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Stove Kraft sells kitchen appliances under the brand name of Pigeon and Gilma
Stove Kraft IPO: Stove Kraft’s three-day shares sale via initial public offering (IPO) opened for subscription today (January 25). The Bengaluru-based kitchen appliances maker is planning to raise Rs 412.62 crore from the IPO by selling equity shares in the price band of Rs 384-385 per share. The Stove Kraft IPO is the fourth public issue of 2021 after the recently-concluded Indian Railway Finance Corporation, and the ongoing Home First Finance Company India and Indigo Paints IPOs. Stove Kraft IPO consists of fresh issue of shares worth Rs 95 crore and an offer-for-sale (OFS) of 82.50 lakh shares by investors and promoters.
Stove Kraft sells kitchen appliances under the brand name of Pigeon and Gilma. The company is planning to manufacture value, premium, and semi-premium kitchen supplies under the “Black + Decker” brand. Its product portfolio has more than 660 kitchen solutions including cookware, cooking appliances, household utilities. In 2019, the company also started manufacturing Pigeon LED products.
The primary objectives of the Stove Kraft IPO are to make the repayment or prepayment of company’s borrowings fully or partially and to meet general corporate purposes.
Stove Kraft IPO Lot Size and Bidding Details
Retail investors can bid for Stove Kraft shares in lot size of 38 shares in the price band of Rs 384-385 per share. A retail individual investor can apply for maximum of 13 lots or 494 shares. At the upper price band of Rs 385, an investor can invest maximum of Rs 1.90 lakh.
KFintech Private Limited is the registrar, and Edelweiss Financial Services Ltd and JM Financial Consultants Private Limited are the lead managers for the Stove Kraft IPO.
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