With the country recovering from the economic rollercoaster in 2020, many IPOs are being launched this year. After IRFC, Indigo Paints, and HFFC, Stove Kraft Limited is set to launch an IPO on January 25, 2021[now live on Groww!]. This will be open for subscription until January 28, 2021. Here is all you need to know about the issue.
You can apply for Stove Kraft IPO on Groww easily via UPI. Go to IPO. There you would be able to see the list of all open IPOs. Select Stove Kraft IPO and click on ‘Apply’. You would be able to invest in this IPO from January 25, 2020.
|IPO Date||January 25, 2021 to January 28, 2021|
|Issue Type||Book Built Issue IPO|
|Issue Size||Rs.412.63 Crore|
|Fresh Issue||Rs.95 Crore|
|Offer for Sale||8,250,000 Equity Shares of Rs.10|
|Face Value||Rs.10 per equity share|
|IPO Price||Rs.384 to Rs.385 per equity share|
|Market Lot||38 shares|
|Min Order Quantity||38 shares|
|Listing At||BSE, NSE|
|Bid/Offer Launch date||January 25, 2021|
|Bid/Offer Last date||January 28, 2021|
|Basis of Allotment finalization date||February 02, 2021|
|Initiation of Refunds||February 03, 2021|
|Credit of Shares to Demat Acct||February 04, 2021|
|IPO Shares Listing Date||February 05, 2021|
Stove Kraft Limited proposes to utilize the net proceeds from the fresh issue for repayment/prepayment, in full or part, of certain borrowings availed by it and general corporate expenses.
Stove Kraft Limited is kitchen solutions and emerging home solutions brand. It is one of the dominant players for pressure cookers and a market leader in the sale of free-standing hobs and cooktops. The company manufactures a diverse range of kitchen solutions under the brand names Pigeon and Gilma. Stove Kraft also plans to commence manufacturing kitchen solutions under the Black + Decker brand offering a range of cost-efficient, semi-premium, and premium kitchen solutions. The company endeavors to be a one-stop-shop for kitchen and home solutions offering products at different pricing points.
Pigeon and Gilma are the flagship brands of Stove Kraft with a market presence of more than 15 years and have a high brand recall with customers who focus on quality and value for money. The global consulting firm, White Page International has listed Pigeon as India’s Most Admired Brand of 2016. Also, Stove Kraft has undertaken co-branding activities with companies like Indian Oil Corporation Limited and Hindustan Petroleum Corporation Limited to utilize their sales and distribution channels to increase its outreach.
Q1. What is the Stove Kraft Limited IPO?
The Stove Kraft Limited IPO is a Main Board IPO for the issue of equity shares having the face value of Rs.10 totaling up to Rs.412.63 crores. The registrar for the IPO is KFintech Private Limited and the shares are proposed to be listed on the BSE and NSE.
Q2. What are the open and close dates of the Stove Kraft Limited IPO?
The Stove Kraft Limited IPO opens on January 25, 2021, and closes on January 28, 2021.
Q3. What are the lot size and minimum order quantity of the Stove Kraft Limited IPO?
The lot size for the Stove Kraft IPO is 38 shares and the minimum order quantity is 38 shares.
Q4. What are the allotment and listing dates of the Stove Kraft Limited IPO?
For the Stove Kraft IPO, the allotment will be finalized by February 02, 2021. Further, the shares are expected to be credited to investors’ accounts by February 04, 2021.