IPO Details

Bidding Dates

31 May '23 - 05 Jun '23

Minimum Investment

₹108,000 / 1 Lots (2000 Shares)

Price Range


Maximum Investment

₹108,000 / 1 Lots (2000 Shares)

Retail Discount

Not Applicable

Issue Size

₹12.30 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Non-Institutional Investors  |   Retail Individual Investors  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 31, 2023

IPO Closing Date

Jun 5, 2023

Basis of Allotment

Jun 8, 2023

Initiation of Refunds

Jun 9, 2023

Credit of Shares to Demat Account

Jun 12, 2023

IPO Listing Date

Jun 13, 2023

UPI Mandatory Expiry Date

Jun 5, 2023

IPO Subscription Details


Day 1May 31, 2023

0.00 0.34 0.90 0.51

Day 2Jun 1, 2023

0.00 0.84 3.28 1.75

Day 3Jun 2, 2023

0.00 1.49 5.14 2.79

IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutions Buyers 0.00
Non-Institutional Buyers 1.49
Retail Investors 5.14
Employees [.]
Others [.]
Total 2.79

About Company

The consumer durable manufacturing company is involved in manufacturing air coolers and geysers. It operates under the original equipment manufacturer (OEM) and original design manufacturer (ODM) models, offering end-to-end product solutions to its customers. 

Under the OEM model, the company manufactures and delivers products according to the specifications provided by clients. However, under the ODM model, it also offers conceptualisation and design solutions for the products to be marketed by its clients. The company’s four departments consist of:

  • Production
  • Moulding 
  • Administration 
  • Logistics 

The company was incorporated in 2017, and since then, it has expanded its product portfolio and customer base. It has a manufacturing facility located in Palghar, Maharashtra.

It acquired M/s Troupe Technologies Pvt. Ltd. (TTPL) in 2021. 

Comrade Appliances Limited IPO Details

Comrade Appliance has launched a DRHP to raise Rs. 12.30 crore from the market. The issue will contain fresh equity shares with a face value of Rs. 10. It is scheduled to open for bidding on May 31, 2023. 

The book-building IPO price is set at Rs. 52–54 per share. Retail investors must apply for one lot with 2000 shares.

Comrade Appliances Limited IPO Objective 

The objectives of Comrade Appliances Limited's IPO are listed below.

  • To meet working capital needs
  • For general corporate purposes 

Should you invest in Comrade Appliances Limited?

Here are some critical reasons to consider before investing in the IPO:

  • The company manufactures and markets various air coolers and geysers under the brand, Comrade. 
  • It works in both OEM and ODM models to diversify revenue streams.
  • Comrade Appliances has forged robust, long-term relationships with top-tier customers.

Competitive Peers 

Other listed players in the domain as recognised by the company in DRHP are Dixon Technologies (India) and PG Electroplast Ltd.

Company Financials

Particulars Year ending on August 31, 2022 (₹ Lakh) Year ending on March 31, 2022 (₹ Lakh) Year ending on March 31, 2021 (₹ Lakh)
Profit After Tax (PAT) 1,555.36 2,964.89 2,600.49
Profit After Tax (PAT) 100.45 38.77 20.21
EBITDA 220.43 293.60 191.16
EPS 1.94 0.99 0.61

Know before investing


  1. Strategically located manufacturing unit with an easy supply of raw materials.

  2. A constant focus on R&D.

  3. A dedicated and efficient team of professional technicians helped build a diversified product portfolio.


  1. There are outstanding legal proceedings against the promoters, directors, and groups of companies. The verdicts in these cases can impact the business.

  2. The business is seasonal in nature. Sales rise during the summer.

  3. The underutilisation of production capacity in the previous fiscal years is a challenge for the company.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Comrade Appliances IPO FAQs

What is Comrade Appliances Limited's IPO?

The Comrade Appliances Ltd. IPO contains 22.78 lakh fresh equity shares for Rs. 12.30 crore. The price band is fixed at Rs. 52–54 per share, and the bidding window will open on May 31, 2023. 

When will Comrade Appliances Limited's IPO allotment be available?

The Basis of Allotment will happen on June 8, 2023.

What will be Comrade Appliances Limited's IPO lot size?

The lot size for Comrade Appliances Ltd. is 2000 equity shares for one lot.

When will Comrade Appliances Limited's IPO open for subscription?

The IPO subscription window will open on May 31, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot.

When will Comrade Appliances Limited list on exchanges?

Comrade Appliances Ltd. IPO will list on the NSE exchange on June 13, 2023.

How do I check the allotment status of the Comrade Appliances Limited IPO?

 Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  •  Validate with an OTP.
  • Enter your application number, DP ID, and PAN number into the app
  • Click on ‘Submit’

What would be the listing gains on the Comrade Appliances Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is June 13, 2023, for Comrade Appliances Ltd.

I have finished the application process for the Comrade Appliances Limited IPO, but the funds are not yet debited. What is the reason?

The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Comrade Appliances Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Comrade Appliances Limited using one PAN?

You can submit only one application using your PAN card.

What is the minimum order quantity for the Comrade Appliances Limited IPO?

The minimum order size for the Comrade Appliances Limited IPO is 2000 shares per lot.