Greenchef Appliances IPO: Check subscription status on Day 1, key dates, price band, among 10 things to know

Greenchef Appliances Ltd, a Bengaluru-based company is specialised in the production and marketing of kitchen appliances in the brown goods category of consumer durables.

In the kitchen tools segment, the company principally produces LPG gas stoves, pressure cookers, nonstick cookware and wet grinders. It has recently expanded into the manufacture of induction cooktops, irons, and other household goods.

The subscription period for the IPO will begin on Friday, June 23 and end on Tuesday, June 27. The shares of the company will be listed on NSE Emerge, a specialised market platform for small and medium-sized businesses.

A SME IPO is a fundraising procedure that allows a small or medium-sized business to go public like other, larger firms and also gives smaller businesses a platform to be listed on indices. The SME gets listed at BSE SME or NSE Emerge Platforms.

The requirements for a SME IPO are that (i) the post-issue paid-up capital must be less than ₹25 crores and (ii) the post-issue capital must be at least ₹1 crore.

Here are 10 key things to know about Greenchef Appliances Ltd SME IPO before opening:

Greenchef Appliances IPO Dates: The public issue opens on Friday June 23 and closes on Tuesday, June 27. The company will fix the basis of allotment on Monday, July 3 and initiate refunds on Tuesday, July 4. The credit of shares to investors’ demat account will take place on Wednesday, July 5. The anchor bids for the public issue began on Thursday, June 22.

Greenchef Appliances IPO Size: Greenchef Appliances IPO is a SME IPO with a total of 6,163,200 equity shares with a face value of ₹10 worth up to ₹53.62 crores.

Price Band: The issue is priced between ₹82 and ₹87 per share.

IPO Lot Size: The lot size for Greenchef Appliances' IPO is 1600 shares, with a minimum order quantity of.

Issue Details: The initial share offering involves a fresh issue of about 61.63 lakh shares. The company plans to collect ₹53.62 crore through an initial share sale offer at the high end of the price band.

Greenchef Appliances Listing: Greenchef Appliances' IPO is expected to go public on Thursday, July 6.

IPO Objective: 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.

IPO Lead Manager: Hem Securities is the IPO's book-running lead manager.

IPO Registrar: The registrar for the IPO is Link Intime India Private Ltd.

IPO Reservation: 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.

Greenchef Appliances IPO Subscription status

The SME initial public offering (IPO) of Greenchef Appliances Ltd was subscribed 1.96 times on Day 1.

On Day 1 of the subscription, the issue received positive response from Qualified Institutions Buyers (QIBs), who subscribed 2.47 times, followed by retail investors who subscribed the set portion 1.63 times, and non-institutional bidders (NII) portion received 1.07 times subscription, according to data on chittorgarh.com.

The company has received bids for 1,14,92,800 shares against 6,163,200 shares on offer, according to data on chittorgarh.com.