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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:
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.
| IPO Date | May 31, 2023 to Jun 5, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹52 to ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,278,000 shares (aggregating up to ₹12.30 Cr) |
| Fresh Issue | 2,278,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 5,250,795 |
| Share holding post issue | 7,528,795 |
| Market Maker portion | 114,000 shares (Gretex Share Broking) |
| QIB Shares Offered | 432,000 (26.50%) |
| NII (HNI) Shares Offered | 440,000 (26.99%) |
| Retail Shares Offered | 758,000 (46.50%) |
| Total Shares Offered | 1,630,000 |
Note:
Comrade Appliances IPO opens on May 31, 2023, and closes on Jun 5, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Wednesday, 31 May 2023 |
| Closing Date | Monday, 5 June 2023 |
| Basis of Allotment | Thursday, 8 June 2023 |
| Initiation of Refunds | Friday, 9 June 2023 |
| Credit of Shares to Demat | Monday, 12 June 2023 |
| Listing Date | Tuesday, 13 June 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 5, 2023 |
The Comrade Appliances IPO lot size is 2000 shares.
| 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 | |||
M/s Troupe Technologies Private Limited, Mr. Khursheed Alam and Mr. Mehboob Alam are the company promoters.
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 69.74% |
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 1,678.98 | 2,162.29 | 41.80 | 293.40 | -38.97 | 400.93 |
| 31-Mar-21 | 3,140.65 | 2,603.85 | 20.21 | 241.77 | -90.60 | 1,412.38 |
| 31-Mar-22 | 2,527.31 | 2,973.28 | 38.75 | 502.43 | -14.87 | 1,113.79 |
| 31-Aug-22 | 2,272.21 | 1,559.15 | 100.45 | 602.88 | 85.61 | 1,080.74 |
| Amount in ₹ Lakhs | ||||||
| KPI | Values |
|---|---|
| P/E (x) | 17.14 |
| Market Cap (₹ Cr.) | 40.66 |
| ROE | 0.27 |
| ROCE | 0.16 |
| Debt/Equity | 1.96 |
| EPS (Rs) | 3.15 |
| RoNW (%) | 23.73 |
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objectives:
[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...
The Comrade Appliances IPO is subscribed 0.51 times on May 31, 2023 7:02:00 PM. The public issue subscribed 0.90 times in the retail category, 0.00 times in the QIB category, and 0.34 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 0.00 |
| NII | 0.34 |
| Retail | 0.90 |
| Total | 0.51 |
Total Application : 351 (0.93 times)
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/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/
SME Company Owners
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Check our SME IPO Guide 
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 Jun 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
Visit Zerodha IPO Application Process Review for more detail.
The Comrade Appliances IPO opens on May 31, 2023 and closes on Jun 5, 2023.
Comrade Appliances IPO lot size is 2000 Shares and the minimum order quantity is .
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, 8 June 2023, and the allotted shares will be credited to your demat account by Monday, 12 June 2023. Check the Comrade Appliances IPO allotment status.
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