3,745,026 Equity Shares of Comrade Appliances Limited are subject to a Lock-Up Agreement Ending on 29-JUN-2024.
June 29, 2024
Share
3,745,026 Equity Shares of Comrade Appliances Limited are subject to a Lock-Up Agreement Ending on 29-JUN-2024. These Equity Shares will be under lockup for 388 days starting from 7-JUN-2023 to 29-JUN-2024.
Details:
Our Promoters have given written consent to include 15,05,759 Equity Shares held by them and subscribed by them as part of Promoter?s Contribution constituting 20.00% of the post issue Equity Shares of our Company. Further, they have agreed not to sell or transfer or pledge or otherwise dispose of in any manner, the Promoter?s 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 Promoter?s contribution which is locked in for three years, as specified above, the entire pre-issue equity share capital constituting 38,19,036 Equity Shares shall be locked in for a period of one year from the date of allotment of Equity Shares in this Issue.
Comrade Appliances Limited is an India-based original equipment manufacturer/original design manufacturer (OEM/ODM) of various products. The Company's products include air coolers, electric geysers and washing machines. It offers various air coolers, such as personal air cooler and tower air cooler. Its personal air cooler products include Prim, Clammy and Wintry. The Company's tower air cooler products include Prim, Prim Digi, Prim Touch, OEM Mechanical, OEM DIGI and OEM TOUCH. The Company's instant electric geyser products include Prizma Water Heater, Roto Water Heater and Eco Water Heater. Its services include plastic molding, metal pressing, assembly and packaging, and product design. The Company is a specialist in delivering small, medium and large sized, high-precision, surface critical injection molded plastics components. It manufactures an extensive range of geyser part, ss tank assembly plate, cone/inner of fire extinguisher and stainless-steel items.