Abhay Doshi, founder of UnlistedArena.com, who tracks grey market trends, said that the stock was surprisingly trading at a premium of Rs 100 in the grey market on Friday.
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.
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