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

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 IPOStove 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:

  1. Rajendra Gandhi
  2. 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

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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

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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:
Investor grievance e-mail:

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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