
Greenchef Appliances IPO to open on June 23, price band fixed

New Delhi (India), June 21: The initial public offering (IPO) is scheduled to open on June 23 and conclude on June 27. The shares of the company will be listed on NSE Emerge, a platform for small and medium enterprises, the company said in a statement.
Greenchef Appliances is a kitchen solutions provider. The company is engaged in the business of manufacturing and marketing kitchen appliances under 20 categories.
The company has fixed a price band of Rs 82-87 per share. It is looking to raise Rs 53.62 crore through its initial share sale offer.
The book-running lead Manager to the IPO is Hem Securities. Each lot has 1600 shares.
The company’s revenue from operations in the first nine months of the financial year 2022-23 stood at Rs 254.82 crore, and net profit at Rs 10.21 crore.
The company has four manufacturing units, of which four are located in Karnataka and one in Himachal Pradesh. The company has more than 300 SKU’s. It has 450 distributors spread across 22 states and UTs. The company has 114 distributors in Uttar Pradesh, 61 in Tamil Nadu and 43 in Bihar.
The Company also sells its products through online platforms. Its products include gas stoves, pressure cooker, mixer grinder, wet grinders, electric rice cooker, induction cooktops, non-stick cookwares and gas cylinder trolley among others.
The gas stove segment generated 37 per cent of the revenue while pressure cooker 18 per cent. The mixer grinder generated 10 per cent of the revenue. The South India business accounts for 50 per cent of the overall revenue.
If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.
More Stories
Sonalika Achieves new Landmark with Highest ever overall market share of 16.3% in Nov’23; Also records highest overall growth of 23%, beating industry growth (est. 2%)
Sonalika has been steadily progressing ahead with its heavy duty tractors and has also surpassed 1 lakh tractor sales mark...
Deep Mine Infra Resources Limited: A Smart Bet for Savvy Investors in Pre-IPO Game
New Delhi (India), December 7: Infra & Finance World: Deep Mine Infra Resources Limited emerges as a key player, gearing up...
AirOK Air Purifiers Select Hind Digital Pvt. Ltd. as National Distributors to Expand in Government Sector Across India
New Delhi (India), December 7: In a strategic move to reinforce its presence in the government sector and expand its...
Voice of Crypto Partners With India’s Top Web3 Events
New Delhi (India), December 7: One thing that is constant in the realm of cryptocurrency is its dynamic and volatile...
U GRO Capital and Laghu Udyog Bharati partners to empower the MSMEs
New Delhi (India), December 7: U GRO Capital, a leading DataTech NBFC focused on MSME lending, and Laghu Udyog Bharati,...
Manforce Condoms collaborates with SAATHII in the commitment to eradicate AIDS by 2030
With the campaign, the brand aims to empower communities living with HIV New Delhi (India), December 7: Marking the occasion...