Greenchef Appliances Ltd Company Summary

Greenchef Appliances Ltd Summary

Greenchef Appliances Limited was incorporated on June 18, 2010 vide Certificate of Incorporation, with the Registrar of Companies, Karnataka. Presently, the Company is engaged in manufacturing and marketing a wide range of kitchen appliances under the brand Greenchef, which include wide range of value for money solutions comprising of Gas Stoves, Pressure Cookers, Mixer Grinders, Wet Grinders, Electric Rice Cooker, Induction Cooktops, Non-stick cookwares like: Tawa, Fry Pan, Kadai, Biriyani Pot, Tadka Pan, Paniyarakkal, Appamchetty etc, Kettles, Hose Pipes, Gas Cylinder Trolley and Spin Mop. Further, it is also into the business of marketing appliances like: Chimney, Stainless Steel Utensils, Blenders, Vegetable Chopper, Silicon Gasket, Water Bottles, Fans, Iron etc. The major raw materials required in manufacturing activities include metals like aluminium, steel and copper.The Company started trading in kitchen appliances in 2013. It started manufacturing of Kitchen Appliances at Unit I Factory at Peenya Industrial Area; started production of Gas stoves at Parwanoo Factory in Himachal Pradesh in 2018, started manufacturing of Kitchen Appliances at Unit 2 and 3 Factory at Dabaspet, Banagalore in 2019; introduced Kettle production in 2021 and production of Electric Rice Cooker introduced in 2022. However, Greenchef Manufacturers and Distributors Private Limited and Modulus Springs Private Limited were erstwhile subsidiaries of the Company, which ceased to exist as subsidiaries of the Company w.e.f. November 15, 2022. There are some of the big multinational brands like Haier, Bosch and Midea who are in competition to the domestic players. These domestic players include both - organised and unorganised players. The growth trajectory in kitchen appliances industry has encouraged new entrants to enter into this industry with new business models.In June 2023, Company made an Initial Public Offer by issuing 61,63,200 Equity Shares of face value of Rs 10 each by raising funds aggregating to Rs 54 Crore through fresh issue.