The shares of Stove Kraft will be listed on the BSE and NSE on Friday. Stove Kraft is an Indian company that manufactures cooking appliances under Pigeon and Gilma brands. It was founded in 1999 and is headquartered in Bangalore.
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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.
Stove Kraft IPO: Here are 10 key things you must know before the issue opens tomorrow
Stove Kraft IPO comprises fresh issue of Rs 95 crore by the company and offer for sale of 82.50 lakh equity shares by promoters and investors at price band of Rs 384-385/share January 25, 2021 / 04:29 PM IST
Kitchen appliances maker Stove Kraft is set to open its initial public offering for subscription on January 25. It is the fourth company to launch IPO in the current month after Indian Railway Finance Corporation, Indigo Paints and Home First Finance Company.
The issue will close on January 28. Equity shares will be listed on both BSE and the National Stock Exchange. Edelweiss Financial Services and JM Financial are the book running lead managers to the offer.