Stove Kraft IPO To Open On January 25: All You Need To Know
Stove Kraft IPO: The shares are proposed to be listed on BSE and NSE.
Stove Kraft IPO: Stove Kraft will be launching its initial public offering (IPO) for subscription on Monday, January 25 in the price band of Rs 384-385 apiece. The Rs 412.62 crore IPO of the Bengaluru-based kitchen supplier will close on January 28, remaining open for a period of three days. The Stove Kraft IPO will be the fourth public issue of 2021 after the recently-concluded Indian Railway Finance Corp IPO, and the ongoing Home First Finance Company India and Indigo Paints IPOs. Stove Kraft IPO consists of fresh issue of shares worth Rs 95 crore and an offer-for-sale (OFS) of 82.50 lakh shares by investors and promoters.
The price band of the issue, being in the range of Rs 384-385 per share is of the face value of Rs 10 each. The minimum order quantity is 38 shares. As the Stove Kraft IPO market lot size is 38 shares, a retail-individual investor can apply for up to 13 lots, specifically 494 shares or Rs 190,190. The shares are proposed to be listed on BSE and NSE. The Stove Kraft IPO listing date is not yet announced.
Stove Kraft sells kitchen products under the brand name of Pigeon and Gilma. The company is planning to manufacture value, premium, and semi-premium kitchen supplies under the "Black + Decker" brand. Its product portfolio has more than 660 kitchen solutions including cookware, cooking appliances, household utilities, and others. In 2019, the company also started manufacturing Pigeon LED products.
The primary objectives of the Stove Kraft IPO are to make the repayment or prepayment payment of company's borrowings fully or partially and to meet general corporate purposes.