Stove Kraft IPO Open Today: The IPO market is witnessing a fierce stir these days. IPOs are being launched one after another in the month of January. The IPO of kitchen appliance maker Stove Craft is opening today on Monday i.e. 25 January. This is the fourth IPO of this year. The company plans to raise Rs 412.63 crore through an IPO. This IPO will be open from 25 January to 28 January. There is a craze among investors regarding the IPO market. After earning heavily from the primary market in the year 2020, this year also the IPO is getting good response. If you also want to invest in the IPO of Stove Craft, then know some things first.
Opinion on investment
Experts believe that stove craft has a higher valuation than peer companies. According to brokerage house Angel Broking, the brand value, margin and returns of the company are weak compared to some peer companies. There is still further uncertainty regarding profits, in such a situation there is a neutral rating on the issue. Although the brokerage also says that due to cast cutting and some other measures, the company’s margin has improved in the first half of FY 2021, but there is a concern about how sustainable it is. After COVID-19 once again when the business is normal, then the traveling cast, advertising expenses will increase again.
185 crores raised from anchor investors
Kitchen equipment maker Stove Craft has raised Rs 185 crore from anchor investors before its IPO. According to a circular issued by BSE, a total of 48,22,290 shares have been issued to 32 anchor investors at a price of Rs 385 per share. This is the upper level of the price range. In this sense, the company has raised Rs 185.68 crore from anchor investors. These anchor investors include Goldman Sash India, Nippon Life India Trustee, Bajaj Allianz Life Insurance Company, IIFL Special Opportunities Fund, Integrated Core Strategies Asia Pte Ltd. And Sundaram Mutual Fund.
Price band
The price band for Stove Craft’s IPO has been fixed at Rs 384-385 per share. In this, 95 crore fresh shares will be issued. In addition, the company and promoters will also issue 82.5 lakh shares through Offer for Sale (OFS). This IPO will be open from 25 January to 28 January. The IPO at the upper level of the price range is expected to raise Rs 412.62 crore.
Lot size
Lot size of 38 shares has been kept in this IPO. That is, you have to invest for at least 38 shares. In terms of the upper price band, investors have to invest at least Rs 14630. You can then apply it in multiples.
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How much share will the promoter sell?
Promoter Rajendra Gandhi will offer 6,90,700, promoter Sunita Rajendra Gandhi 59,300, Sikoya Capital India Growth Investments Holding 14,92,080 and SCI Growth Investments two 60,07,920 shares under the sale offer. Edelweiss Financial Services and JM Financial will be the book running lead managers of the IPO.
Fourth IPO of the year
This will be the fourth IPO of this year. Earlier, IPOs of Indian Railways Finance Corporation (IRFC), Indigo Paints and Home First Finance Company have come.