Stove Kraft Limited raises ₹185.68 crore from 32 anchor investors at an upper price band of ₹385 per equity share
Posted On: 2021-01-23 06:54:36 (Time Zone: Arizona, USA)
Stove Kraft Limited, one of the leading brands for kitchen appliances in India and one of the dominant players for pressure cookers and amongst the market leaders in the sale of free standing hobs and cooktops (Source: F&S Report, sponsored by the Company), allotted 48,22,890 equity shares to 32 anchor investors and raised ₹185.68 crore ahead of the company s proposed IPO at an upper price band of Rs 385 per equity shares.
The anchor allocation as follows:
Nippon Life India Trustee Ltd - A/C Nippon India Small Cap Fund - 10.77%
Stove Kraft mobilises over Rs 185 cr from anchor investors ahead of IPO
New Delhi, Jan 23: Stove Kraft Ltd, manufacturer of kitchen appliances, has raised a little over Rs 185 crore from anchor investors ahead of its initial public offer, which will open for subscription on Monday.
A total of 48,22,290 shares have been allotted to 32 anchor investors at Rs 385 apiece, which is the upper end of the price band. At this price, the company raised Rs 185.68 crore, according to a BSE circular issued late evening on Friday.
Among the anchor investors are Goldnan Sachs India, Nippon Life India Trustee, Bajaj Allianz Life Insurance Company, IIFL Special Opportunities Fund, Integrated Core Strategies Asia Pte Ltd and Sundaram Mutual Fund.
URL copied Image Source : STOVE KRAFT WEBSITE
Stove Kraft IPO to open on Jan 25: Check price band, offer for sale, anchor investors details and more
Stove Kraft Ltd, manufacturer of kitchen appliances, on Thursday said it has fixed a price band of Rs 384-385 a share for its initial public offer, which will open for subscription on January 25.
This would be the fourth company to launch an IPO in this year, after Indian Railway Finance Corporation which concluded on Wednesday, while Indigo Paints and Home First Finance Company are currently open for public subscription.
Stove Kraft s initial share-sale offer comprises a fresh issue of equity shares aggregating up to Rs 95 crore and an offer for sale of up to 82.50 lakh equity shares. The offer for sale comprises up to 6,90,700 shares by promoter Rajendra Gandhi; up to 59,300 shares by promoter Sunita Rajendra Gandhi; up to 14,92,080 shares by Sequoia Capital India Growth Investment Holdings and
Stove Kraft IPO: Check issue date, price band and other details
Stove Kraft IPO will open for subscription from January 25. It will be the fourth IPO to hit the market in January after IRFC, Indigo Paints and Home First Finance. Check out key details about the IPO:
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UPDATED: January 22, 2021 15:34 IST
The company is expected to use the proceeds from the IPO for repaying certain borrowings and funding general corporate expenses. (Photo: Reuters/Representational image)
Top kitchen solutions brand Stove Kraft will launch its initial public offering (IPO) for subscription on January 25. It will be the fourth IPO to hit the market in January after IRFC, Indigo Paints and Home First Finance.