Live
- DEO suspends teacher accused of sexual assault
- PM ‘cursing’ Congress out of despair: Maharashtra Cong Chief
- Applications are invited for Junior Colleges Scheme District Scheduled Castes Development Officer Ramlal
- A nomination was filed on the second day for the Nagar Kurnool parliamentary seat
- SP Gaikwad inspected the Telangana Amarnath Saleswaram Jatara yatra arrangements
- Rahul Gandhi's decision to contest from Wayanad shows 'lack of confidence': BJP President Nadda
- IPL 2024: Delhi bowlers will go after all of SRH’s top-order batters, says head coach Ricky Ponting
- At Amroha rally, PM Modi sends out ‘meaningful’ message for Muslims and Hindus
- Tripura records highest 79.83 pc voter turnout in Northeast
- The government has to clear the confusion
Stove Kraft IPO: Opens today; Details investors should know before subscribing
Stove Kraft IPO: Opens today; Details investors should know before subscribing
The Initial Public Offer (IPO) of the Kitchen appliance manufacturer Stove Kraft will hit the market on Monday, January 25, 2021. The public offering will close on January 28, 2021.
The Initial Public Offer (IPO) of the Kitchen appliance manufacturer Stove Kraft will hit the market on Monday, January 25, 2021. The public offering will close on January 28, 2021.
The company has fixed a price band of Rs 384 to Rs 385 per equity share. Bids can be made for a minimum of 38 equity shares and can apply for up to 13 lots thereafter. At the upper end of the price band, the IPO is expected to fetch Rs 412.62 crore. The shares are proposed to be listed on BSE and NSE. The Stove Kraft IPO listing date is not yet announced.
The fourth IPO of the calendar year - after Indian Railway Finance Corporation (IRFC), Indigo Paints and Home First Finance - 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. Indian Railway Finance Corporation IPO concluded on Wednesday and Indigo Paints closed on Friday, while Home First Finance Company is currently open for public subscription.
The net proceeds from the fresh issue will be utilised towards debt repayment and general corporate purposes. Edelweiss Financial Services Limited and JM Financial Limited are the Book Running Lead Managers to the Offer.
The company has raised Rs 186 crore, form 32 anchor investors, at Rs 385 per share ahead of its initial public offer. A total of 48,22,290 shares have been allotted to anchor investors. Among the anchor investors are Goldman Sachs India, Nippon Life India Trustee, Bajaj Allianz Life Insurance Company, IIFL Special Opportunities Fund, Integrated Core Strategies Asia Pte Ltd and Sundaram Mutual Fund.
Stovekraft Limited is into the business of kitchen appliances. Its flagship brands include Pigeon and Gilma. It offers kitchen solutions through our wide range of products including pressure cookers, non-stick cookware, gas and induction cooktops, mixer grinders, chimneys and hobs among others. The company has manufacturing facilities in Bangalore and at Baddi, Himachal Pradesh.
