Greenchef Appliances SME IPO lists at a premium of 20% on NSE SME

The stock was listed at ₹104 per share, 19.5 percent higher than the issue price of ₹87 on the NSE SME exchange.

The company set the price band in the range of ₹82 and ₹87 per share. The subscription period for the IPO began on Friday, June 23 and ended on Tuesday, June 27.

On Day 3 of the subscription, the issue received overwheming response from non-institutional bidders (NII) and portion set was subscribed 96.01 times. While the retail portion received 62.63 times subscription, and QIBs portion was subscribed 17.11 times, according to data on chittorgarh.com. The issue was subscribed 44.89 times on the final day. 

Greenchef Appliances IPO: Check subscription status on Day 3, key dates, and other details

The initial public offering consists of a fresh issue of about 61.63 lakh shares. The company plans to raise ₹53.62 crore through an initial share sale offer at the high end of the price band.

The proceeds from the IPO will be used to pay capital expenditure for the installation of new plant and machinery, the construction of a manufacturing facility, working capital requirements, and general corporate purposes.

Under the brand name Greenchef, the company manufactures and markets a large selection of kitchen appliances. Gas stoves, pressure cookers, and mixer grinders are just a few of the kitchen products it has.

The company has reserved 50% share of the net offer for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII) and 35% for Retail investors.

Hem Securities is the IPO’s book-running lead manager, and the registrar for the IPO is Link Intime India Private Ltd.

For the fiscal year that ended in March 2023, the company’s total revenue was ₹256 crore, and its net profit was ₹10.2 crore.

Updated: 06 Jul 2023, 10:08 AM IST