Stove Kraft was incorporated on June 28, 1999. It is a kitchen solutions and an emerging home solutions brand. the company is engaged in the manufacture and retail of a wide and diverse suite of kitchen solutions under 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.
| Bidding Dates |
|---|
| 25 Jan 2021 - 28 Jan 2021 |
| Subscription |
|---|
| 18.03x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,630 | 1 | 13 | 38 | 10.7 M | ₹384 - ₹385 | 67.04 % | ₹4119.3 M - ₹4130.0 M | RHP DOC |
Stove Kraft IPO SUBSCRIPTION STATUS
28 Jan '21Stove Kraft IPO overall subscription rate was 18.03 times the total available shares
Stove Kraft IPO retail subscription rate was 26.04 times in the retail segment
Stove Kraft IPO non-institutional investor subscription rate was 32.72 times in the non-institutional investor category
Stove Kraft IPO Qualified Institutional Bidder subscription rate was 8.02 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
28 Jan 2021 (Day 3) | 26.04x | 32.72x | 8.02x |
27 Jan 2021 (Day 2) | 13.08x | 1.85x | 0.08x |
25 Jan 2021 (Day 1) | 5.37x | 0.05x | 0x |
Stove Kraft FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| H1FY21 | 287.8 | 3,288.4 | 496.7 | 246.4 |
| H1FY20 | 43.9 | 3,155.1 | -95.4 | -206.2 |
| FY20 | 31.7 | 6,698.6 | 155.8 | -104.7 |
| FY19 | 7.4 | 6,409.4 | 131.7 | 57.4 |
| FY18 | -120.2 | 5,289.5 | 113.0 | 52.2 |
Stove Kraft IPO SUBSCRIPTION STATUS DETAILS
Stove Kraft had 10.7 M shares on offer
Stove Kraft IPO offer price was in the range ₹384 - ₹385
Stove Kraft IPO minimum Investment was ₹14630
Stove Kraft IPO issue size was ₹ 4119.3 M - ₹ 4130.0 M
Stove Kraft had a minimum lot size of 38 Shares per application
Stove Kraft NUMBER OF SHARES ON OFFER
Stove Kraft IPO IMPORTANT DATES
| Issue Open Date | 25 Jan 2021 |
| Issue close Date | 28 Jan 2021 |
| Allotment Date | 02 Feb 2021 |
| Refund Date | 03 Feb 2021 |
| Demat Account Credit Date | 04 Feb 2021 |
| Listing Date | 05 Feb 2021 |
| Listing on Exchange(s) | NSE and BSE |
| Stove Kraft Allotment Status | Exchange |
Stove Kraft IPO subscription opened on 25 Jan 2021, and closed on 28 Jan 2021
IPO allotment for Stove Kraft was finalized on Tuesday, 02 Feb 2021
IPO listing for Stove Kraft was on NSE and BSE on Friday, 05 Feb 2021
Stove Kraft IPO LISTING GAINS
| Issue Price (adjusted) | 385.0 |
| Listing Open Price | 498.0 |
| Listing Close Price | 445.9 |
| Listing Gain% | 29.4% |
| Current Gain% | 107.2% |
Stove Kraft Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stove Kraft Ltd. | 797.6 | 2595.9 | 54.3 | 2.8 | 1.5 | 8.3 | 3.6 | 1599 | 10.3 | 42 | 9.1 | 14.7 | 19.3 |
| Crompton Greaves Consumer Electricals Ltd. | 250 | 16094.7 | -71.9 | 0.5 | 1.9 | -8.2 | -4 | 8161.2 | 2.9 | -242.2 | -143.6 | -3.5 | -142.5 |
| V-Guard Industries Ltd. | 319.6 | 13966 | 38.3 | 1.5 | 2.2 | 13 | 8.3 | 5989.3 | 7 | 308.3 | -1.7 | 8.3 | 26.4 |
| TTK Prestige Ltd. | 616 | 8435.4 | 49.4 | 0.7 | 2.7 | 8.1 | 5.9 | 3040.9 | 9 | 160.6 | 42.8 | 12.5 | 75.5 |
| Cera Sanitaryware Ltd. | 6062 | 7818.5 | 38.5 | -2.2 | 3.7 | 13.9 | 10.4 | 2103 | 6.3 | 204.2 | -17.2 | 157.4 | -17.5 |
| IFB Industries Ltd. | 1404.4 | 5690.5 | 35.5 | 0.7 | 1 | 14.4 | 5.8 | 5652.6 | 10.3 | 143.6 | 20.7 | 39.6 | 49.2 |
Stove Kraft INFORMATION ON IPO ISSUE
About Stove Kraft
Stove Kraft was incorporated on June 28, 1999. It is a kitchen solutions and an emerging home solutions brand. the company is engaged in the manufacture and retail of a wide and diverse suite of kitchen solutions under 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.
Object of the Issue
1. To make the repayment or prepayment payment of company's borrowings fully or partially
2. To meet general corporate purposes.
Stove Kraft - PROMOTERS
| Name |
|---|
| Rajendra Gandhi |
| Sunita Rajendra Gandhi |
Stove Kraft Book Running Lead Managers
Edelweiss Financial Services Limited
skl.ipo@edelweissfin.com
JM Financial Limited
skl.ipo@jmfl.com
Stove Kraft Registrar to the Offer
KFin Technologies Private Limited
stovekraft.ipo@kfintech.com
Stove Kraft Strengths
Large brand
One of the largest kitchen appliance company in India
Diversified product
The company has a diversified product portfolio
Brand value
The company has strong brand name
Distribution network
The company has strong distribution network
Manufacturing facility
The company has well-equipped manufacturing facility
Stove Kraft Risks
Dependent on third party
The company sources its raw materials from third parties with whom they do not have long term contract or price guarantees and the operations are significantly dependent on third parties for the distribution and sales of products.
Various proceedings
There are various proceedings involving the company, its promoters and its director
Criminal proceedings
Promoter and Managing Director, Rajendra Gandhi, may be required to vacate his directorship from Board becasue he has been named as a respondent in certain criminal and civil proceedings
Competitive Industry
The company operates in a increasing competition industry
IPO FAQs
This IPO consists of an offer for sale of up to Rs 317.6 crore, of 8,250,000 shares. It also consists of a fresh issue of Rs 95.0 crore.
The promoters of the company are Rajendra Gandhi and Sunita Rajendra Gandhi.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 384.0 - 385.0.
The IPO application opens on Jan 25, 2021 and closes on Jan 28, 2021.
The minimum lot size for the IPO is 38. The maximum lot size for the IPO is 494.
For all category investors, the minimum application amount for this IPO is Rs. 14,630.0, the maximum value for this IPO is Rs 190,190.0.
This IPO will be allotted on Feb 02, 2021.
The refund will be credited to your account on Feb 03, 2021.
The allotted shares will be credited to your demat on Feb 04, 2021.
Stove Kraft Ltd.’s shares listed on the stock exchanges on Feb 05, 2021.