Greenchef Appliances was incorporated on June 18, 2010. The company specializes in manufacturing and marketing a diverse range of kitchen appliances under the brand name Greenchef.
| Bidding Dates |
|---|
| 23 Jun 2023 - 27 Jun 2023 |
| Subscription |
|---|
| 59.62x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,39,200 | 1 | 1 | 1600 | 6.2 M | ₹82 - ₹87 | 73.52 % | ₹505.4 M - ₹536.2 M | RHP DOC |
Greenchef Appliances IPO SUBSCRIPTION STATUS
27 Jun '23Greenchef Appliances IPO overall subscription rate was 59.62 times the total available shares
Greenchef Appliances IPO retail subscription rate was 83.14 times in the retail segment
Greenchef Appliances IPO non-institutional investor subscription rate was 127.87 times in the non-institutional investor category
Greenchef Appliances IPO Qualified Institutional Bidder subscription rate was 22.67 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
27 Jun 2023 (Day 3) | 83.14x | 127.87x | 22.67x |
26 Jun 2023 (Day 2) | 18.76x | 7.95x | 4.25x |
23 Jun 2023 (Day 1) | 2.09x | 1.89x | 3.27x |
Greenchef 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) | Margins |
| 9MFY23 | 102.2 | 2,548.3 | 174.3 | 73.5 | 6.9% |
| FY22 | 8.2 | 3,357.8 | 37.6 | -91.9 | 2.2% |
| FY21 | 25.7 | 2,389.9 | -54.9 | -73.6 | 3.6% |
| FY20 | 11.7 | 2,375.5 | -6.9 | -29.4 | 3.0% |
Greenchef Appliances IPO SUBSCRIPTION STATUS DETAILS
Greenchef Appliances had 6.2 M shares on offer
Greenchef Appliances IPO offer price was in the range ₹82 - ₹87
Greenchef Appliances IPO minimum Investment was ₹139200
Greenchef Appliances IPO issue size was ₹ 505.4 M - ₹ 536.2 M
Greenchef Appliances had a minimum lot size of 1600 Shares per application
Greenchef Appliances NUMBER OF SHARES ON OFFER
Greenchef Appliances IPO IMPORTANT DATES
| Issue Open Date | 23 Jun 2023 |
| Issue close Date | 27 Jun 2023 |
| Allotment Date | 03 Jul 2023 |
| Refund Date | 04 Jul 2023 |
| Demat Account Credit Date | 05 Jul 2023 |
| Listing Date | 06 Jul 2023 |
| Listing on Exchange(s) | NSE |
| Greenchef Appliances Allotment Status | Exchange |
Greenchef Appliances IPO subscription opened on 23 Jun 2023, and closed on 27 Jun 2023
IPO allotment for Greenchef Appliances was finalized on Monday, 03 Jul 2023
IPO listing for Greenchef Appliances was on NSE on Thursday, 06 Jul 2023
Greenchef Appliances IPO LISTING GAINS
| Issue Price (adjusted) | 87.0 |
| Listing Open Price | 104.0 |
| Listing Close Price | 109.2 |
| Listing Gain% | 19.5% |
| Current Gain% | -40.5% |
Greenchef 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Greenchef Appliances Ltd | 51.8 | 120.4 | -13.8 | 0.1 | 0.3 | -7.8 | -2.8 | 387.2 | 3.5 | -8.7 | -246.9 | -3.8 | -246.9 |
| Crompton Greaves Consumer Electricals Ltd. | 250 | 16094.7 | -71.9 | 0.5 | 1.9 | -8.2 | -4 | 8161.2 | 2.9 | -242.2 | -143.6 | -3.5 | -142.5 |
| V-Guard Industries Ltd. | 319.6 | 13966 | 38.3 | 1.5 | 2.2 | 13 | 8.3 | 5989.3 | 7 | 308.3 | -1.7 | 8.3 | 26.4 |
| TTK Prestige Ltd. | 616 | 8435.4 | 49.4 | 0.7 | 2.7 | 8.1 | 5.9 | 3040.9 | 9 | 160.6 | 42.8 | 12.5 | 75.5 |
| Cera Sanitaryware Ltd. | 6062 | 7818.5 | 38.5 | -2.2 | 3.7 | 13.9 | 10.4 | 2103 | 6.3 | 204.2 | -17.2 | 157.4 | -17.5 |
| IFB Industries Ltd. | 1404.4 | 5690.5 | 35.5 | 0.7 | 1 | 14.4 | 5.8 | 5652.6 | 10.3 | 143.6 | 20.7 | 39.6 | 49.2 |
Greenchef Appliances INFORMATION ON IPO ISSUE
About Greenchef Appliances
Greenchef Appliances was incorporated on June 18, 2010. The company specializes in manufacturing and marketing a diverse range of kitchen appliances under the brand name Greenchef.
Object 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
- General corporate purpose
Greenchef Appliances - PROMOTERS
| Name |
|---|
| Sukhlal Jain |
| Praveen Kumar Sukhlal Jain |
| Vikas Kumar Sukhlal Jain |
| Hitesh Kumar Jain |
| Vikas Kumar Sukhlal Jain HUF |
Greenchef Appliances Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Greenchef Appliances Registrar to the Issue
Link Intime India Private Limited
greenchef.ipo@linkintime.co.in
Greenchef Appliances Strengths
One-stop shop
The company offers a comprehensive range of kitchen solutions, catering to diverse consumer preferences, making it a one-stop shop for all kitchen needs
Emerging player
The company is rapidly gaining prominence in the Indian market for kitchen appliances, particularly in gas stoves, pressure cookers, wet grinders, non-stick cookware, induction cooktops, kettles, and rice cookers
Widespread distribution network
The company has a wide distribution network that reaches various retail stores and online platforms. They also have a dedicated team to provide customer support and assistance after the purchase
Greenchef Appliances Risks
Highly competitive markets
The company operates in highly competitive markets, and the scale and resources of some of the competitors may allow them to compete more effectively, which could result in a loss of market share
Dependent on two products
The company heavily relies on the sales of two key product verticals: gas stoves and pressure cookers
Negative cash flows
The company has faced negative cash flows from operations in recent times and may continue to experience negative cash flows in the future
IPO FAQs
The promoters of the company are Sukhlal Jain, Praveen Kumar Sukhlal Jain, Vikas Kumar Sukhlal Jain, Hitesh Kumar Jain and Vikas Kumar Sukhlal Jain HUF.
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 82.0 - 87.0.
The IPO application opens on Jun 23, 2023 and closes on Jun 27, 2023.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 139,200.0, the maximum value for this IPO is Rs 139,200.0.
This IPO will be allotted on Jul 03, 2023.
The refund will be credited to your account on Jul 04, 2023.
The allotted shares will be credited to your demat on Jul 05, 2023.
Greenchef Appliances Ltd’s shares listed on the stock exchanges on Jul 06, 2023.