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Watch this space for latest updates around the subscription status of Stove Kraft IPO

February 5-Listing Day

Stove Kraft Listed 21-29% Premium

  • Stove Kraft got listed at Rs 467 per share on the BSE. This is a premium of 21.3% over its issue price. 
  • On the NSE, the shares listed at Rs 498 per share, up 29.35% from the issue price.
  • The issue price was Rs 385 per share.
  • The share price ended 15.83% higher at Rs 445.95 per share on the NSE.

January 28-Day 3

As of 5.30 p.m.

  • The Stove Kraft IPO has been subscribed 18.03 times on day 3.
  • The issue received bids for 10.62 crore shares against an offer size of 58.94 lakh shares.

Subscription status for each investor category:

  • Retail Investors: 26.03 times
  • Qualified institutional investors: 8 times
  • Non-institutional investors: 32.72 times

January 27-Day 2

As of 5.00 p.m.

  • The Stove Kraft IPO has been subscribed 2.9 times on day 2.
  • The issue received bids for 1.7 crore shares against an offer size of 58.94 lakh shares.

Subscription status for each investor category:

  • Retail Investors: 13.07 times
  • Qualified institutional investors: 8.15%
  • Non-institutional investors: 1.85 times

As of 1.00 p.m.

  • The Stove Kraft IPO has been subscribed 1.5 times approximately
  • The issue received bids for 86.95 lakh shares against an offer size of 58.94 lakh shares.

Subscription status for each investor category:

  • Retail Investors: 8 times
  • Qualified institutional investors: not put in their bids yet

January 25-Day 1

As of 5.15 p.m.

  • The Stove Kraft IPO has been subscribed 98% so far on day 1.
  • The issue received bids for 57.94 lakh shares against an offer size of 58.94 lakh shares.

Subscription status for each investor category:

  • Retail Investors: 5.3 times
  • Qualified institutional investors: not put in their bids yet
  • Non-institutional investors: 4.73%

As of 1.00 p.m.

  • The Stove Kraft IPO has been subscribed 49% so far on day 1.
  • The issue received bids for 28.54 lakh shares against an offer size of 58.94 lakh shares.

Subscription status for each investor category

  • Retail Investors: 2.6 times
  • Qualified institutional investors: not started yet
  • Non-institutional investors: 1.26 times

More About the IPO

A few days before the launch of the IPO, Stove Kraft Limited raised over Rs.185 crore from 32 anchor investors. According to a BSE circular issued on Friday January 22, the company allocated 48,22,290 shares at Rs.385 per share to anchor investors.

ipo blog cta

The list of anchor investors included names like Nippon Life India Trustee, Goldman Sachs India, Integrated Core Strategies Asia Pte Ltd, IIFL Special Opportunities Fund, and Sundaram Mutual Fund. Stove Kraft has scheduled the launch of the IPO on January 25, 2021, and wants to raise Rs.412.63 crore via a fresh issue and offer for sale.

Also Read: How to Apply for Stove Kraft IPO

Stove Kraft is launching the IPO for a fresh issue of equity shares totaling up Rs.95 crore and an offer for sale of up to 82.50 lakh shares. The offer for sale comprises up to 6,90,700 shares by Rajendra Gandhi, 59,300 shares by Sunita Rajendra Gandhi, 14,92,080 shares by Sequoia Capital India Growth Investment Holdings, and 6,007,920 shares by SCI Growth Investments II.

The opening date of the IPO is Monday, January 25, 2021, and the closing date is Thursday, January 28, 2021. The price band is Rs.384-385 per share and the lot size is 38 shares. Hence, retail investors need to invest at least Rs.14630 per lot. Also. Retail individual investors can apply for up to 13 lots (or 494 shares). Hence, the maximum application amount is Rs.190,190. Further, retail investors will be able to bid for 35% of the issue, with 15% earmarked for HNIs, and 50% for Qualified Institutional Buyers.

Stove Kraft is primarily engaged in the manufacture of kitchen solutions. Its product range includes cookware, cooking appliances, and home solutions. It has two manufacturing units; one in Baddi (Himachal Pradesh) and the other in Bengaluru (Karnataka).

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