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Greenchef Appliances IPO is a book built issue of Rs 53.62 crores. The issue is entirely a fresh issue of 61.63 lakh shares.
Greenchef Appliances IPO bidding started from June 23, 2023 and ended on June 27, 2023. The allotment for Greenchef Appliances IPO was finalized on Monday, July 3, 2023. The shares got listed on NSE SME on July 6, 2023.
Greenchef Appliances IPO price band is set at ₹82 to ₹87 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹139,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹278,400.
Hem Securities Limited is the book running lead manager of the Greenchef Appliances IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Greenchef Appliances IPO is Hem Finlease.
Refer to Greenchef Appliances IPO RHP for detailed information.
| IPO Date | June 23, 2023 to June 27, 2023 |
| Listing Date | July 6, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹82 to ₹87 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 6,163,200 shares (aggregating up to ₹53.62 Cr) |
| Fresh Issue | 6,163,200 shares (aggregating up to ₹53.62 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,108,640 |
| Share holding post issue | 23,271,840 |
| Market Maker portion | 312,000 shares Hem Finlease |
Greenchef Appliances IPO offers 7,915,200 shares. 2,923,200 (36.93%) to QIB, 878,000 (11.09%) to NII, 2,049,600 (25.89%) to RII 1,752,000 (22.13%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,752,000 (22.13%) |
| Market Maker Shares Offered | 312,000 (3.94%) |
| QIB Shares Offered | 2,923,200 (36.93%) |
| NII (HNI) Shares Offered | 878,000 (11.09%) |
| Retail Shares Offered | 2,049,600 (25.89%) |
| Total Shares Offered | 7,915,200 (100%) |
Greenchef Appliances IPO raises Rs 15.24 crore from anchor investors. Greenchef Appliances IPO Anchor bid date is June 22, 2023. Greenchef Appliances IPO Anchor Investors list
| Bid Date | June 22, 2023 |
| Shares Offered | 1,752,000 |
| Anchor Portion Size (In Cr.) | 15.24 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 2, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 1, 2023 |
Greenchef Appliances IPO opens on June 23, 2023, and closes on June 27, 2023.
| IPO Open Date | Friday, June 23, 2023 |
| IPO Close Date | Tuesday, June 27, 2023 |
| Basis of Allotment | Monday, July 3, 2023 |
| Initiation of Refunds | Tuesday, July 4, 2023 |
| Credit of Shares to Demat | Wednesday, July 5, 2023 |
| Listing Date | Thursday, July 6, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 27, 2023 |
Investors can bid for a minimum of 1600 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 | 1600 | ₹139,200 |
| Retail (Max) | 1 | 1600 | ₹139,200 |
| HNI (Min) | 2 | 3,200 | ₹278,400 |
| Lot Size Calculator | |||
Mr. Sukhlal Jain, Mr. Praveen Kumar Sukhlal Jain, Mr. Vikas Kumar Sukhlal Jain, Mr. Hitesh Kumar Jain, and Mr. Vikas Kumar Sukhlal Jain HUF are the company promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.52% |
Incorporated in 2010, Greenchef Appliances Limited is engaged in the business of manufacturing and marketing kitchen appliances under the brand name Greenchef.
Greenchef's kitchen appliances include Gas Stoves, Pressure Cookers, Mixer Grinders, Wet Grinders, Electric Rice Cooker, Induction Cooktops, Non-stick Cookwares like Tawa, Fry Pan, Kadai, Biriyani Pot, Tadka Pan, Paniyarakkal, Appamchetty, Kettles, Hose Pipes, Gas Cylinder Trolley and Spin Mop, 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.
The company also provides after-sales services in relation to the products. These services include repairs and maintenance of sold goods and installation services. As of December 31, 2022, Greenchef's service team comprises 130 service technicians across 13 states. Further, the company 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 December 31, 2022, the 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, as on December 31, 2022, the company has around 450 distributors in 22 states and 3 union territories of India.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 12,562.89 | 23,807.17 | 117.26 | 4,854.57 | 4,498.14 | 3,916.06 |
| 31-Mar-21 | 14,223.39 | 23,929.33 | 257.10 | 5,093.27 | 4,736.84 | 5,182.39 |
| 31-Mar-22 | 17,953.59 | 33,704.52 | 82.09 | 5,170.68 | 4,814.25 | 6,682.81 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Greenchef Appliances IPO is Rs 202.47 Cr.
| KPI | Values |
|---|---|
| ROE | 18.19% |
| ROCE | 12.52% |
| Debt/Equity | 0.99 |
| RoNW | 16.85% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.97 | |
| P/E (x) | 14.87 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many big and small players around. The sudden boost in its bottom line for H1 FY23 raises eyebrows and concerns over sustainability going forward. Based on such super earnings, the issue appears fully priced while based on its track records so far, the issue appears aggressively priced. Well-informed investors may consider investing in this greedily priced issue. Read detail review...
The Greenchef Appliances IPO is subscribed 44.89 times on June 27, 2023 7:29:00 PM. The public issue subscribed 62.63 times in the retail category, 17.11 times in the QIB category, and 96.01 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 17.11 |
| NII | 96.01 |
| Retail | 62.63 |
| Total | 44.89 |
Total Application : 80,230 (62.63 times)
| Listing Date | July 6, 2023 |
| BSE Script Code | |
| NSE Symbol | GREENCHEF |
| ISIN | INE0O7P01015 |
| Final Issue Price | ₹87 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹87.00 |
| ₹104.00 |
| ₹104.00 |
| ₹109.20 |
| ₹109.20 |
Greenchef Appliances Limited
No. 477 E, IV Phase,
Peenya Industrial Area,
Bangalore - 560 058
Phone: +91-80-29564495
Email: info@greenchef.in
Website: https://www.greenchef.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: greenchef.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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Greenchef Appliances IPO is a SME IPO of 6,163,200 equity shares of the face value of ₹10 aggregating up to ₹53.62 Crores. The issue is priced at ₹82 to ₹87 per share. The minimum order quantity is 1600 Shares.
The IPO opens on June 23, 2023, and closes on June 27, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Greenchef Appliances IPO using UPI as a payment gateway. Zerodha customers can apply in Greenchef Appliances IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Greenchef Appliances IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Greenchef Appliances IPO opens on June 23, 2023 and closes on June 27, 2023.
Greenchef Appliances IPO lot size is 1600 Shares, and the minimum amount required is ₹139,200.
You can apply in Greenchef 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 Greenchef Appliances IPO will be done on Monday, July 3, 2023, and the allotted shares will be credited to your demat account by Wednesday, July 5, 2023. Check the Greenchef Appliances IPO allotment status.
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