1) Company overview
The company is engaged in the business of manufacturing and marketing of a wide range of kitchen appliances under the brand name of Greenchef. Its kitchen appliances include gas stoves, pressure cookers, mixer grinders among others.
2) Industry overview
The kitchen appliances industry in India is expected to grow at a CAGR of 8.7% during the period of 2022-2026 in terms of volumes. Factors such as increased technological advancements, cost and energy efficiency, leading to improved product awareness and a rise in demand from the tier-II and tier-III cities are expected to fuel growth.
3) Issue size
The IPO is completely a fresh issue of up to 61.63 lakh equity shares.
4) Issue structure
About 50% of the offer is reserved for the QIB category, 15% for non-institutional investors, and 35% for retail investors.5) Price band
The company had set the price band of Rs 82-87 per share, and investors can bid for 1,600 shares in 1 lot.
6) Financial performance
For the year ended March 2023, the company’s total income stood at Rs 256 crore and net profit came in at Rs 10.2 crore.
7) Objects of the offer
The proceeds from the public offering will be utilised for funding capital expenditure towards installation of additional plant and machinery, construction of factory building, working capital requirements and other general corporate purposes.
8) Booking running lead managers
HEM Securities is the book-running lead manager to the issue, and Link Intime India is the registrar.
9) Listing of shares
The company’s shares will get listed on the NSE Emerge platform
10) Important dates
The IPO opens on June 23 and closes on June 27. The final allotment will be made on July 3. The company’s shares will likely get listed on July 6.
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