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:
- Air Coolers
- Electric Geysers
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.
Comrade Appliances IPO Details
| IPO Date | May 31, 2023 to Jun 5, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹52 to ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,278,000 shares (aggregating up to ₹12.30 Cr) |
| Fresh Issue | 2,278,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 5,250,795 |
| Share holding post issue | 7,158,795 |
| Market Maker portion | 114,000 shares (Gretex Share Broking) |
Comrade Appliances IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
Note:
- Market Maker portion of 114,000 equity shares is added to NII Reservation.
- Total Shares offered: QIB+NII+RII.
Comrade Appliances IPO Timetable (Tentative)
Comrade Appliances IPO opens on May 31, 2023, and closes on Jun 5, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Wednesday, 31 May 2023 |
| Closing Date | Monday, 5 June 2023 |
| Basis of Allotment | Thursday, 8 June 2023 |
| Initiation of Refunds | Friday, 9 June 2023 |
| Credit of Shares to Demat | Monday, 12 June 2023 |
| Listing Date | Tuesday, 13 June 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 5, 2023 |
Comrade Appliances IPO Lot Size
The Comrade Appliances IPO lot size is 2000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
| Lot Size Calculator |
Comrade Appliances IPO Promoter Holding
M/s Troupe Technologies Private Limited, Mr. Khursheed Alam and Mr. Mehboob Alam are the company promoters.
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.35% |
Company Financials
| 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-Aug-22 | 2,272.21 | 1,559.15 | 100.45 | 602.88 | 85.61 | 1,080.74 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 0.18 |
| ROCE | 0.1 |
| Debt/Equity | 1.79 |
| EPS (Rs) | 0.99 |
| RoNW (%) | 7.71 |
Check Comrade Appliances IPO Peer Comparison here.
Objects of the Issue
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objectives:
- Working Capital Requirements
- General Corporate Purposes
Comrade Appliances IPO Prospectus
Company Contact Information
Comrade Appliances Limited
Shop No. 39, Ground Level I,
Dewan Centre, 183-186, S.V. Road, Jogeshwari West,
Mumbai – 400102
Phone: 022-66959545
Email: info@comrade.net.in
Website: http://www.comrade.net.in/
Comrade Appliances IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/