Stove Craft’s IPO opens for subscription on January 25 and closes on January 28. The price band for the issue has been fixed at Rs. 384-385 per share. The public issue comprises a fresh issue of Rs. 95 crore by the company and an offer for sale of 82.50 lakh shares by promoters and investors. The company will utilize its net proceeds from the fresh issue for repayment of certain borrowings (Rs. 76 crore) and general corporate purposes. Investors can bid for a minimum of 38 equity shares and in multiples of 38 shares thereafter.
Price band: Rs. 384-385 per share
IPO opens on: January 25, 2021
IPO closes on: January 28, 2021
Stove Craft is one of the leading brands for kitchen appliances. The company is one of the dominant players for pressure cookers and amongst the market leaders in the sale of free-standing hobs and cooktops. It is engaged in the manufacture and retail of a wide and diverse suite of kitchen solutions under Pigeon and Gilma brands.
This would be the fourth company to open an IPO in the month of January. We already have Indian Railway Finance Corporation, Indigo Paints, which remains open for bidding, and Home First Finance Company, which opens today.