Bookbuilding IPO | ₹54 Cr | Listed at NSE SME | Fri, Jun 23, 2023 - Tue, Jun 27, 2023
Greenchef Appliances IPO is a book build issue of ₹53.62 crores. The issue is entirely a fresh issue of 0.62 crore shares of ₹53.62 crore.
Greenchef Appliances IPO bidding started from Jun 23, 2023 and ended on Jun 27, 2023. The allotment for Greenchef Appliances IPO was finalized on Jul 3, 2023. The shares got listed on NSE SME on Jul 6, 2023.
Greenchef Appliances IPO price band is set at ₹87 per share. The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,39,200 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,78,400.
Hem Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Greenchef Appliances IPO RHP for detailed Information.
IPO Open
Fri, Jun 23, 2023
IPO Close
Tue, Jun 27, 2023
Issue Price
₹87 per share
Market Cap (Pre-IPO)
₹202.47 Cr
| IPO Date | 23 to 27 Jun, 2023 |
| Listed on | Thu, Jul 6, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹82 to ₹87 |
| Issue Price | ₹87 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 61,63,200 shares (agg. up to ₹54 Cr) |
| Reserved for Market Maker | 3,12,000 shares Hem Finlease Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 58,51,200 shares (agg. up to ₹51 Cr) |
| Net Offered to Public | 58,51,200 shares (agg. up to ₹51 Cr) |
| Share Holding Pre Issue | 1,71,08,640 shares |
| Share Holding Post Issue | 2,32,71,840 shares |
| NSE Symbol | GREENCHEF |
| ISIN | INE0O7P01015 |
Greenchef Appliances IPO comprises a total issue size of 61,63,200 shares. The net offer to the public is 58,51,200 shares, after excluding 3,12,000 shares allotted on a firm basis. Of the Net offer 29,23,200 (49.96%) are allocated to QIB, 8,78,400 (15.01%) allocated to NII 20,49,600 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 29,23,200 | 49.96% | 47.43% |
| − Anchor Investor Shares Offered | 17,52,000 | 28.43% | |
| − QIB (Ex. Anchor) Shares Offered | 11,71,200 | 19.00% | |
| NII (HNI) Shares Offered | 8,78,400 | 15.01% | 14.25% |
| Retail Shares Offered | 20,49,600 | 35.03% | 33.26% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,12,000 | 5.06% | |
| Total Shares Offered | 61,63,200 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,39,200 |
| Retail (Max) | 1 | 1,600 | ₹1,39,200 |
| HNI (Min) | 2 | 3,200 | ₹2,78,400 |
Greenchef Appliances IPO raises ₹15.24 crore from anchor investors. Greenchef Appliances IPO Anchor bid date is June 22, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Jun 22, 2023 |
| Shares Offered | 17,52,000 |
| Anchor Portion (₹ Cr.) | 15.24 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Aug 2, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Oct 1, 2023 |
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 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 179.54 | 142.23 | 125.63 |
| Total Income | 337.05 | 239.29 | 238.07 |
| Profit After Tax | 0.82 | 2.57 | 1.17 |
| NET Worth | 51.71 | 50.93 | 48.55 |
| Reserves and Surplus | 48.14 | 47.37 | 44.98 |
| Total Borrowing | 66.83 | 51.82 | 39.16 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding Capital Expenditure towards installation of additional plant and machinery | 5.15 |
| 2 | Funding Capital Expenditure towards construction of factory building | 25.00 |
| 3 | Funding of Working capital requirements | 10.00 |
| 4 | General Corporate Purpose | 8.68 |
| KPI | |
|---|---|
| ROE | 18.19% |
| ROCE | 12.52% |
| Debt/Equity | 0.99 |
| RoNW | 16.85% |
| PAT Margin | 0.23% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.97 | |
| P/E (x) | 14.87 | |
| Promoter Holding | 100.00% | 73.52% |
| Market Cap | ₹202.47 Cr. |
The Greenchef Appliances IPO is subscribed 44.89 times on June 27, 2023 7:29:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 17.11 | 29,23,200 | 5,00,06,400 |
| NII* | 96.01 | 8,78,000 | 8,42,94,400 |
| Retail | 62.63 | 20,49,600 | 12,83,68,000 |
| Total | 44.89 | 58,51,200 | 26,26,68,800 |
Total Application : 80,230
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees | 0.30 |
| 2 | Fees Payable to Registrar to the Issue | 0.02 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.05 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.06 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.03 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.14 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees, Underwriting fees and Miscellaneous Expenses) | 4.19 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹87.00 |
| Open | ₹104.00 |
| Low | ₹104.00 |
| High | ₹109.20 |
| Last Trade | ₹109.20 |
Lead Manager Reports
Greenchef Appliances IPO is a SME IPO of 61,63,200 equity shares of the face value of ₹10 aggregating up to ₹54 Crores. The issue is priced at ₹87 per share. The minimum order quantity is 1600.
The IPO opens on Fri, Jun 23, 2023, and closes on Tue, Jun 27, 2023.
MUFG Intime India Pvt.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 Fri, Jun 23, 2023 and closes on Tue, Jun 27, 2023.
Greenchef Appliances IPO lot size is 1600, and the minimum amount required for application is ₹1,39,200.
You can apply in Greenchef 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 Greenchef Appliances IPO will be done on Monday, July 3, 2023, and the allotted shares will be credited to your demat account by Wed, Jul 5, 2023. Check the Greenchef Appliances IPO allotment status.
The Greenchef Appliances IPO listing date is on Thu, Jul 6, 2023.
