.

Under the OEM model, they manufacture and supply 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 Limited also conceptualize and designs the products which are then marketed to the customers' prospective customers under their brands.

Presently, the company's product portfolio of consumer goods consists of:

  • Air Coolers
  • Electric Geysers

The company's products are marketed, manufactured, and sold under the brand name "Comrade".

The company has a manufacturing facility located at Palghar admeasuring 66,322 Sq. Ft.

Company Financials

Comrade Appliances Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
31-Mar-201,678.982,162.2941.80293.40-38.97400.93
31-Mar-213,140.652,603.8520.21241.77-90.601,412.38
31-Mar-222,527.312,973.2838.75502.43-14.871,113.79
31-Mar-232,753.182,699.43163.57689.41164.331,766.48
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Comrade Appliances IPO is Rs 40.66 Cr.

KPI Values
ROE0.27%
ROCE0.16%
Debt/Equity1.96
RoNW23.73%
Pre IPO Post IPO
EPS (Rs) 3.15
P/E (x) 17.14

Objects of the Issue (Comrade Appliances IPO Objectives)

The Company intends to utilize the Net Fresh Issue Proceeds for the following Objectives:

  1. Working Capital Requirements
  2. General Corporate Purposes

Comrade Appliances IPO Review (Avoid)

[Dilip Davda]  The company operates in a highly competitive and fragmented segment with many big players around. The sudden boost in its bottom line for FY23 raises eyebrows and concerns over sustainability going forward. Based on such super earnings, the issue appears aggressively priced. Small equity capital post-IPO indicates a longer gestation period for migration to the mainboard. Its IPO spending to the tune of 22.68% also raises concern. There is no harm in skipping this pricey issue. Read detail review...


Comrade Appliances IPO Subscription Status (Bidding Detail)

The Comrade Appliances IPO is subscribed 77.25 times on June 5, 2023 7:02:00 PM. The public issue subscribed 72.08 times in the retail category, 21.86 times in the QIB category, and 162.67 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB21.86
NII162.67
Retail72.08
Total77.25

Total Application : 34,440 (90.87 times)

Comrade Appliances IPO Prospectus

Comrade Appliances IPO Rating

10
3.1
Rating:Rated 3.1 stars
Vote Here ...

Comrade Appliances IPO Listing Details

Listing Date June 13, 2023
BSE Script Code 543921
NSE Symbol
ISIN INE0NXA01015
Final Issue Price ₹54 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE SME
₹54.00
₹87.00
₹87.00
₹91.35
₹91.35

Check IPO Performance…

Comrade Appliances Limited 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
Email: info@comrade.net.in
Website: http://www.comrade.net.in/

Comrade Appliances IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html

Comrade Appliances IPO - Buy or Not

Comrade Appliances IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 4

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Comrade Appliances IPO FAQs

Comrade Appliances IPO is a SME IPO of 2,278,000 equity shares of the face value of ₹10 aggregating up to ₹12.30 Crores. The issue is priced at ₹52 to ₹54 per share. The minimum order quantity is 2000 Shares.

The IPO opens on May 31, 2023, and closes on June 5, 2023.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in Comrade Appliances IPO using UPI as a payment gateway. Zerodha customers can apply in Comrade Appliances IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Comrade Appliances IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Comrade Appliances IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Comrade Appliances IPO opens on May 31, 2023 and closes on June 5, 2023.

Comrade Appliances IPO lot size is 2000 Shares, and the minimum amount required is ₹108,000.

You can apply in Comrade Appliances IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Comrade Appliances IPO will be done on Thursday, June 8, 2023, and the allotted shares will be credited to your demat account by Monday, June 12, 2023. Check the Comrade Appliances IPO allotment status.

The Comrade Appliances IPO listing date is on June 13, 2023.
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Comrade Appliances IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Members with Most Likes

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317 Comments

171. BullsEyee |   Link |  Bookmark |July 15, 2023 12:37:17 AM
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
...
170. BullsEye 🎯 |   Link |  Bookmark |July 3, 2023 1:11:44 PM
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
Wipro buyback..
387 out of 500 accepted....
169. BullsEye 🎯 |   Link |  Bookmark |July 3, 2023 1:06:28 AM
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
Nifty Short term Tagets ????

