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.
Greenchef Appliances IPO Details
| IPO Date | Jun 23, 2023 to Jun 27, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹82 to ₹87 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 6,163,200 shares (aggregating up to ₹53.62 Cr) |
| Fresh Issue | 6,163,200 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,108,640 |
| Share holding post issue | 23,271,840 |
| Market Maker portion | 312,000 shares Hem Finlease |
Greenchef Appliances IPO Reservation
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
Greenchef Appliances IPO Timetable (Tentative)
Greenchef Appliances IPO opens on Jun 23, 2023, and closes on Jun 27, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Friday, 23 June 2023 |
| Closing Date | Tuesday, 27 June 2023 |
| Basis of Allotment | Monday, 3 July 2023 |
| Initiation of Refunds | Tuesday, 4 July 2023 |
| Credit of Shares to Demat | Wednesday, 5 July 2023 |
| Listing Date | Thursday, 6 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 27, 2023 |
Greenchef Appliances IPO Lot Size
The Greenchef Appliances IPO lot size is 1600 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹139,200 |
| Retail (Max) | 1 | 1600 | ₹139,200 |
| HNI (Min) | 2 | 3,200 | ₹278,400 |
| Lot Size Calculator |
Greenchef Appliances IPO Promoter Holding
Mr. Sukhlal Jain, Mr. Praveen Kumar Sukhlal Jain, Mr. Vikas Kumar Sukhlal Jain, Mr. Hitesh Kumar Jain, and Mr. Vikas Kumar Sukhlal Jain HUF are the company promoters.
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.52% |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 12,562.89 | 23,807.17 | 117.26 | 4,854.57 | 4,498.14 | 3,916.06 |
| 31-Mar-21 | 14,223.39 | 23,929.33 | 257.10 | 5,093.27 | 4,736.84 | 5,182.39 |
| 31-Mar-22 | 17,953.59 | 33,704.52 | 82.09 | 5,170.68 | 4,814.25 | 6,682.81 |
| Amount in ₹ Lakhs |
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding Capital Expenditure towards the installation of additional plant and machinery, and the construction of the factory building,
- Funding of working capital requirement, and
- General Corporate Purpose.
Greenchef Appliances IPO Prospectus
Company Contact Information
Greenchef Appliances Limited
No. 477 E, IV Phase,
Peenya Industrial Area,
Bangalore – 560 058
Phone: +91-80-29564495
Email: info@greenchef.in
Website: https://www.greenchef.in/
Greenchef Appliances IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: greenchef.ipo@linkintime.co.in
Website: https://linkintime.co.in/