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Stove Kraft IPO subscribed 2.9 times, HNIs portion fully booked on day 2 © Sunil Matkar Stove Kraft IPO subscribed 2.9 times, HNIs portion fully booked on day 2
The public issue of Stove Kraft, one of the largest Kitchen appliance suppliers in India, has subscribed 2.9 times on the second day of bidding, January 27.
The Rs 413-crore IPO has received bids for 1.7 crore equity shares against offer size of 58.94 lakh equity shares, the subscription data available on the exchanges showed. The offer size excluded anchor book portion which was finalised by the company with Rs 185 crore fund flow against equity shares issuance.
The retail investors remained at the forefront with subscription of 13.07 times against their reserved portion. The portion set aside for non-institutional investors was subscribed 1.85 times, while qualified institutional investors have put in 8.15 percent bids against the reserved portion.
Stove Kraft IPO opens today: Should you subscribe to the issue?
The Rs 412.62 crore IPO, that closes on January 28 comprises fresh issue of shares worth Rs 95 crore and an offer-for-sale (OFS) of up to 82.50 lakh equity shares
BusinessToday.In | January 25, 2021 | Updated 13:56 IST
Lot size of Stove Kraft IPO is 38 shares
The fourth public issue of the calendar year 2021, Stove Kraft initial public offer (IPO) is in progress on January 25. Price band has been fixed at Rs 384-385 per share.
Lot size of Stove Kraft IPO is 38 shares. A retail-individual investor can apply for multiples of 13 lots, thereafter for a minimum amount of Rs 14,630 and maximum of 494 shares for Rs 190,190. The book running lead managers to the IPO are Edelweiss Financial Services and JM Financial. KFin Technologies Private Ltd is the registrar to the issue. The company has already raised Rs 185 crore via anchor investors portion that was open for subscription on January 22, 2021.
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