Greenchef Appliances Limited is mainly engaged in the business of manufacturing and marketing a wide range of kitchen appliances under the brand name Greenchef. Their kitchen appliances include products like 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. Greenchef Appliances Limited also markets appliances such as chimneys, stainless steel utensils, blenders, vegetable choppers, silicon gaskets, water bottles, fans, and irons.
Greenchef Appliances Limited is considered an emerging player in the Indian kitchen appliances market, particularly for gas stoves, pressure cookers, wet grinders, non-stick cookware, induction cooktops, kettles, and rice cookers. The company manufactures most of the core products required for their appliances, allowing them to maintain quality control and cost monitoring. However, they also source certain products from third-party manufacturers, both domestically and internationally, and ensure these products meet their specifications through inspections.
The company provides after-sales services for its products and has a dedicated service team and authorized service providers across various states in India. They utilize CRM software to track customer requests and ensure customer satisfaction. Greenchef Appliances Limited operates three manufacturing facilities in Bengaluru, Karnataka, and one facility in Parwanoo, Himachal Pradesh. The Parwanoo facility focuses on manufacturing gas stoves and hose pipes and has marketing agreements with oil companies such as Hindustan Petroleum Corporation Limited, Indian Oil Corporation Limited, and Bharat Petroleum Corporation Limited.
The manufacturing facilities of Greenchef Appliances Limited are ISO 9001:2015 accredited for quality management. They have established connections with five strategically located C&F agents in Rajasthan, Maharashtra, Uttar Pradesh, Gujarat, and Bihar. Additionally, they have around 450 distributors across 22 states and 3 union territories in India. These distributors are connected to a network of dealers who sell Greenchef Appliances Limited’s products through retail outlets.
The company is also an approved vendor for modern retail chains like DMART, Reliance Retail Limited, and StarBazaar, and their products are sold online through e-commerce platforms such as Flipkart, Jiomart, Bigbasket, and Amazon.
Greenchef Appliances Limited’s competitive strengths include offering a diverse range of kitchen solutions, starting as a small trading company and expanding into a manufacturing company with a wide product range. Their brand, Greenchef, caters to different customer budgets and lifestyles. The company’s co-branding initiatives with oil companies have helped them reach a wider customer base, particularly for their gas stoves. They have obtained design registrations for various products, reinforcing their commitment to diversification. Over the years, they have developed a wide range of SKUs for each product category.
Greenchef Appliances Limited IPO Complete Details:
| IPO Date | 23 June 2023 to 27 June 2023 |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Face Value | 10 Rs. Per Share |
| Price | 82 to 87 Rs. |
| Lot Size | 1600 |
| Issue Size | 6,163,200 shares (Rs 53.62 Cr) |
| Fresh Issue | 6,163,200 shares (Rs 53.62 Cr) |
| Listing Date | 06 July 2023 |
Greenchef Appliances Limited IPO Timetable:
| Activity | Date* |
|---|---|
| Opening Date | 23 June 2023 |
| Closing Date | 27 June 2023 |
| Allotment | 03 July 2023 |
| Initiation of Refunds | 04 July 2023 |
| Credit of Shares to Demat Account | 05 July 2023 |
| Listing Date | 06 July 2023 |
Company Financial Details:
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Borrowings |
|---|---|---|---|---|---|
| 31 March 2020 | 12,562.89 | 23,807.17 | 117.26 | 4,854.57 | 3916.06 |
| 31 March 2021 | 14,223.39 | 23,929.33 | 257.10 | 5,093.27 | 5182.39 |
| 31 March 2022 | 17,953.59 | 33,704.52 | 82.09 | 5170.68 | 6682.81 |
| 31 December 2022 | 25,633.47 | 1,021.55 | 6062.39 | 6027.47 |
Greenchef Appliances IPO Reservation:
| Category | No. Of Equity Shares |
|---|---|
| QIB | 29,23,200 |
| NII | 8,78,400 |
| RII | 20,49,600 |
| MM | 3,12,000 |
| TOTAL | 61,63,200 |
AS OF NOW, the GMP OF Greenchef Appliances Limited is Around 40 Rs.