Synopsis
The Rs 413 crore IPO, which ran from January 25 to January 28, was subscribed 18 times.
Analysts said that the Stove Kraft IPO was priced at 34.5 times PE on a trailing basis.
NEW DELHI: Kitchen appliance maker Stove Kraft got listed at Rs 467 on BSE on Friday, a premium of 21.30 per cent over the issue price. On NSE, the stock debuted at Rs 498, up 29.35 per cent from the issue price.
The Rs 413-crore IPO, which ran from January 25 to January 28, was subscribed 18 times, with non-institutional investors bidding 32.72 times the allocated quota of shares.
The issue comprised a fresh issue of up to Rs 95 crore and an offer for sale of up to 82.50 lakh equity shares. The price range for the offer was at Rs 384-385 apiece. Stove Kraft had raised a little over Rs 185 crore from anchor investors.