Comrade Appliances was incorporated on March 22, 2017. The company manufactures air coolers and electric geysers. It also makes consumer durable goods and assembles a wide array of products and provides end-to-end product solutions.
| Bidding Dates |
|---|
| 31 May 2023 - 05 Jun 2023 |
| Subscription |
|---|
| 71.92x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,08,000 | 1 | 1 | 2000 | 2.3 M | ₹52 - ₹54 | 73.35 % | ₹118.5 M - ₹123.0 M | RHP DOC |
Comrade Appliances IPO SUBSCRIPTION STATUS
05 Jun '23Comrade Appliances IPO overall subscription rate was 71.92 times the total available shares
Comrade Appliances IPO retail subscription rate was 72.08 times in the retail segment
Comrade Appliances IPO non-institutional investor subscription rate was 120.78 times in the non-institutional investor category
Comrade Appliances IPO Qualified Institutional Bidder subscription rate was 21.86 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
05 Jun 2023 (Day 4) | 72.08x | 120.78x | 21.86x |
02 Jun 2023 (Day 3) | 9.42x | 2.68x | 0.01x |
01 Jun 2023 (Day 2) | 3.28x | 0.84x | 0x |
31 May 2023 (Day 1) | 0.9x | 0.34x | 0x |
Comrade Appliances FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| 5MFY23 | 10.0 | 155.5 | 14.3 | 13.5 |
| FY22 | 3.9 | 296.5 | 44.8 | 40.9 |
| FY21 | 2.0 | 260.0 | -17.1 | -45.0 |
| FY20 | 4.2 | 216.2 | 14.5 | 2.9 |
Comrade Appliances IPO SUBSCRIPTION STATUS DETAILS
Comrade Appliances had 2.3 M shares on offer
Comrade Appliances IPO offer price was in the range ₹52 - ₹54
Comrade Appliances IPO minimum Investment was ₹108000
Comrade Appliances IPO issue size was ₹ 118.5 M - ₹ 123.0 M
Comrade Appliances had a minimum lot size of 2000 Shares per application
Comrade Appliances NUMBER OF SHARES ON OFFER
Comrade Appliances IPO IMPORTANT DATES
| Issue Open Date | 31 May 2023 |
| Issue close Date | 05 Jun 2023 |
| Allotment Date | 08 Jun 2023 |
| Refund Date | 09 Jun 2023 |
| Demat Account Credit Date | 12 Jun 2023 |
| Listing Date | 13 Jun 2023 |
| Listing on Exchange(s) | BSE |
| Comrade Appliances Allotment Status | Exchange |
Comrade Appliances IPO subscription opened on 31 May 2023, and closed on 05 Jun 2023
IPO allotment for Comrade Appliances was finalized on Thursday, 08 Jun 2023
IPO listing for Comrade Appliances was on BSE on Tuesday, 13 Jun 2023
Comrade Appliances IPO LISTING GAINS
| Issue Price (adjusted) | 54.0 |
| Listing Open Price | 87.0 |
| Listing Close Price | 91.3 |
| Listing Gain% | 61.1% |
| Current Gain% | -19.9% |
Comrade Appliances Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Comrade Appliances Ltd. | 43.2 | 31 | -3.6 | 0 | 1 | -71.8 | -14.6 | 30.2 | -47.4 | -9.5 | -1882.5 | -12.2 | -1740.4 |
| LG Electronics India Ltd. | 1586.5 | 107687.2 | 63.9 | -2.7 | 4.4 | 22 | 12.4 | 24932.8 | 1.2 | 1685.1 | -23.5 | 24.8 | -23.5 |
| Dixon Technologies (India) Ltd. | 14200 | 86821.8 | 46.3 | 0.8 | 1.7 | 30.8 | 7.5 | 49585.8 | 27.5 | 1438.6 | 31.3 | 307 | 58.2 |
| Voltas Ltd. | 1285 | 42518.7 | 113.1 | -2 | 3 | 5.9 | 2.6 | 14482.6 | -8 | 375.9 | -55.3 | 11.4 | -55.3 |
| Blue Star Ltd. | 1514 | 31130.1 | 61.1 | -9.7 | 2.4 | 15.4 | 6.2 | 12463.9 | 3.5 | 527.7 | -10.8 | 24.8 | -6.3 |
| Amber Enterprises India Ltd. | 7435 | 26221.6 | 147.6 | -5.5 | 2.2 | 4.1 | 1.3 | 12306.6 | 22.5 | 177.6 | -27.1 | 50.4 | -27.1 |
Comrade Appliances INFORMATION ON IPO ISSUE
About Comrade Appliances
Comrade Appliances was incorporated on March 22, 2017. The company manufactures air coolers and electric geysers. It also makes consumer durable goods and assembles a wide array of products and provides end-to-end product solutions.
Object of the Issue
- Working capital requirements
- General corporate purposes
Comrade Appliances - PROMOTERS
| Name |
|---|
| M/s Troupe Technologies Private limited |
| Khursheed Alam |
| Mehboob Alam |
Comrade Appliances Lead Manager of the Issue
Gretex Corporate Services Limited
info@gretexgroup.com
Comrade Appliances Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Comrade Appliances Strengths
Strategic location
The company has set up its manufacturing unit in a strategic area of Maharashtra. Basic raw materials required are easily available in the industrial areas and the consumption of finished products is also done in the same area
Quality assurance
The company is dedicated to the quality of products, processes and input raw materials. It has been accredited with ISO 9001:2015 certification for quality management system
Comrade Appliances Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, promoters, directors and group companies. Any adverse decision in such proceedings may have an impact on the business
Intense competition
The company faces intense competition, which may limit its growth and prospects
IPO FAQs
The promoters of the company are M/s Troupe Technologies Private limited, Khursheed Alam and Mehboob Alam.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 52.0 - 54.0.
The IPO application opens on May 31, 2023 and closes on Jun 05, 2023.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 108,000.0, the maximum value for this IPO is Rs 108,000.0.
This IPO will be allotted on Jun 08, 2023.
The refund will be credited to your account on Jun 09, 2023.
The allotted shares will be credited to your demat on Jun 12, 2023.
Comrade Appliances Ltd.’s shares listed on the stock exchanges on Jun 13, 2023.