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Stove Kraft is one of the largest Kitchen appliance suppliers in India. The company manufactures and sells kitchen solutions under the brand name of "Pigeon" and "Gilima" brands and planning to manufacture value, premium, and semi-premium kitchen supplies under the "Black + Decker" brand. Its product portfolio has 660+ kitchen solutions including cookware, cooking appliances, household utilities, and others. In 2019, it also started manufacturing Pigeon LED products.
The company has a strong distribution network as under the "Pigeon" brand, it has 651 distributors in 27 states and 5 union territories and 12 distributors for exports and under the "Gilima" brand, it has 65 stores across 4 states and 28 cities. It not just distribute its products in the Indian market but also export them to countries like the USA, Mexico, Kenya, Qatar, Sri Lanka, Fiji, Bahrain, Kuwait, etc.
Stove Kraft has manufacturing facilities at Bengaluru (Karnataka) and Baddi (Himachal Pradesh). All Pigeon and Gilima branded appliances are manufactured at its Bengaluru unit and the Baddi facility focuses on Oil Company Business (OCB) to manufacture products like LPG stoves, inner lid cooker, etc.
Competitive strength
| IPO Date | Jan 25, 2021 to Jan 28, 2021 |
| Listing Date | Feb 5, 2021 |
| Face Value | ₹10 per share |
| Price | ₹384 to ₹385 per share |
| Lot Size | 38 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹412.63 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹95.00 Cr) |
| Offer for Sale | 8,250,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | 3,215,260 (54.55%) |
| NII (HNI) Shares Offered | 1,607,629 (27.27%) |
| Retail Shares Offered | 1,071,753 (18.18%) |
| Total Shares Offered | 5,894,642 |
Stove Kraft IPO opens on Jan 25, 2021, and closes on Jan 28, 2021.
| Event | Tentative Date |
|---|---|
| Opening Date | Jan 25, 2021 |
| Closing Date | Jan 28, 2021 |
| Basis of Allotment | Feb 2, 2021 |
| Initiation of Refunds | Feb 3, 2021 |
| Credit of Shares to Demat | Feb 4, 2021 |
| Listing Date | Feb 5, 2021 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
The Stove Kraft IPO lot size is 38 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,630 |
| Retail (Max) | 13 | 494 | ₹190,190 |
| Lot Size Calculator | |||
Rajendra Gandhi and Sunita Rajendra Gandhi are the company promoters.
| Pre Issue Share Holding | 61.31% |
| Post Issue Share Holding | 54.36% |
| Particulars | For the year/period ended (₹ in million) | ||||
|---|---|---|---|---|---|
| 30-Sept-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 4,984.99 | 4,712.91 | 4,257.26 | 3,936.42 | |
| Total Revenue | 3,295.09 | 6,729.14 | 6,425.98 | 5,345.85 | |
| Profit After Tax | 287.76 | 31.70 | 7.36 | (120.18) | |
The IPO proceed will be used for the following purposes;
[Dilip Davda] If we consider H1 FY 21 (IPO year) super earnings, the issue appears fully priced. Sustainability of such performance going forward is a major concern. If we consider FY20 performance, the issue is priced aggressively. Due to losses for FY18, it had opted for higher QIB portion in IPO. Perhaps the company has hurried for its IPO plan to encase boom in the secondary market. Considering all these, cash surplus, risk savvy investors may consider investment at their own risk. Read detail review...
The Stove Kraft IPO is subscribed 18.03 times on Jan 28, 2021 5:00:00 AM. The public issue subscribed 26.04 times in the retail category, 8.02 times in the QIB category, and 32.72 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 8.02 |
| NII | 32.72 |
| Retail | 26.04 |
| Total | 18.03 |
| Listing Date | Feb 5, 2021 |
| BSE Script Code | 543260 |
| NSE Symbol | STOVEKRAFT |
| ISIN | INE00IN01015 |
| Final Issue Price | ₹385 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹385.00 |
| ₹467.00 |
| ₹435.05 |
| ₹495.55 |
| ₹445.95 |
| NSE |
|---|
| ₹385.00 |
| ₹498.00 |
| ₹435.00 |
| ₹498.00 |
| ₹445.95 |
Stove Kraft Limited
81/1, Medamarana Halli Village
Harohalli Hobli, Kanakapura Taluk
Ramanagar District, 562 112
Phone: +91 80 2801 6222
Email: cs@stovekraft.com
Website: http://www.stovekraft.com/
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: stovekraft.ipo@kfintech.com
Website: https://karisma.kfintech.com/
Stove Kraft IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹412.63 Crores. The issue is priced at ₹384 to ₹385 per share. The minimum order quantity is 38 Shares.
The IPO opens on Jan 25, 2021, and closes on Jan 28, 2021.
KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Stove Kraft IPO using UPI as a payment gateway. Zerodha customers can apply in Stove Kraft IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Stove Kraft IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Stove Kraft IPO opens on Jan 25, 2021 and closes on Jan 28, 2021.
Stove Kraft IPO lot size is 38 Shares and the minimum order quantity is .
You can apply in Stove Kraft IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Stove Kraft IPO will be done on Feb 2, 2021, and the allotted shares will be credited to your demat account by Feb 4, 2021. Check the Stove Kraft IPO allotment status.
Ashish Khater
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RHP
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Thanks