In the Initial Public Offering (IPO) for Comrade Appliances Limited, equity shares will be distributed through a book-built issuance. Comrade Appliances Limited’s IPO is scheduled for the week of May 31 – June 5, 2023. The IPO might generate as much as Rs. 12,30 Cr. if all 2,278,000 shares are sold at their face value of Rs 10. Let’s find out more about this upcoming IPO in May of 2023.
About Comrade Appliances Limited
Comrade Appliances Limited began production of its broad line of Air Coolers and Electric Geysers in 2017. The business is in the business of making and assembling products for the consumer market. They provide complete product solutions for their clients. Both the Original Equipment Manufacturer (OEM) and the Original Design Manufacturer (ODM) business models are in use at Comrade Appliances.
The original equipment manufacturer (OEM) business model involves producing and supplying items based on designs produced by customers, which are then resold under the OEM’s brand. Using the original design manufacturer (ODM) business model, Comrade Appliances Limited not only manufactures products but also helps customers with product development and design so that they can sell the products to end consumers under their own brand names.
Currently, the business sells the following consumer goods:
Electric Geysers and Air Conditioners
The “Comrade” brand name is used for all of the company’s marketing, production, and retail activities.
Comrade Appliances Limited IPO Issue Details
| Issue Type | Book Built IPO Issue |
| Issue Opens | 31st May 2023 |
| Issue Closes | 5th June 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 52 to Rs 54 Per Share |
| Issue Size | 2,278,000 Shares (Rs 12.30 crores) |
| Minimum Order Quantity | 2000 Shares |
| Listing | BSE, SME |
Purpose of the Issue
The net proceeds from the offering will be used by the company to accomplish the following goals:
- Working Capital Requirements
- General Corporate Purposes
Comrade Appliances Limited — Company Contact Details
- Registered & Corporate Office: Shop No. 39, Ground Level I, Dewan Centre, 183-186, S.V. Road, Jogeshwari West, Mumbai – 400102
- Telephone: 022-66959545
- Website: http://www.comrade.net.in/
Comrade Appliances Limited IPO – Lead Managers of the Issue
Gretex Corporate Services Pvt Ltd
- Office Address: Office No. 13, 1st Floor, Raja Bahadur Mansion, New Bansilal Building, 9 -15, HomiModi Street , Fort, Near BSE Ltd, Mumbai -400023
- Telephone:+91 22 6708 6181
- Email: ipo@gretexgroup.com
Comrade Appliances Limited IPO – Registrar of the Issue
Bigshare Services Pvt Ltd
- Telephone: +91-22-6263 8200
- Email: ipo@bigshareonline.com
- Website: https://www.bigshareonline.com/
Comrade Appliances Limited IPO Issue Prospectus
Click here to read the Final Prospectus of this IPO Issue.
Disclaimer: Investingly just provides basic information as update about the issues. Investingly never gives advices or recommendations to anyone. Investments into securities are subject to market risk. Please read the offer and issue documents carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
