31 Mar 2020
Assets16.79
Total Income21.62
Profit After Tax0.42
NET Worth2.93
Reserves and Surplus-0.39
Total Borrowing4.01
At a glance
Updated 2026-09-17The shares listed at ₹87.00, a 61.11% move from the issue price. Comrade Appliances is a SME IPO with an issue size of ₹12.30 crore, proposed for listing on BSE SME. The offer opens on 31st May 2023 and closes on 5th Jun 2023. The issue structure includes a fresh issue of ₹11.69 crore. The current listing schedule points to 13th Jun 2023.
Issue details
Listing atBSE SME
Issue typeBook Build Issue
Issue size₹12.30 Cr
Fresh issue₹11.69 Cr
Face value₹10
Price band₹52.00–₹54.00
Allotment8th Jun 2023
Listing13th Jun 2023
Listing performance
Full performance ↗Issue price₹54.00
Listing price₹87.00
Current price—
Listing gain61.11%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹25.00
GMP / upper price46.30%
Est. listing₹79.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens31st May 2023
Closes5th Jun 2023
Allotment8th Jun 2023
Refund9th Jun 2023
Demat12th Jun 2023
Listing13th Jun 2023
Subscription demand
Full bidding ↗Total77.25×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 2000 | ₹108,000 |
Company
Incorporated2017
Use of proceeds
| Object | Amount |
|---|---|
| Working Capital Requirements | ₹7.20 Cr |
| General Corporate Purposes | ₹2.31 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue26.99₹ Cr · -9.2% vs prior year
PAT1.64₹ Cr · +320.5% vs prior year
Assets27.53₹ Cr · +8.9% vs prior year
Net Worth6.89₹ Cr · +37.3% vs prior year
Borrowing17.66₹ Cr · +58.5% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore31 Mar 2021
Assets31.41
Total Income26.04
Profit After Tax0.20
NET Worth2.42
Reserves and Surplus-0.91
Total Borrowing14.12
31 Mar 2022
Assets25.27
Total Income29.73
Profit After Tax0.39
NET Worth5.02
Reserves and Surplus-0.15
Total Borrowing11.14
31 Mar 2023
Assets27.53
Total Income26.99
Profit After Tax1.64
NET Worth6.89
Reserves and Surplus1.64
Total Borrowing17.66
KPIs
| KPI | Mar 31, 2023 |
|---|---|
| ROE | 0.27% |
| ROCE | 0.16% |
| Debt / Equity | 1.96% |
| RoNW | 23.73% |
| PAT Margin | 6.00% |
Valuation & shareholding
Pre-IPO EPS3.15
Pre-IPO P/E17.14
Promoter holding pre100%
Promoter holding post69.74%
Market cap₹40.66 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Comrade Appliances IPO | — | 24.88 x | — | — |
| Skytech Infinite IPO | — | 18.00 x | — | — |
| Advance Technoforge IPO | — | 21.16 x | — | — |
| Susan Electricals IPO | — | 14.15 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Payment to the Book Running Lead Manager | ₹0.21 Cr |
| Underwriting Fees | ₹1.23 Cr |
| Market Making Fees | ₹0.03 Cr |
| Fees payable to Registrar to Issue | ₹0.01 Cr |
| Fees to Legal Advisor | ₹0.02 Cr |
| Advertisement Expenses | ₹0.04 Cr |
| Fees payable to Regulators including Stock Exchange | ₹0.04 Cr |
| Printing & Distribution Expenses | ₹0.01 Cr |
| Marketing, Selling & Consulting Expenses | ₹1.20 Cr |
| Payment to Sponsor Bank | ₹0.01 Cr |
| Statutory & Other Reports | ₹0.02 Cr |
Registrar & lead managers
Registrar
Bigshare Services Pvt.Ltd.Lead managers
- Gretex Corporate Services Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-17.
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