Comrade Appliances IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jun 05, 2023Let’s have a detailed review of the company and analytics of the Comrade Appliances IPO release date, IPO offer price, subscription, Comrade Appliances Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 52 to Rs 54 |
| Listing At | BSE, SME |
| Min. Order Quantity | 2000 Shares |
| Listing Date | 13 June 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs Lakh |
| IPO Size | Rs 1,230 Lakh |
| Tick Size | 1 |
Comrade Appliances IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Comrade Appliances Share Price |
Comrade Appliances IPO – Summary
Their Company is engaged in the process of manufacturing an extensive array of Air Coolers and Electric Geysers. They manufacture consumer durable goods and assemble a wide array of products and provide end-to-end product solutions.
They serve 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, who then further distribute these products under their own brands.
The Promoter of this company is M/s Troupe Technologies Private Limited, Mr Khursheed Alam and Mr Mehboob Alam. The lead manager of the issue is GRETEX CORPORATE SERVICES LIMITED, and the Registrar of this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Comrade Appliances IPO Date
The opening and closing dates of Comrade Appliances IPO are 31 May 2023 and 5 June 2023 respectively.
Comrade Appliances IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 31st May | 0.00x | 0.34x | 0.90x | 0.51x |
| 2nd Day – 1st Jun | 0.00x | 0.84x | 3.28x | 1.75x |
| 3rd Day – 2nd Jun | 0.01x | 2.68x | 9.42x | 5.11x |
| 4th Day – 5th Jun | 21.86x | 120.78x | 72.08x | 71.92x |
| Shares Offered or Net Issue | 432,000 | 440,000 | 758,000 | 1,630,000 |
The shares subscribed by the public will be updated here.
Comrade Appliances IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares are pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Comrade Appliances Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | 8 June 2023 |
| Refunds Initiation | 9 June 2023 |
| Credit of Shares to Demat Account | 12 June 2023 |
| Share Listing Date | 13 June 2023 |
Comrade Appliances IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 52 to Rs 54
Comrade Appliances IPO Equity Size
This Initial Public Issue of 2,278,000 Equity Shares of Rs.10 each for cash at a price of Rs 52 to Rs 54 per equity share aggregating to Rs.1,230 Lakh.
Comrade Appliances IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 2,278,000 Equity Shares of Rs.10/ each.
Issue Size: 2,278,000 Equity Shares of Rs.10 each, aggregating to Rs.1,230 Lakh
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Comrade Appliances IPO – Live Performance
The listing date of this IPO is 13 June 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Comrade Appliances Share Price |
Comrade Appliances IPO Grey Market Premium
The Comrade Appliances Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Comrade Appliances IPO – Company Overview
They have a manufacturing facility located at Palghar admeasuring 66,322 Sq Ft, which is strategically located in and around Mumbai (Maharashtra).
Their modern and state-of-art manufacturing facilities are equipped with high-quality machinery, assembly lines that enable them to meet the quality requirements of their customers in a timely manner.
In line with their focus to provide end-to-end product solutions and to develop better control of their supply chain and improve their margins. They have developed in-house capabilities in SMT lines, injection moulding, sheet metal components and testing labs.
They have equipped their facilities to improve their cost efficiency, reduce dependency on third-party suppliers and provide better control on production time and quality of critical components used in the manufacturing of products.
Comrade Appliances IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | ||||
| 31-Aug-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Total Assets | 2,272.21 | 2,527.34 | 3,140.65 | 1,678.98 |
| *Total Revenue | 1,559.15 | 2,973.28 | 2,603.85 | 2,162.29 |
| Total Expense | 1,424.68 | 2,918.96 | 2,575.37 | 2,111.45 |
| Profit After Tax | 100.45 | 38.77 | 20.21 | 41.80 |
Earnings per Equity Share (in Lakh)
| 31-Aug-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 1.94 | 0.99 | 0.61 | 1.37 |
Further, their PAT for the period ended on Aug 31, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 100.45 Lakh, Rs. 38.77 Lakh, Rs. 20.21 Lakh and Rs. 41.80 Lakh respectively.
