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.
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.
From FY 2016-17 to FY 2018-2019, as per the Restated Financial Statements,
- As of October 31, 2019, our Pigeon branded products contributed 80.86% to our overall sales and for Fiscal 2019, Fiscal 2018 and for the six month period ended September 30, 2019, Pigeon branded products contributed 81.24%, 86.89% and 80.86% to our overall sales respectively.
- As of October 31, 2019, the six month period ended September 30, 2019 and for Fiscal 2019 and 2018, our Gilma branded products contributed 2.34%, 2.36%. 3.75% and 5.58% of our overall sales, respectively and our BLACK + DECKER products contributed 2.59%, 2.37%, 2.67% and 0.88% of our overall sales, respectively.
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 |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| 4th Day – | ||||
| 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.
Stovr Kraft IPO Listing Date
Find the dates below on basis of allotment, refund, listing and more:
| Basis of Allotment Finalization | – |
| Refunds Initiation | – |
| Credit of Shares to Demat Account | – |
| Share Listing Date | – |
Stove Kraft IPO Price Band / Cash Price
The face value of each share is Rs.10, but the price band of the IPO is [●]
Stove Kraft IPO Size
This Initial Public Issue of [●] Equity Shares of Rs.10 each for cash at a price of [●] per equity share aggregating to [●] Million.
Rossari Biotech IPO Share Offering
Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company of Rs.10 each at a price of [●] per equity share aggregating to Rs.1,450.00 Million,
Offer for Sale : Offer for sale of up to 71,63,721 Eq Shares by the Promoter Selling Shareholder aggregating up to Rs.[●] million.
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.
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) | ||||
| 30-Sep-19 | 31-Mar-19 | Mar-18 | 31-Mar-17 | |
| Total Assets | 4,934.77 | 4,257.26 | 3,936.42 | 3,508.87 |
| Total Revenue | 3,174.33 | 6,425.98 | 5,345.85 | 5,179.54 |
| Total Expense | 3,126.80 | 6,413.74 | 5,471.40 | 5,361.79 |
| Profit After Tax | 43.89 | 7.36 | (120.18) | (185.03) |
Earnings per Equity Share (in Millions)
| Amount (in INR & Million) | ||||
| 30-Sep-19 | Mar-19 | 31-Mar-18 | 31-Mar-17 | |
| Basic & Diluted | 1.77 | 0.33 | (6.35) | (9.78) |
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
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 [●] Eq 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 Eq Shares, aggregating up to Rs. [●] million |
| The Offer consists of: | |
| QIB Portion | Up to [●] 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 | [●] 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
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-17 | (9.78) | N.M. | – |
| 31-Mar-18 | (6.35) | N.M. | – |
| 31-Mar-19 | 0.33 | N.M. | (25.87) |
- Industry P/E Ratio:
| Particulars | P/E ratio |
| Average | 45.18 |
| Highest | 49.86 |
| Lowest | 42.25 |
- 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 | 0.33 | 0.33 | – | (25.87) | N.M. |
| TTK Prestige | 10 | 138.76 | 138.76 | 43.43 | 1,009.67 | 22.59 |
| Hawkins Cookers | 10 | 102.53 | 102.53 | 42.25 | 224.32 | 45.71 |
| Butterfly Gandhimathi Appliances | 10 | 5.15 | 5.15 | 49.86 | 105.93 | 5.05 |
Stove Kraft IPO Lead Managers
| Lead Managers |
| Edelweiss Financial Services Limited IDFC Bank Limited JM Financial Limited |
Stove Kraft IPO – Registrar to the Offer
| 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: stovekraft.ipo@karvy.com Investor grievance e-mail: einward.ris.ipo@karvy.com 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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