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Greenchef Appliances IPO GMP, Price, Dates & Allotment Details 2023

Greenchef Appliances IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Greenchef Appliances IPO will open on June 23 and close on June 27, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 53.62 crores through this public offering, consisting of 61.63 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 82 to ₹ 87 per share.

Greenchef Appliances Limited (“the Company”)

Greenchef Appliances Limited was incorporated in 2010. A company engaged in manufacturing and marketing a wide range of kitchen appliances under the brand name Greenchef. Its kitchen appliances include a wide range of solutions, comprising gas stoves, pressure cookers, mixer grinders, wet grinders, electric rice cookers, induction cooktops, non-stick cookware like tawas, fry pans, kadai, biriyani pots, tadka pans, paniyarakkal, appamchetty, etc., kettles, hose pipes, gas cylinder trolleys, and spin mop.

Further, the company is also engaged in the marketing of appliances like chimneys, stainless steel utensils, blenders, vegetable choppers, silicone gaskets, water bottles, fans, irons, etc.

The company has three manufacturing facilities located in Bengaluru, Karnataka, and one manufacturing facility located in Parwanoo, Himachal Pradesh.

As of December 31, 2022, company manufacturing facilities are well connected with five strategically located C&F agents in the states of Rajasthan, Maharashtra, Uttar Pradesh, Gujarat, and Bihar. Additionally, as of December 31, 2022, they had around 450 distributors in 22 states and 3 union territories in India.

Further, they have approved vendors of various modern retail chains such as DMART, Reliance Retail Limited, and StarBazaar for the sale of our products from several of their retail outlets in India. Its products are also sold online through e-commerce platforms such as Flipkart India Private Limited, Jiomart, Bigbasket, and Amazon Seller Services Private Limited.

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. Funding capital expenditure towards the installation of additional plant and machinery and the construction of the factory building,
  2. Funding of the working capital requirement, and
  3. General corporate purpose.

Financial Highlights (Restated)

ParticularsFY 2021-22FY 2020-21FY 2019-20
Net Worth5,1715,0934,855
Total Assets17,95414,22312,563
Reserve & Surplus4,8144,7374,498
Total Borrowings6,6835,1823,916
Total Revenue33,70523,92923,807
Profit After Tax82257117
(Amount in ₹ Lakhs)

IPO details

As per the DRHP filed with SEBI, 61.63 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 312,000 shares of the offering. While Hem Securities Limited will be the lead manager for the IPO, Link Intime India Private Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.

Issue TypeBook Built Issue IPO
IPO Price₹ 82 to ₹ 87 per share
Face Value₹ 10 per share
Market Lot1,600 shares
Issue Size6,163,200 shares (aggregating up to ₹ 53.62 crores)
Fresh Issue6,163,200 shares (aggregating up to ₹ [.] crores)
Listing AtNSE SME
Company PromotersMr. Sukhlal Jain, Mr. Praveen Kumar Sukhlal Jain, Mr. Vikas Kumar Sukhlal Jain,
Mr. Hitesh Kumar Jain, and Mr. Vikas Kumar Sukhlal Jain HUF

Market Maker

Market makerHEM Finlease
Market maker portion312,000 shares

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net offer
NII (HNI) shares offeredNot less than 15% of the offer
Retail shares offeredNot less than 35% of the offer

GMP: Greenchef Appliances IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Greenchef Appliances IPO

The issue opens for subscription on June 23, 2023, and closes for subscription on June 27, 2023 (both days inclusive). The basis of allotment will be finalised on July 3, 2023, and the refunds will be initiated on July 4, 2023. In addition, the demat credits are expected to happen on July 5, 2023, and the stock will be listed on the NSE SME on July 6, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateJune 23, 2023,
Closing DateJune 27, 2023
Basis of AllotmentJuly 3, 2023
Initiation of RefundsJuly 4, 2023
A credit of shares to Demat A/cJuly 5, 2023
Listing DateJuly 6, 2023

Lot Size: Greenchef Appliances IPO

The lot size of the Greenchef Appliances IPO is 1,600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,600 shares of ₹ 139,200.

ApplicationsLotsSharesAmount
Retail (Minimum)11,600₹ 139,200
Retail (Maximum)11,600₹ 139,200
HNI (Minimum)23,200₹ 278,400

Promoters Holdings 

Pre-issue Shares Holdings100%
Post-issue Shares Holdings73.52%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationGreenchef Appliances Limited
No. 477 E, IV Phase, Peenya Industrial Area, Bangalore – 560 058
Phone: +91-80-29564495
Email: [email protected]
Website: https://www.greenchef.in/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/
IPO Lead Manager(s)Hem Securities Limited

FAQs

The Greenchef Appliances IPO price is ₹ 82 to ₹ 87 per share.

The minimum investment size is one lot for retail investors. One lot of the Greenchef Appliances IPO contains 1,600 shares of ₹ 139,200.

The finalisation of the basis of allotment for the Greenchef Appliances IPO will be done on July 3, 2023, and the allotted shares will be credited to your demat account by July 5, 2023. Check the Greenchef Appliances IPO allotment status.

The Greenchef Appliances IPO shares listing date is July 6, 2023.

The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.

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