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Comrade Appliances IPO is a book build issue of ₹12.30 crores. The issue is entirely a fresh issue of 0.23 crore shares of ₹12.30 crore.
Comrade Appliances IPO bidding started from May 31, 2023 and ended on Jun 5, 2023. The allotment for Comrade Appliances IPO was finalized on Jun 8, 2023. The shares got listed on BSE SME on Jun 13, 2023.
Comrade Appliances IPO price band is set at ₹54.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,04,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,16,000.
Gretex Corporate Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Gretex Share Broking Pvt.Ltd..
Refer to Comrade Appliances IPO RHP for detailed Information.
| IPO Date | May 31, 2023 to June 5, 2023 |
| Listing Date | June 13, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹52 to ₹54 per share |
| Issue Price Final | ₹54 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 22,78,000 shares (aggregating up to ₹12.30 Cr) |
| Reserved for Market Maker | 1,14,000 shares Gretex Share Broking Pvt.Ltd. (aggregating up to ₹0.6156 Cr) |
| Net Offered to Public | 21,64,000 shares (aggregating up to ₹11.69 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 52,50,795 shares |
| Share Holding Post Issue | 75,28,795 shares |
Comrade Appliances IPO offers total 22,78,000 shares. Out of which 10,80,000 (47.41%) allocated to QIB, 4,32,000 (18.96%) allocated to QIB, 3,26,000 (14.31%) allocated to NII, 7,58,000 (33.27%) allocated to RII and 6,48,000 (28.45%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,14,000 (5.00%) |
| QIB Shares Offered | 10,80,000 (47.41%) |
| − Anchor Investor Shares Offered | 6,48,000 (28.45%) |
| − QIB (Ex. Anchor) Shares Offered | 4,32,000 (18.96%) |
| NII (HNI) Shares Offered | 3,26,000 (14.31%) |
| Retail Shares Offered | 7,58,000 (33.27%) |
| Total Shares Offered | 22,78,000 (100.00%) |
Comrade Appliances IPO raises ₹3.50 crore from anchor investors. Comrade Appliances IPO Anchor bid date is May 30, 2023. Comrade Appliances IPO Anchor Investors list
| Bid Date | May 30, 2023 |
| Shares Offered | 6,48,000 |
| Anchor Portion Size (In Cr.) | 3.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 8, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 6, 2023 |
Comrade Appliances IPO opens on May 31, 2023, and closes on June 5, 2023.
| IPO Open Date | Wed, May 31, 2023 |
| IPO Close Date | Mon, Jun 5, 2023 |
| Tentative Allotment | Thu, Jun 8, 2023 |
| Initiation of Refunds | Fri, Jun 9, 2023 |
| Credit of Shares to Demat | Mon, Jun 12, 2023 |
| Tentative Listing Date | Tue, Jun 13, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Jun 5, 2023 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,08,000 |
| Retail (Max) | 1 | 2,000 | ₹1,08,000 |
| HNI (Min) | 2 | 4,000 | ₹2,16,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
| 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-Mar-23 | 2,753.18 | 2,699.43 | 163.57 | 689.41 | 164.33 | 1,766.48 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Comrade Appliances IPO is ₹40.66 Cr.
| KPI | Values |
|---|---|
| ROE | 0.27% |
| ROCE | 0.16% |
| Debt/Equity | 1.96 |
| 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...
| Listing Date | June 13, 2023 |
| BSE Script Code | 543921 |
| NSE Symbol | |
| ISIN | INE0NXA01015 |
| Final Issue Price | ₹54 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹54.00 |
| Open | ₹87.00 |
| Low | ₹87.00 |
| High | ₹91.35 |
| Last Trade | ₹91.35 |
Comrade Appliances Ltd.
Shop No. 39, Ground Level I,
Dewan Centre, 183-186, S.V. Road, Jogeshwari West,
Mumbai - 400102
Mumbai, Maharashtra
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://ipo.bigshareonline.com/IPO_Status.html
Comrade Appliances IPO is a SME IPO of 22,78,000 equity shares of the face value of ₹10 aggregating up to ₹12.30 Crores. The issue is priced at ₹54 per share. The minimum order quantity is 2000.
The IPO opens on May 31, 2023, and closes on June 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 June 5, 2023.
Comrade Appliances IPO lot size is 2000, and the minimum amount required for application is ₹1,08,000.
You can apply in Comrade Appliances IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Comrade Appliances IPO will be done on Thursday, June 8, 2023, and the allotted shares will be credited to your demat account by Monday, June 12, 2023. Check the Comrade Appliances IPO allotment status.
The Comrade Appliances IPO listing date is on Tuesday, June 13, 2023.
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