Bookbuilding IPO | ₹413 Cr | Listed at BSE, NSE | Mon, Jan 25, 2021 - Thu, Jan 28, 2021
Stove Kraft IPO is a book build issue of ₹412.62 crores. The issue is a combination of fresh issue of 0.25 crore shares aggregating to ₹95.00 crores and offer for sale of 0.83 crore shares aggregating to ₹317.63 crores.
Stove Kraft IPO bidding started from Jan 25, 2021 and ended on Jan 28, 2021. The allotment for Stove Kraft IPO was finalized on Feb 2, 2021. The shares got listed on BSE, NSE on Feb 5, 2021.
Stove Kraft IPO price band is set at ₹385 per share. The lot size for an application is 38. The minimum amount of investment required by an retail is ₹14,630 (38 shares) (based on upper price). The lot size investment for sNII is 14 lots (532 shares), amounting to ₹2,04,820, and for bNII, it is 69 lots (2,622 shares), amounting to ₹10,09,470.
Edelweiss Financial Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Stove Kraft IPO RHP for detailed Information.
IPO Open
Mon, Jan 25, 2021
IPO Close
Thu, Jan 28, 2021
Issue Price
₹385 per share
Market Cap (Pre-IPO)
₹1,253.10 Cr
| IPO Date | 25 to 28 Jan, 2021 |
| Listed on | Fri, Feb 5, 2021 |
| Face Value | ₹10 per share |
| Price Band | ₹384 to ₹385 |
| Issue Price | ₹385 per share |
| Lot Size | 38 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,07,17,532 shares (agg. up to ₹413 Cr) |
| Fresh Issue | 24,67,532 shares (agg. up to ₹95 Cr) |
| Offer for Sale | 82,50,000 shares of ₹10 (agg. up to ₹318 Cr) |
| Share Holding Pre Issue | 3,00,80,631 shares |
| Share Holding Post Issue | 3,25,48,163 shares |
| BSE Script Code / NSE Symbol | 543260 / STOVEKRAFT |
| ISIN | INE00IN01015 |
Stove Kraft IPO comprises a total issue size of 1,07,17,532 shares. Out of which, 80,38,150 (75.00%) are allocated to QIB, 16,07,629 (15.00%) allocated to NII 10,71,753 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 80,38,150 | 75.00% | NA |
| − Anchor Investor Shares Offered | 48,22,890 | 45.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 32,15,260 | 30.00% | NA |
| NII (HNI) Shares Offered | 16,07,629 | 15.00% | NA |
| Retail Shares Offered | 10,71,753 | 10.00% | 28,204 |
| Total Shares Offered | 1,07,17,532 | 100.00% |
Investors can bid for a minimum of 38 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,630 |
| Retail (Max) | 13 | 494 | ₹1,90,190 |
| S-HNI (Min) | 14 | 532 | ₹2,04,820 |
| S-HNI (Max) | 68 | 2,584 | ₹9,94,840 |
| B-HNI (Min) | 69 | 2,622 | ₹10,09,470 |
Stove Kraft IPO raises ₹185.68 crore from anchor investors. Stove Kraft IPO Anchor bid date is January 22, 2021.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Jan 22, 2021 |
| Shares Offered | 48,22,890 |
| Anchor Portion (₹ Cr.) | 185.68 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Mar 4, 2021 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, May 3, 2021 |
Stove Kraft is one of the largest Kitchen appliance suppliers in India. The company manufactures and sells kitchen solutions under the brand name of "Pigeon" and "Gilima" brands and planning to manufacture value, premium, and semi-premium kitchen supplies under the "Black + Decker" brand. Its product portfolio has 660+ kitchen solutions including cookware, cooking appliances, household utilities, and others. In 2019, it also started manufacturing Pigeon LED products.
The company has a strong distribution network as under the "Pigeon" brand, it has 651 distributors in 27 states and 5 union territories and 12 distributors for exports and under the "Gilima" brand, it has 65 stores across 4 states and 28 cities. It not just distribute its products in the Indian market but also export them to countries like the USA, Mexico, Kenya, Qatar, Sri Lanka, Fiji, Bahrain, Kuwait, etc.
Stove Kraft has manufacturing facilities at Bengaluru (Karnataka) and Baddi (Himachal Pradesh). All Pigeon and Gilima branded appliances are manufactured at its Bengaluru unit and the Baddi facility focuses on Oil Company Business (OCB) to manufacture products like LPG stoves, inner lid cooker, etc.
Competitive strength
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/pre-payment, in full or part, of certain borrowings availed by our Company | 76.00 |
| 2 | General corporate purposes | 13.58 |
The Stove Kraft IPO is subscribed 18.03 times on January 28, 2021 5:00:00 AM (Day 3). The public issue subscribed 26.04 times in the retail category, 8.02 times in the QIB category, and 32.72 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 8.02 | 32,15,260 | 2,57,75,438 |
| NII | 32.72 | 16,07,629 | 5,26,01,234 |
| Retail | 26.04 | 10,71,753 | 2,79,06,706 |
| Total | 18.03 | 58,94,642 | 10,62,83,378 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 11.60 |
| 2 | Brokerage and selling commission for SCSBs, Banker to the Offer, Sponsor Bank, bids made by RIBs using UPI Mechanism(2), members of Syndicate, and Registered Brokers, RTAs and CDPs | 1.42 |
| 3 | Fees payable to the Registrar to the Offer | 0.07 |
| 4 | Fees payable to the other advisors to the Offer | 4.83 |
| 5 | Listing fees, SEBI filing fees, BSE & NSE processing fees, book building software fees | 2.45 |
| 6 | Printing and stationery | 0.79 |
| 7 | Advertising and marketing expenses | 1.18 |
| 8 | Miscellaneous | 1.00 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹385.00 | ₹385.00 |
| Open | ₹467.00 | ₹498.00 |
| Low | ₹435.05 | ₹435.00 |
| High | ₹495.55 | ₹498.00 |
| Last Trade | ₹445.95 | ₹445.95 |
Lead Manager Reports
Stove Kraft IPO is a main-board IPO of 1,07,17,532 equity shares of the face value of ₹10 aggregating up to ₹413 Crores. The issue is priced at ₹385 per share. The minimum order quantity is 38.
The IPO opens on Mon, Jan 25, 2021, and closes on Thu, Jan 28, 2021.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Stove Kraft IPO using UPI as a payment gateway. Zerodha customers can apply in Stove Kraft IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Stove Kraft IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Stove Kraft IPO opens on Mon, Jan 25, 2021 and closes on Thu, Jan 28, 2021.
Stove Kraft IPO lot size is 38, and the minimum amount required for application is ₹14,630.
You can apply in Stove Kraft IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Stove Kraft IPO will be done on Tuesday, February 2, 2021, and the allotted shares will be credited to your demat account by Thu, Feb 4, 2021. Check the Stove Kraft IPO allotment status.
The Stove Kraft IPO listing date is on Fri, Feb 5, 2021.
