The latest IPO from Stove Kraft Ltd.., one of India’s largest kitchen appliance manufacturers, is slated to open up to the public for subscription in the month of January, 2021. If you’re interested in knowing all the important Stove Kraft Ltd. IPO details, keep reading to find out more.
About the company
Stove Kraft Ltd. has been in existence since 1999 and has made itself a household name. The company is involved in the business of manufacturing and selling an extensive range of kitchen appliances and products. With more than 660 kitchen appliances and products in as many as three different brands to its name, Stove Kraft Ltd. is easily one of India’s largest and most well-known manufacturers in this space.
The company owns and operates under three primary brands - Pigeon, Gilima, and Black + Decker. All of the products that the company produces come from two manufacturing facilities situated in Karnataka (Bengaluru) and Himachal Pradesh (Baddi). With over 651 distributors spread across 27 states and 5 union territories, Stove Kraft Ltd. enjoys a strong brand presence. The company is also involved in exporting its products out to other countries such as Kenya, Sri Lanka, Fiji, Bahrain, USA, and Mexico, among others.
Stove Kraft Ltd. IPO details
Now that you’re acquainted with the company, here are some of the most important details of the upcoming IPO such as the Stove Kraft Ltd. IPO date and the Stove Kraft Ltd. IPO share price band.
Stove Kraft Ltd. IPO date
The new IPO from Stove Kraft Ltd. is slated to open up to the public for subscription on January 25, 2021. The issue would remain open for 3 days, and would come to a close on January 28, 2021.
Stove Kraft Ltd. IPO issue size
The total issue size of the latest IPO from the company is pegged at around Rs. 412.63 crores. The IPO issue consists of both a fresh issue of shares and an Offer for Sale (OFS) from the company’s promoters as well. The company plans to generate around Rs. 95 crores via a fresh issue of shares, whereas the remaining Rs. 317.63 crores would be from the OFS component.
Stove Kraft Ltd. IPO share price band
The Stove Kraft Ltd. IPO share price band has been notified to be from Rs. 384 to Rs. 385 per equity share. With the face value of the share being Rs. 10 per equity share, around Rs. 374 to Rs. 375 per equity share goes towards the share premium.
Stove Kraft Ltd. IPO listing
As with nearly all the new IPOs, the shares of the Stove Kraft Ltd. IPO would also be listed on both the premier exchanges of the country - the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Stove Kraft Ltd. IPO objectives
According to the Red Herring Prospectus (RHP) filed by the company, the net proceeds from this IPO issue are proposed to be used to further the following objectives:
For repaying the company’s borrowings either partially or in full
For general corporate purposes
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