Greenchef Appliances Ltd IPO

About Greenchef Appliances Ltd

Greenchef Appliances is a prominent Indian company engaged in the manufacturing and marketing of a diverse range of kitchen appliances. Under the brand name Greenchef, the company offers a comprehensive selection of kitchen solutions to meet the needs of its customers. Their product portfolio includes Gas Stoves, Pressure Cookers, Mixer Grinders, Wet Grinders, Electric Rice Cookers, Induction Cooktops, Non-stick Cookware, Kettles, Hose Pipes, Gas Cylinder Trolleys, and Spin Mops.

The company has positioned itself as an emerging player in the Indian market for kitchen appliances. They have gained recognition and trust in the industry for their quality products and affordable pricing. With a focus on meeting diverse customer requirements, Greenchef offers its products at different pricing points, ensuring accessibility to a wide range of consumers.

Greenchef Appliances has embraced the growing trend of e-commerce and sells its products on popular online platforms such as Flipkart India Private Limited, Jiomart, Bigbasket, and Amazon Seller Services Private Limited. This online presence allows them to reach a larger customer base and expand their market reach.

Greenchef Appliances Limited IPO Details

Greenchef Appliances Limited IPO is a 100% fresh issue of 6,163,200 equity shares aggregating up to ₹53.62 Cr. The offer has its price band set between ₹82 to ₹87 per share, and the lot size is 1600. The opening date for Greenchef Appliances Limited IPO is Friday, 23 June 2023 and the closing date is Tuesday, 27 June 2023. The IPO will list on the NSE.

Greenchef Appliances Limited IPO Objective 

The objectives of Greenchef Appliances Limited's IPO are listed below:

• Funding capital expenditure towards the installation of additional plant and machinery. 
• Funding capital expenditure towards the construction of factory building.
• Funding of working capital requirement.
• General corporate purpose.

Competitive Peers

TTK Prestige Limited, Hawkins Cookers Limited, Stove Kraft Limited and Butterfly Gandhimathi Appliances Limited are the listed peer companies operating in the same business line.

Highlights of Greenchef Appliances Ltd

• In terms of manufacturing, Greenchef Appliances Limited operates three facilities located in Bengaluru, Karnataka, and one in Parwanoo, Himachal Pradesh. The Parwanoo facility focuses on the production of Gas Stoves and hose pipes. These manufacturing capabilities allow the company to maintain quality control and meet the demands of the market effectively.
• To ensure customer satisfaction, the company has established a robust customer support system. They have a dedicated service team comprising 130 technicians across 13 states, as of December 31, 2022. Additionally, they have appointed 107 authorised service providers across 15 states to cater to customer needs promptly. The company utilises CRM software to track customer requests and provide efficient after-sales support.
• Greenchef Appliances Limited has also established marketing agreements with renowned oil companies such as Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, and Bharat Petroleum Corporation Limited. This collaboration helps strengthen their distribution network and provides additional marketing opportunities for their products.