Greenchef Appliances IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jun 30, 2023Let’s have a detailed review of the company and analytics of the Greenchef Appliances IPO release date, IPO offer price, subscription, Greenchef 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 82 to Rs 87 |
| Listing At | NSE, SME |
| Min. Order Quantity | 1600 Shares |
| Listing Date | 6 July 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs Lakh |
| IPO Size | Rs 5,362 Lakh |
| Tick Size | 1 |
Greenchef Appliances IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Greenchef Appliances Share Price |
Greenchef Appliances IPO – Summary
We are engaged in the business of manufacturing and marketing a wide range of kitchen appliances under the brand name of Greenchef. Our kitchen appliances include a wide range of solutions comprising Gas Stoves, Pressure Cookers, Mixer Grinders, Wet Grinders, Electric Rice Cooker, Induction Cooktops, Non-stick Cookwares like Tawa, Fry Pans, Kadai, Biriyani Pot, Tadka Pan, Paniyarakkal, Appamchetty etc, Kettles, Hose Pipes, Gas Cylinder Trolley and Spin Mop.
Further, our company is also engaged in the marketing of appliances like chimneys, Stainless Steel Utensils, Blenders, Vegetable Chopper, Silicon gaskets, Water Bottles, Fans, Iron etc.
The Promoter of this company is Sukhlal Jain, Praveen Kumar Sukhlal Jain, Vikas Kumar Sukhlal Jain, Hitesh Kumar Jain and Vikas Kumar Sukhlal Jain HUF. The lead manager of the issue is HEM SECURITIES LIMITED, and the Registrar of this issue is LINK INTIME INDIA PRIVATE LIMITED.
Greenchef Appliances IPO Date
The opening and closing dates of Greenchef Appliances IPO are 23 June 2023 and 27 June 2023 respectively.
Greenchef Appliances IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 23rd Jun | 2.47x | 1.07x | 1.63x | 1.96x |
| 2nd Day – 26th Jun | 3.21x | 5.64x | 14.31x | 7.46x |
| 3rd Day – 27th Jun | 17.11x | 96.01x | 62.58x | 44.88x |
| Shares Offered or Net Issue | 2,923,200 | 878,000 | 2,049,600 | 6,163,200 |
The shares subscribed by the public will be updated here.
Greenchef Appliances IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares 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.
Greenchef Appliances Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | 3 July 2023 |
| Refunds Initiation | 4 July 2023 |
| Credit of Shares to Demat Account | 5 July 2023 |
| Share Listing Date | 6 July 2023 |
Greenchef Appliances IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 82 to Rs 87.
Greenchef Appliances IPO Equity Size
This Initial Public Issue of 6,163,200 Equity Shares of Rs.10 each for cash at a price of Rs 82 to Rs 87 per equity share aggregating to Rs.5,362 Lakh.
Greenchef Appliances IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 6,163,200 Equity Shares of Rs.10/ each.
Issue Size: 6,163,200 Equity Shares of Rs.10 each, aggregating to Rs.5,362 Lakh
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Greenchef Appliances IPO – Live Performance
The listing date of this IPO is 6 July 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Greenchef Appliances Share Price |
Greenchef Appliances IPO Grey Market Premium
The Greenchef Appliances Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Greenchef Appliances IPO – Company Overview
We manufacture the majority of core products like: railing pipe, mixing tube, brass burner, pan support etc required in Gas Stoves, weight valve and vent tube required in pressure cookers, mixi motor and jars required in Mixer Grinders etc.
This enables us to control and monitor the quality and costs of these products. For certain product categories and sub-categories, we engage in sourcing from third party manufacturers both domestically and from outside India.
For sourced products, we have a dedicated team to undertake inspection and ensure that such products are built to suit our specifications in terms of design and quality. We also provide after sales services in relation to our products. These services include repairs and maintenance of sold goods and installation Services.
Our service charges vary from type of services (In warranty, out – of warranty), place of service (Home service, dealer location service) and on the nature or type of the product.
Greenchef 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-Dec-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Total Assets | 20,329.62 | 17,953.59 | 14,223.39 | 12,562.89 |
| *Total Revenue | 25,633.47 | 33,704.52 | 23,929.33 | 23,807.17 |
| Total Expense | 24,289.87 | 33,588.38 | 23,553.53 | 23,675.26 |
| Profit After Tax | 1,021.55 | 82.09 | 257.10 | 117.26 |
Earnings per Equity Share (in Lakh)
| 31-Dec-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 5.97 | 0.45 | 1.47 | 0.65 |
Further, their PAT for the period ended on Dec 31, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 1,021.55 Lakh, Rs. 82.09 Lakh, Rs. 257.10 Lakh and Rs. 117.26 Lakh respectively.
