Stove Kraft IPO – Review, Dates, Allotment, Subscription, GMP & DRHP

Last Updated Date: Nov 17, 2022

Let’s have a detailed review of the company and analytics of the Stove Kraft IPO release date, IPO offer price, subscription, Stove Kraft IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Face Value	Rs 10
Price Band	Rs 384 to 385
Listing At	BSE, NSE
Min. Order Quantity	38 Shares
Listing Date	Feb 5, 2021
Offer for Sale	Rs NA MILLION
Fresh Issue	Rs 950 MILLION
IPO Size	Rs 4126.3 MILLION
Tick Size	1.00

Stove Kraft IPO is listed at NA premium, check out the live share price by clicking on the below link.

Stove Kraft Share Price – Live Performance

Summary of Stove Kraft IPO

Stove Kraft IPO Stove Kraft Limited are engaged in the manufacture and retail of a wide and diverse suite of kitchen solutions under the Pigeon and Gilma brands, and propose to commence manufacturing of kitchen solutions under the BLACK + DECKER brand, covering the entire range of value, semi-premium and premium kitchen solutions, respectively. They are kitchen solutions and an emerging home solutions brand.

Our kitchen solutions comprise of cookware and cooking appliances across our brands, and our home solutions comprise various household utilities, including consumer lighting, which not only enables us to be a one stop shop for kitchen and home solutions, but also offer products at different pricing points to meet diverse customer requirements and aspirations.

The Promoters of this company are Rajendra Gandhi and Sunita Rajendra Gandhi. The lead managers to the issue are Edelweiss Financial Services Limited, JM Financial Limited and the Registrar to this issue is KFin Technologies Private Limited.

Stove Kraft IPO Date

The opening and the closing date of Stove Kraft Limited IPO is January 25, 2021 and January 28, 2021.

Stove Kraft IPO Subscription

Day / Date	QIB	NII	RII	Total Subscription
1st Day – Jan 25	0.00x	0.05x	5.37x	0.99x
2nd Day – Jan 27	0.08x	1.85x	13.08x	2.93x
3rd Day – Jan 28	8.02x	32.72x	26.04x	18.03x
Shares Offered or Net Issue	3,215,260	1,607,629	1,071,753	5,894,642

The shares subscribed by the public will be updated herein on a daily basis.

Stove Kraft IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Stovr Kraft IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment Finalization	Feb 2, 2021
Refunds Initiation	Feb 3, 2021
Credit of Shares to Demat Account	Feb 4, 2021
Share Listing Date	Feb 5, 2021

Stove Kraft IPO Price Band / Cash Price

The face value of each share is Rs.10, but the price band of the IPO is Rs 384 to 385 .

Stove Kraft IPO Size

This Initial Public Issue of [●] Equity Shares of Rs.10 each for cash at a price of Rs 384 to 385 per equity share aggregating to 4126.3 Million.

Stove Kraft IPO Share Offering

Issue Size: Aggregating up to Rs. 4126.3 Million.

Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company of Rs.10 each at a price of Rs 384 to 385 per equity share aggregating to Rs.950 Million,

Offer for Sale : Offer for sale of up to 8,250,000 Eq Shares by the Promoter Selling Shareholder aggregating up to Rs.[●] million.

Stove Kraft IPO – Live Performance

The listing date of this IPO is Feb 5, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Stove Kraft Share Price

Stove Kraft IPO Grey Market Premium

The Stove Kraft Limited IPO Grey Market Premium price is Rs 75-80, the Kostak rate is Rs X and the Subject to Sauda is Rs 2000.

Stove Kraft Limited – Company Overview

Stove Kraft Limited are engaged in the manufacture and retail of a wide and diverse suite of kitchen solutions under their Pigeon and Gilma brands, and propose to commence manufacturing of kitchen solutions under the BLACK + DECKER brand, covering the entire range of value, semi-premium and premium kitchen solutions, respectively. They are kitchen solutions and an emerging home solutions brand. Further, they are one of the leading brands for kitchen appliances in India and are one of the dominant players for pressure cookers and a market leader in the sale of free standing hobs and cooktops .

