Equity shares in Greenchef Appliances Limited will be issued via book-built issue in the company’s Initial Public Offering (IPO). The initial public offering (IPO) for Greenchef Appliances Limited is set for the week of June 23 – June 27, 2023.The issue is priced at ₹82 to ₹87 per share. The minimum order quantity is 1600 Shares. With a face value of Rs. 10, each of the 6,163,200 shares up for sale in the IPO may bring in as much as 53.62 Cr. for the company. Let’s learn more about their initial public offering scheduled for June of 2023.
About Greenchef Appliances Limited
Greenchef Appliances Limited, founded in 2010, is a company that manufactures and sells kitchen equipment under the Greenchef brand. Gas Stoves, Pressure Cookers, Mixer Grinders, Wet Grinders, Electric Rice Cooker, Induction Cooktops, Nonstick Cookwares such as Tawa, Fry Pan, Kadai, Biryani Pot, Tadka Pan, Paniyarakkal, Appamchetty, Kettles, Hose Pipes, Gas Cylinder Trolley and Spin Mop are among Greenchef’s kitchen appliances. Flipkart India Private Limited, Jiomart, Bigbasket, and Amazon Seller Services Private Limited sell the company’s items both offline and online.
Greenchef’s service staff consists of 130 service specialists spread throughout 13 states as of December 31, 2022. In addition, the corporation has designated 107 authorized service providers throughout 15 states. Greenchef Appliances has three production plants in Bengaluru, Karnataka, and one manufacturing plant in Parwanoo, Himachal Pradesh. The Parwanoo factory focuses on the production of gas stoves and hose pipes, for which the firm has a marketing arrangement with oil companies such as Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, and Bharat Petroleum Corporation Limited.
The production facilities are well connected with five strategically positioned Carrying and Forwarding (C&F) agencies in the states of Rajasthan, Maharashtra, Uttar Pradesh, Gujarat, and Bihar as of December 31, 2022. Furthermore, as of December 31, 2022, the company had approximately 450 distributors across 22 Indian states and three union territories.
Greenchef Appliances IPO Issue Details
| Issue Type | Book Built IPO Issue |
| Issue Opens | 23rd June 2023 |
| Issue Closes | 27th June 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 82 to Rs 87 Per Share |
| Issue Size | 6,163,200 Shares (Rs 53.62 crores) |
| Minimum Order Quantity | 1600 Shares |
| Listing | NSE, SME |
Purpose of the Issue
The company aims to use the net revenues of the offering to fund the following projects:
- To meet working capital requirements.
- General corporate expenses and issue expenses.
- Funding Capital Expenditure towards the installation of additional plant and machinery, and the construction of the factory building.
Greenchef Appliances Limited — Company Contact Details
- Registered & Corporate Office: No. 477 E, IV Phase, Peenya Industrial Area, Bangalore – 560 058
- Telephone: +91-80-29564495
- Website: https://www.greenchef.in/
Greenchef Appliances IPO – Lead Managers of the Issue
Hem Securities Limited
- Office Address: 904, A wing, 9th Floor, Naman Midtown, Senapati bapat marg, Elphinstone road, Lower Parel, Mumbai 400 013.
- Telephone: +91 22 49060000
- Email: ipoinfo@hemonline.com
Greenchef Appliances IPO – Registrar of the Issue
Link Intime India Private Ltd
- Telephone: +91-22-4918 6270
- Email: greenchef.ipo@linkintime.co.in
- Website: https://linkintime.co.in/
Greenchef 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 for necessary suggestions.
