IPO News

Stove Kraft IPO last day – Issue subscribed 18 times

The Rs 413 crore IPO issued by the leading company Stove Kraft has been subscribed for 18 times on its final day.

Stove Kraft has received bids for 10.59 crore equity shares against the offered IPO size of 58.94 lakh equity shares. This amount is excluding the anchor book amount as per the data charts.

Stove Kraft is a leading manufacturer of kitchen appliances and cookware which was founded in 1999.

The company comes under leading brands which are Pigeon and Glima, moreover, Black & Decker is also added to its name.

The company has launched its Initial Public Offering on January 25,2021. The IPO consisted of fresh issue of Rs 95 crore. The offer for sale or OFS by the company consisted of Rs 82.50 lakh shares by its investors and promoters.

So far, the IPO of Stove Kraft have raised worth Rs 185 crore from anchor investors as per the last records on Friday.

The price band of the IPO was fixed in the range of Rs 384 – Rs 385 per share.

However, the company also priced its issue at 34.5x PE on trailing basis previously. In the last day of the issue the QIB portion has been booked for 8 times in total.

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