Their kitchen solutions comprise of cookware and cooking appliances across their brands, and their home solutions comprise various household utilities, including consumer lighting, which not only enables us to be a one stop shop for kitchen and home solutions, but also offer products at different pricing points to meet diverse customer requirements and aspirations.

The Company is promoted by Rajendra Gandhi and Sunita Rajendra Gandhi and is the guiding force behind the growth and strategic decisions of the Company.

Stove Kraft Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

On the basis of standalone financial statement:

Amount (in INR & Million)
	30-Sep-20	30-Sep-19	31-Mar-20	Mar-19	31-Mar-18
Total Assets	4,984.99	4,934.77	4,712.91	4,257.26	3,936.42
Total Revenue	3,295.09	3,174.33	6,729.14	6,425.98	5,345.85
Total Expense	3,007.33	3,126.80	6,693.80	6,413.74	5,471.40
Profit After Tax	287.76	43.89	31.70	7.36	(120.18)

Earnings per Equity Share (in Millions)

Amount (in INR & Million)
	30-Sep-20	30-Sep-19	31-Mar-20	Mar-19	31-Mar-18
Basic & Diluted	11.64	1.77	1.28	0.33	(6.35)

From FY 2017-18 to FY 2019-2020, as per the Restated Financial Statements,

For the six month periods ended September 30, 2020, September 30, 2019 and Fiscals 2020 and 2019 our revenue from operations as per our Restated Financial Statements was Rs.3,288.36 million, Rs.3,155.07 million, Rs.6,698.61 million and Rs.6,409.38 million, respectively, EBITDA was Rs.450.63 million, Rs.187.55 million, Rs.337.92 million and Rs.298.22 million, respectively and restated profit for the period / year was, Rs.287.76 million, Rs.43.89 million, Rs.31.70 million and Rs.7.36 million, respectively.
Between Fiscals 2018 and 2020, our EBITDA increased from Rs.99.72 million in Fiscal 2018 to Rs.337.92 million in Fiscal 2020. Our EBITDA stood at Rs.450.63 million for the six month period ended September 30, 2020.

Stove Kraft IPO – Promoters

The Promoters of this company are:

Rajendra Gandhi
Sunita Rajendra Gandhi

List of Related Parties (Key Managerial Personnel)

Shashidhar SK, Chief Financial Officer
Rohit Mago, Chief Executive Officer
Hemant Kumar Kothari, Chief Business Analyst

Stove Kraft IPO – Promoter Holding

Pre Issue Share Holding 61.31%
Post Issue Share Holding 54.36%

Competitive Strengths of Stove Kraft Limited:

A one stop shop for well recognized, award winning portfolio of kitchen solutions brands with a diverse range of products across consumer preference;
Widespread, well connected distribution network with a presence across multiple retail channels and a dedicated after sales network
Strong manufacturing capability with efficient backward integration;
Consistent focus on quality and innovation;
Professional management with successful track record and extensive experience in the kitchen solutions industry, and a young and dynamic workforce;
Strong track record and financial stability.

Stove Kraft IPO Offer Details or Issue Details

Offer of Equity Shares	Up to [●] Eq Shares, aggregating up to Rs. [●] million
Of which:
Fresh Issue	Up to [●] Equity Shares, aggregating up to Rs. 950 million
Offer to Sale	Up to 8,250,000 Eq Shares, aggregating up to Rs. [●] million
The Offer consists of:
QIB Portion	Not less than [●] Equity Shares
Of which:
Anchor Investor Portion	Not more than [●] Eq Shares
QIB Portion (assuming the Anchor Investor Portion is fully subscribed)	[●] Equity Shares
Of which:
Mutual Fund Portion (5% of the QIB Portion)	[●] Equity Shares
Balance for all QIBs including Mutual Funds	[●] Eq Shares
Non-Institutional Portion	Not more than [●] Equity Shares
Retail Portion	Not more than [●] Eq Shares
Equity Shares outstanding prior to the Offer	30,080,631 Equity Shares
Equity Shares outstanding post to the Offer	[●] Equity Shares