a. Below 17500
b. Range bound in 500 points
c. Above 20000

plz vote max
so wht majorities will do we don't do
u knw wht i mean
....
168. rahulkrjain |   Link |  Bookmark |June 14, 2023 10:33:35 AM (300+ Posts)
Finally sold at 92. Unfortunately my SL order for 94 was not executed somehow.
Thanks Chittorgarh IPO community and expert advice. This was my first sme ipo.
Last big was unfortunately LIC.
167. Kapil Mehra |   Link |  Bookmark |June 14, 2023 9:12:06 AM (200+ Posts)
Sold at 95.91.......
166. rahulkrjain |   Link |  Bookmark |June 14, 2023 9:10:54 AM (300+ Posts)
Seems again upper circuit today, i am still holding
165. kishenharendra |   Link |  Bookmark |June 13, 2023 9:46:46 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Very good listing...gmp indicated around 65 but listed 87...
165.3. Din |   Link |  Bookmark |June 14, 2023 6:02:26 AM
If I buy on listing, when will I be allowed to sell??
165.4. Din |   Link |  Bookmark |June 14, 2023 9:38:24 AM
@imhilli I bought 1 lot yesterday, when will I be able to sell?
164. Kapil Mehra |   Link |  Bookmark |June 13, 2023 9:13:29 PM (200+ Posts)
How much is lock in period time for QIB.......
163. Kapil Mehra |   Link |  Bookmark |June 13, 2023 8:10:52 PM (200+ Posts)
214000
56000
70000
50000
50000
All at 87 Rs
162. Kapil Mehra |   Link |  Bookmark |June 13, 2023 6:00:04 PM (200+ Posts)
5 bulk deals happened total shares acquired 4.4 lakhs
162.1. Imhilli |   Link |  Bookmark |June 13, 2023 7:09:32 PM
IPO Guru IPO Guru (1200+ Posts, 700+ Likes)
Details please 🙏
161. IPOswami |   Link |  Bookmark |June 13, 2023 5:58:02 PM
Sold@87 02 alloted lots....
Will move forward to Spectrum and Kachrawala....enviro....
Chalo ab milke kachre me KAMAL khilaye
160. Kapil Mehra |   Link |  Bookmark |June 13, 2023 3:04:02 PM (200+ Posts)
@KAPZ, Sir u r right any thing can happen but if u notice in Sahana Retail subscription was more than NII and with not so clear business model chances of holding it's price is difficult and in Comrade u can see the portion of Qib ,Nii was quite heavily subscribed . Atleast 2 more upper circuit or u can say price of 100 we may see on Thursday.
Just my opinion........
160.1. Kapz |   Link |  Bookmark |June 13, 2023 5:52:19 PM
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
@Kapil Mehra sir, agree and I do hope it turns out the way you suggest. Many will benefit 👍🙏
159. Amit Jaipur |   Link |  Bookmark |June 13, 2023 10:23:22 AM
IPO Guru IPO Guru (1400+ Posts, 1400+ Likes)
Sold at 87
159.2. AAA JAI |   Link |  Bookmark |June 13, 2023 1:10:40 PM (200+ Posts)
Congrats to all allotted. Great work by LM.
Sold both allotted lots - rs.87 & rs.88.
159.3. Amit Jaipur |   Link |  Bookmark |June 13, 2023 4:30:30 PM
IPO Guru IPO Guru (1400+ Posts, 1400+ Likes)
Sabko badhai ho jisne bhi profit book kiya.
158. IPO Pappu |   Link |  Bookmark |June 13, 2023 4:26:26 PM
Off topic
What about mishtann foods ?
Will there be a good rally in coming ng days
157. Kapil Mehra |   Link |  Bookmark |June 13, 2023 1:07:47 PM (200+ Posts)
80% of free float has changed hands.....this share can surprise with its upward journey.......
157.1. Kapz |   Link |  Bookmark |June 13, 2023 2:03:35 PM
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
I think it was the same case with Sahana yesterday.. it’s at LC today.
Anything can still happen as nothing is certain..
157.2. rahulkrjain |   Link |  Bookmark |June 13, 2023 2:54:17 PM (300+ Posts)
@Kapil Mehra  should i hold it for more number of days?
156. hitsur |   Link |  Bookmark |June 13, 2023 10:37:13 AM
Hi
I have been allotted COMRADE share in my HUF AC, Kotak securities. But this shares is not showing in my account.
Can anyone guide.
156.3. Amit Jaipur |   Link |  Bookmark |June 13, 2023 11:05:31 AM
IPO Guru IPO Guru (1400+ Posts, 1400+ Likes)
Problem have benefitted u both.
156.4. hitsur |   Link |  Bookmark |June 13, 2023 12:01:54 PM
Yes done...
Sold at 91.35
THANKYOU
155. rahulkrjain |   Link |  Bookmark |June 13, 2023 11:22:45 AM (300+ Posts)
At 91.35 Na hilling na dulling only boom boom karing. Lol
154. rahulkrjain |   Link |  Bookmark |June 13, 2023 10:11:59 AM (300+ Posts)
Seems
No seller available now,
Heading for upper circuit?
153. Kapil Mehra |   Link |  Bookmark |June 13, 2023 9:49:04 AM (200+ Posts)
Three days consecutive upper circuit will be there.... hopefully
152. rahulkrjain |   Link |  Bookmark |June 13, 2023 9:48:59 AM (300+ Posts)
Whats probability to move upward