Comrade Appliances IPO – Promoters
The Promoter of this company is:
- M/s Troupe Technologies Private Limited
- Mr Khursheed Alam
- Mr Mehboob Alam
List of Related Parties (Key Managerial Personnel)
- Khursheed Alam, Managing Director
- Shakir Khan, Executive Director
- Mehboob Alam, Non-Executive Director
- Sonu Dhariwal, Independent Director
- Rajan Agarwal, Independent Director
Comrade Appliances IPO – Promoters Holding
- Pre-Issue Share Holding – 100.00%
- Post-Issue Share Holding – 69.74%
Comrade Appliances IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 2,278,000 Equity Shares aggregating up to Rs.1,230 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to o 96,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to 18,12,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 52,50,795 Equity Shares |
| Equity Shares outstanding after the Issue | 71,58,795 Equity Shares |
Comrade Appliances IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Working Capital Requirements
- General Corporate Purposes
Comrade Appliances IPO – Business Strategy
- Focus on Increase in Volume of Sales
- Continue to focus on the ODM model
- Continue to strive for cost efficiency
- Focus on consistently meeting quality standards
- Increase Brand awareness
- Strategic Acquisition and Alliance Opportunities
Comrade Appliances IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Focus on Increase in Volume of Sales
- Continue to strive for cost efficiency
- Focus on consistently meeting quality standards
- Increase Brand awareness
- Strategic Acquisition and Alliance Opportunities
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 0.99 | 7.72 | 12.78 |
| 31-Mar-21 | 0.61 | 8.36 | 7.27 |
| Mar-20 | 1.37 | 14.25 | 9.58 |
Comrade Appliances IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Crores) | |
| Comrade Appliances Limited | 10 | [●] | 0.99 | 7.71 | 2,964.89 |
| Listed Peers | |||||
| Dixon Technologies (India) Limited | 2 | 104.72 | 25.63 | 21.90 | 7,48,441.00 |
| PG Electroplast Limited | 10 | 85.13 | 15.93 | 14.82 | 1,02,193.77 |
Comrade Appliances IPO Lead Managers
| Lead Managers |
| GRETEX CORPORATE SERVICES LIMITED Office No. 13, 1st Floor, New Bansilal Building, Raja Bahadur Mansion, 9-15, Homi Modi Street, Fort, Mumbai– 400001, Maharashtra, India. Tel No.: +91 96532 49863 Email: info@gretexgroup.com Website: www.gretexcorporate.com Contact Person: Ms. Dimple Magharam Slun SEBI Registration No: INM000012177 CIN: L74999MH2008PLC28812 |
Comrade Appliances IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED S6-2, 6th Pinnacle Business Park, Mahakali Caves Road, next to Ahura Centre, Andheri East, Mumbai- 400093, Maharashtra, India Tel No.: +91 – 22 – 6263 8200; Fax No.: +91 – 22 – 6263 8299 E-mail: ipo@bigshareonline.com Investor Grievance E-mail: investor@bigshareonline.com Website: www.bigshareonline.com Contact Person: Mr. Sagar Pathare SEBI Registration No.: INR000001385 CIN: U99999MH1994PTC076534 |
Comrade Appliances IPO – Other Details
- Statutory Auditor – M/s N B T & Co., Chartered Accountants
- Legal Counsel to the Company – M/S. M. V. KINI LAW FIRM
- Bankers to the Company – NA
Comrade Appliances IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Comrade Appliances Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Comrade Appliances IPO Review FAQs
Check out various FAQs related to Comrade Appliances IPO:
What is the Issue Size of Comrade Appliances IPO?
The Company is making an initial public offer of 2,278,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Comrade Appliances IPO?
The price band for this particular IPO ranges between Rs 52 to Rs 54. As far as the face value of the share is of concern, it is Rs. 10 per share.
What is the Comrade Appliances IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 31 May 2023, while the closing date is set at 5 June 2023.
What is the Comrade Appliances IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 8 June 2023, refund initiation is on 9 June 2023, credit of shares is on 12 June 2023, and share listing date is on 13 June 2023.
What is the Comrade Appliances IPO Listing Date?
Shares of this company shall be listed in the exchanges on 13 June 2023. The date, when the listing would be done, is stagnant on 13 June 2023.
Who is the Registrar of Comrade Appliances IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Comrade Appliances IPO?
Here are the promoters of this IPO – M/s Troupe Technologies Private Limited, Mr Khursheed Alam and Mr Mehboob Alam. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Comrade Appliances IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Comrade Appliances IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Comrade Appliances Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Lakh is 38.77, 2021 is 20.21, and 2020 is 41.80. PAT from Aug 2022 is 100.45.
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