Stove Kraft IPO Issue Object

These are the IPO Issue Objects of the company-

To meet the Working Capital Requirements
General Corporate Purposes

Business strategies of Stove Kraft Limited :

Increase their geographical reach and expansion of addressable market.
Scale up branding, promotional and digital activities.
Expand their portfolio in the existing product categories.
Invest in new plants and increase automation in existing manufacturing facilities.
Focus on and augment their LED consumer lighting business
Increase exports

Stove Kraft IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

A one stop shop for well recognized, award winning portfolio of kitchen solutions brands with a diverse range of products across consumer preference;
Widespread, well connected distribution network with a presence across multiple retail channels and a dedicated after sales network
Strong manufacturing capability with efficient backward integration;
Consistent focus on quality and innovation;
Professional management with successful track record and extensive experience in the kitchen solutions industry, and a young and dynamic workforce;
Strong track record and financial stability.

The relevant quantitative factors are:

On the basis of Standalone statement:-

	Basic & Diluted EPS	RONW (%)	NAV (Rs.)
31-Mar-20	1.05	2.51	41.84
31-Mar-19	0.27	0.60	–
31-Mar-18	(4.95)	NA	–

Competitive Peers:

Particulars	Face Value (in Rs.)	EPS (Basic In Rs.)	EPS (Diluted In Rs.)	P/E Ratio	NAV (Rs. per share)	RoNW (%)
Stove Kraft Limited	10	1.05	1.05	[●]	41.84	2.51%
TTK Prestige	10	133.13	133.13	44.93	942.56	14.12%
Hawkins Cookers	10	137.09	137.09	42.25	264.11	51.91%
Butterfly Gandhimathi Appliances	10	1.83	1.83	284.29	107.32	1.70%

Stove Kraft IPO Lead Managers

Lead Managers

Edelweiss Financial Services Limited

JM Financial Limited

Stove Kraft IPO – Registrar to the Offer

Registrar to the Offer

KFin Technologies Private Limited
Selenium, Tower B
Plot No. 31-32, Financial District
Nanakramguda, Srilingampally
Hyderabad Rengareddi 500 032
Telangana, India
Tel: +91 40 6716 2222
Fax: +91 40 2343 1551
E-mail: stovekraft.ipo@kfintech.com
Investor grievance e-mail: einward.ris.ipo@kfintech.com
Website: www.kfintech.com
Contact Person: M. Murali Krishna
SEBI Registration No.: INR000000221

Stove Kraft IPO – Other Details

Statutory Auditor – M/s Deloitte Haskins & Sells
Legal Counsel – Cyril Amarchand Mangaldas
Bankers to the Company – Standard Chartered Bank, ICICI Bank Limited

List of Upcoming IPOs in 2020

Stove Kraft IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review	Company Reputation	Competitive Edge	Financial Statement	Popularity Index	Promoters Reputation
Angel Broking	7.5/10	7.4/10	8.5/10	8.1/10	7.1/10
Sharekhan	7.2/10	7.1/10	8.6/10	8.1/10	7.2/10
Kotak Securities	7.3/10	7.5/10	8.4/10	8.1/10	7.3/10
ICICI Direct	7.3/10	7.3/10	8.7/10	8.1/10	7.1/10
IIFL	7.5/10	7.2/10	8.8/10	8.0/10	7.1/10
Edelweiss	7.5/10	7.4/10	8.4/10	8.3/10	7.2/10
Zerodha	7.4/10	7.1/10	8.5/10	8.1/10	7.0/10
5Paisa	7.1/10	7.1/10	8.4/10	8.1/10	7.1/10
Karvy	7.4/10	7.3/10	8.2/10	8.1/10	7.1/10
Motilal Oswal	7.1/10	7.1/10	8.6/10	8.3/10	7.2/10