IPO Details
Bidding Dates
30 May '23 - 04 Jun '23
Minimum Investment
₹108,000 / 1 Lots (2000 Shares)
Price Range
₹52-₹54
Maximum Investment
₹108,000 / 1 Lots (2000 Shares)
Retail Discount
Not Applicable
Issue Size
₹12.30 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
May 30, 2023
IPO Closing Date
Jun 4, 2023
Basis of Allotment
Jun 7, 2023
Initiation of Refunds
Jun 8, 2023
Credit of Shares to Demat Account
Jun 11, 2023
IPO Listing Date
Jun 12, 2023
UPI Mandatory Expiry Date
Jun 4, 2023
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1May 30, 2023 |
0.00 | 0.34 | 0.90 | 0.51 |
Day 2May 31, 2023 |
0.00 | 0.84 | 3.28 | 1.75 |
Day 3Jun 1, 2023 |
0.00 | 1.49 | 5.14 | 2.79 |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 0.00 |
| Non-Institutional Buyers | 1.49 |
| Retail Investors | 5.14 |
| Employees | [.] |
| Others | [.] |
| Total | 2.79 |
About Company
The consumer durable manufacturing company is involved in manufacturing air coolers and geysers. It operates under the original equipment manufacturer (OEM) and original design manufacturer (ODM) models, offering end-to-end product solutions to its customers.
Under the OEM model, the company manufactures and delivers products according to the specifications provided by clients. However, under the ODM model, it also offers conceptualisation and design solutions for the products to be marketed by its clients. The company’s four departments consist of:
- Production
- Moulding
- Administration
- Logistics
The company was incorporated in 2017, and since then, it has expanded its product portfolio and customer base. It has a manufacturing facility located in Palghar, Maharashtra.
It acquired M/s Troupe Technologies Pvt. Ltd. (TTPL) in 2021.
Comrade Appliances Limited IPO Details
Comrade Appliance has launched a DRHP to raise Rs. 12.30 crore from the market. The issue will contain fresh equity shares with a face value of Rs. 10. It is scheduled to open for bidding on May 31, 2023.
The book-building IPO price is set at Rs. 52–54 per share. Retail investors must apply for one lot with 2000 shares.
Comrade Appliances Limited IPO Objective
The objectives of Comrade Appliances Limited's IPO are listed below.
- To meet working capital needs
- For general corporate purposes
Should you invest in Comrade Appliances Limited?
Here are some critical reasons to consider before investing in the IPO:
- The company manufactures and markets various air coolers and geysers under the brand, Comrade.
- It works in both OEM and ODM models to diversify revenue streams.
- Comrade Appliances has forged robust, long-term relationships with top-tier customers.
Competitive Peers
Other listed players in the domain as recognised by the company in DRHP are Dixon Technologies (India) and PG Electroplast Ltd.
Company Financials
| Particulars | Year ending on August 31, 2022 (₹ Lakh) | Year ending on March 31, 2022 (₹ Lakh) | Year ending on March 31, 2021 (₹ Lakh) |
|---|---|---|---|
| Profit After Tax (PAT) | 1,555.36 | 2,964.89 | 2,600.49 |
| Profit After Tax (PAT) | 100.45 | 38.77 | 20.21 |
| EBITDA | 220.43 | 293.60 | 191.16 |
| EPS | 1.94 | 0.99 | 0.61 |
Know before investing
Strengths
3-
Strategically located manufacturing unit with an easy supply of raw materials.
-
A constant focus on R&D.
-
A dedicated and efficient team of professional technicians helped build a diversified product portfolio.
Risks
3-
There are outstanding legal proceedings against the promoters, directors, and groups of companies. The verdicts in these cases can impact the business.
-
The business is seasonal in nature. Sales rise during the summer.
-
The underutilisation of production capacity in the previous fiscal years is a challenge for the company.
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Comrade Appliances IPO FAQs
The Comrade Appliances Ltd. IPO contains 22.78 lakh fresh equity shares for Rs. 12.30 crore. The price band is fixed at Rs. 52–54 per share, and the bidding window will open on May 31, 2023.
The Basis of Allotment will happen on June 8, 2023.
The lot size for Comrade Appliances Ltd. is 2000 equity shares for one lot.
The IPO subscription window will open on May 31, 2023.
Retail investors can apply for a minimum of one lot.
Comrade Appliances Ltd. IPO will list on the NSE exchange on June 13, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP.
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is June 13, 2023, for Comrade Appliances Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
The minimum order size for the Comrade Appliances Limited IPO is 2000 shares per lot.