Greenchef Appliances IPO – Promoters
The Promoter of this company is:
- Sukhlal Jain,
- Praveen Kumar Sukhlal Jain,
- Vikas Kumar Sukhlal Jain,
- Hitesh Kumar Jain
- Vikas Kumar Sukhlal Jain HUF
List of Related Parties (Key Managerial Personnel)
- Sukhlal Jain, Chairman & Whole Time Director
- Praveen Kumar Sukhlal Jain, Managing Director
- Vikas Kumar Sukhlal Jain, Whole Time Director
- Hitesh Kumar Jain, Whole Time Director
- Kavitha Kumari, Non-Executive Director
Greenchef Appliances IPO – Promoters Holding
- Pre-Issue Share Holding – 100.00%
- Post-Issue Share Holding – 73.52%
Greenchef Appliances IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 61,63,200 Equity Shares aggregating up to Rs.[●] Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 3,12,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to 58,51,200 Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 20,49,600 Equity Shares |
| Other than Retail Individual Investors | Not more than 8,78,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,71,08,640 Equity Shares |
| Equity Shares outstanding after the Issue | 2,32,71,840 Equity Shares |
Greenchef Appliances IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Funding Capital Expenditure towards installation of additional plant and machinery.
- Funding Capital Expenditure towards construction of factory building
- Funding of Working capital requirements
- General Corporate Purpose.
- Issue expenses.
Greenchef Appliances IPO – Business Strategy
- Increase our geographical reach and expansion of the addressable market
- Capitalize on increasing indigenization, commercialization and policy initiatives in the industry.
- Scale up branding, promotional and digital activities
Greenchef 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:
- A one stop shop for kitchen solutions with a diverse range of products across consumer preferences
- Emerging player in some of the key verticals
- Widespread, well connected distribution network with a presence across multiple retail channels and online ecommerce platforms and a dedicated after-sales network.
- Strong manufacturing capability with efficient backward integration
- Consistent focus on quality
- Experienced Promoter and management team
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 0.45 | 1.48 | 30.22 |
| 31-Mar-21 | 1.47 | 4.93 | 29.77 |
| Mar-20 | 0.65 | 2.30 | 28.37 |
Greenchef Appliances IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Crores) | |
| Greenchef Appliances Limited | 10 | [●] | 0.45 | 1.48% | 33,704.52 |
| Listed Peers | |||||
| TTK Prestige Limited | 1 | 32.75 | 21.99 | 18.89% | 2,75,750.00 |
| Hawkins Cookers Limited | 10 | 40.03 | 158.64 | 43.00% | 96,387.31 |
| Stove Kraft Limited | 10 | 25.10 | 17.21 | 16.86% | 1,13,479.30 |
Greenchef Appliances IPO Lead Managers
| Lead Managers |
| HEM SECURITIES LIMITED 904, A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, India Tel. No.: +91- 022- 49060000; Fax No.: +91- 022- 22625991 Email: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com Website: www.hemsecurities.com Contact Person : Roshni Lahoti SEBI Regn. No. INM000010981 |
Greenchef Appliances IPO Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED Address: C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli West, Mumbai 400 083, Maharashtra, India. Tel No.: +91 810 811 4949 Fax: +91 22 4918 6191 Email: greenchef.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan Website: www.linkintime.co.in SEBI Registration Number: INR000004058 |
Greenchef Appliances IPO – Other Details
- Statutory Auditor – M/s Patel Shah And Joshi, Chartered Accountants
- Legal Counsel to the Company – Mindspright Legal
- Bankers to the Company – Canara Bank
Greenchef 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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Greenchef Appliances Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Greenchef Appliances IPO Review FAQs
Check out various FAQs related to Greenchef Appliances IPO:
What is the Issue Size of Greenchef Appliances IPO?
The Company is making an initial public offer of 6,163,200 equity shares. We 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 Greenchef Appliances IPO?
The price band for this particular IPO ranges between Rs 82 to Rs 87. As far as the face value of the share is of concern, it is Rs. 10 per share.
What is the Greenchef Appliances IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 23 June 2023, while the closing date is set at 27 June 2023.
What is the Greenchef Appliances IPO Allotment Date?
We also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on 3 July 2023, refund initiation is on 4 July 2023, credit of shares is on 5 July 2023, and share listing date is on 6 July 2023.
What is the Greenchef Appliances IPO Listing Date?
Shares of this company shall be listed in the exchanges on 6 July 2023. The date, when the listing would be done, is stagnant on 6 July 2023.
Who is the Registrar of Greenchef Appliances IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. LINK INTIME INDIA PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Greenchef Appliances IPO?
Here are the promoters of this IPO – Sukhlal Jain, Praveen Kumar Sukhlal Jain, Vikas Kumar Sukhlal Jain, Hitesh Kumar Jain and Vikas Kumar Sukhlal Jain HUF. 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 Greenchef Appliances IPO?
We 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 Greenchef Appliances IPO Good for Investment?
We 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 Greenchef Appliances Company?
We have the information on company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2022 in Lakh is 82.09, 2021 is 257.10, and 2020 is 117.26. PAT from Dec 2022 is 1,021.55.
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