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.
Stove Kraft IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Summary of 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. This Offer of up to [●] Equity Shares for cash at price of Rs. [●] (including a premium of Rs. [●] aggregating to Rs. [●] million comprising of a Fresh Issue of up to [●] Equity Shares aggregating to Rs. 1,450.00 million by their Company and Offer for Sale of up to 7,163,721 Equity Shares aggregating to Rs. [●] million by the Selling Shareholders. The Offer will constitute [●]% of the post Offer paid-up Equity Share capital of their Company.
From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,
- As per their Restated Financial Statements, from Fiscal 2014 to Fiscal 2018, their revenue increased at a CAGR of 0.91%, their EBITDA increased at a CAGR of 101.06% between Fiscal 2015 and Fiscal 2018 (excluding Fiscal Year 2014, where they made an EBITDA Loss of Rs. 35.80 million).
- Their net worth was Rs. (1,786.56) million as on March 31, 2018, as per the Restated Consolidated Financial Statements and Rs. (1,780.96) million as on Fiscal 2018, as per the Restated Standalone Financial Statements.
- Their net asset value per Equity Share was Rs. (94.53) as at March 31, 2018, as per the Restated Consolidated Financial Statements and was Rs. (94.23) as at March 31, 2018 as per the Restated Standalone Financial Statements.
- Between Fiscals 2014 and 2018, the loss after tax for the year has decreased from Rs. 304.69 million in Fiscal 2014 to Rs. 127.62 million in Fiscal 2018.
The Promoters of this company are Rajendra Gandhi and Sunita Rajendra Gandhi. The lead manager to the issue are Edelweiss Financial Services Limited, IDFC Bank Limited, JM Financial Limited and the Registrar to this issue is Karvy Computershare Private Limited.
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Stove Kraft IPO Date
The opening and the closing date of Stove Kraft Limited IPO is not known yet.
Stove Kraft IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1 | ||||
| Day 2 | ||||
| Day 3 | ||||
| Day 4 | ||||
| Day 5 | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Stove Kraft IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Stove Kraft IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Stove Kraft IPO Equity Share Offering
This Offer of up to [●] Equity Shares for cash at price of Rs. [●] (including a premium of Rs. [●] aggregating to Rs. [●] million comprising of a Fresh Issue of up to [●] Equity Shares aggregating to Rs. 1,450.00 million by the Company and Offer for Sale of up to 7,163,721 Equity Shares aggregating to Rs. [●] million by the Selling Shareholders.
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.
As of August 31, 2018, they manufacture 68.61% of their Pigeon and Gilma branded products (in terms of number of units) at their well-equipped and backward integrated manufacturing facilities at Bengaluru (Karnataka) and Baddi (Himachal Pradesh), which enables us to control and monitor the quality and costs. As of March 31, 2018, it had an installed annual production capacity of 15 million units, with the capability to manufacture products in the pressure cookers, non-stick cookware (roller coated and spray coated), LPG stoves, mixer grinders and induction cooktops categories.
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.
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.
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 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) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 5,732.34 | 5,179.31 | 4,864.49 | 4,234.64 | 4,109.56 |
| Total Revenue | 5,345.83 | 5,178.39 | 3,560.98 | 3,486.46 | 3,506.53 |
| Total Expense | 5,473.61 | 5,371.92 | 4,001.64 | 3,610.61 | 3,811.41 |
| Profit After Tax | (127.78) | (192.68) | (440.66) | (124.23) | (304.88) |
Earnings per Equity Share (in Millions)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Basic & Diluted | (6.76) | (10.19) | (23.32) | (6.57) | (16.13) |
From the above statements, one could find that the Stove Kraft Limited may perform well.
Stove Kraft IPO – Promoters
The Promoters of this company are:
- Rajendra Gandhi
- Sunita Rajendra Gandhi
List of Related Parties (Key Managerial Personnel)
- Senthil Kumar R
- Venkitesh N
- Rajendra Gandhi
- Neha Gandhi
- Shashidhar SK
- Tamal Krishna Chaudhuri
- Kamal Aneja
- Ravikumar Mylsamy
- Rohit Mago
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Stove Kraft IPO Offer Details or Issue Details
| Offer of Equity Shares | Up to [●] Equity Shares, aggregating up to Rs. [●] million |
| Of which: | |
| Fresh Issue | Up to [●] Equity Shares, aggregating up to Rs. 1,450.00 million |
| Offer to Sale | Up to 71,63,721 Equity Shares, aggregating up to Rs. [●] million |
| The Offer consists of: | |
| QIB Portion |
Up to [●] Equity Shares |
| Of which: | |
| Anchor Investor Portion | Not more than [●] Equity 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 | [●] Equity Shares |
| Non-Institutional Portion | Not more than [●] Equity Shares |
| Retail Portion | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Offer | [●] 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
List of Upcoming IPOs in 2018
| Pommys Garments IPO | Indo US Biotech IPO | Medibios Laboratories IPO | Hariom Pipe IPO |
| R R Industrial IPO | Sorich Foils IPO | 20 Microns IPO | Shree Vasu Logistics IPO |
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-16 | (23.32) | 30.06 | – |
| 31-Mar-17 | (10.19) | 11.63 | – |
| 31-Mar-18 | (6.76) | 7.17 | (94.53) |
- Industry P/E Ratio:
| Particulars | P/E ratio |
| Average | 51 |
| Highest | 94 |
| Lowest | 28 |
- 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 | (6.74) | (6.74) | – | (94.53) | (7.14) |
| TTK Prestige | 10 | 227.46 | 227.46 | 28 | 882.75 | 25.8 |
| Hawkins Cookers | 10 | 92.06 | 92.06 | 32 | 207.69 | 44.3 |
| Butterfly Gandhimathi Appliances |
10 | 2.82 | 2.82 | 94 | 100.79 | 2.7 |
List of Latest IPOs of 2018
| Fine Organic IPO | IndoStar Capital IPO | Capricorn Food Products IPO | Flemingo Travel Retail IPO |
| Nazara Technologies IPO | Genius Consultants IPO | Rail Vikas Nigam IPO | Varroc Engineering IPO |
Stove Kraft IPO Lead Managers
| Lead Managers |
| Edelweiss Financial Services Limited
IDFC Bank Limited JM Financial Limited |
| Registrar to the Offer |
| Karvy Computershare Private Limited Karvy Selenium, Tower B Plot 31-32, Gachibowli Financial District, Nanakramguda Hyderabad 500 032 Tel: +91 40 6716 2222 Fax: +91 40 2343 1551 E-mail: [email protected] Investor grievance e-mail: [email protected] Website: www.karvy.com Contact Person: M. Murali Krishna SEBI Registration No.: INR00000022 |
Other Details:
- Statutory Auditor – M/s Deloitte Haskins & Sells
- Peer Review Auditor – M/s Deloitte Haskins & Sells
- Bankers to the Company – Standard Chartered Bank
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 |
Stove Kraft IPO Grey Market Premium
The Stove Kraft IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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Stove Kraft IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
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