12,108,640 Equity Shares of Greenchef Appliances Limited are subject to a Lock-Up Agreement Ending on 9-JUL-2024.
July 08, 2024
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12,108,640 Equity Shares of Greenchef Appliances Limited are subject to a Lock-Up Agreement Ending on 9-JUL-2024. These Equity Shares will be under lockup for 375 days starting from 30-JUN-2023 to 9-JUL-2024.
Details:
Our Promoter, Vikas Kumar Sukhlal Jain HUF, have given written consent to include 50,00,000 Equity Shares held by him and subscribed by him as part of Promoters Contribution. Further, they have agreed not to sell or transfer or pledge or otherwise dispose of in any manner, the Promoters contribution, for a period of three years from the date of allotment in the Issue.
In terms of Regulation 238(b) and 239 of the SEBI (ICDR) Regulations, 2018, in addition to the Minimum Promoters contribution which is locked in for three years, as specified above, the entire pre-issue equity share capital constituting 1,21,08,640 Equity Shares shall be locked in for a period of one year from the date of allotment of Equity Shares in this Issue.
Greenchef Appliances Limited is engaged in the business of manufacturing and marketing of a range of kitchen appliances under the brand name of Greenchef. The Companyâs kitchen appliances include a range of solutions comprising of gas stoves, pressure cookers, mixer grinders, wet grinders, electric rice cooker, induction cooktops, non-stick cookware, such as tawa, fry pan, Kadai, biriyani pot, tadka pan, Paniyarakkal, Appamchetty, kettles, hose pipes, gas cylinder trolley and spin mop. The Company is also engaged in marketing of appliances, such as chimneys, stainless steel utensils, blenders, vegetable choppers, silicon gaskets, water bottles, fans, iron and others. The Company has three research and manufacturing units in Karnataka and Himachal Pradesh.