Saturday, February 27, 2021

Stove Kraft IPO Details

Stove Kraft IPOStove Kraft IPO description – Stove Kraft is a kitchen solutions and home solutions brand. 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 its Pigeon and Gilma brands, and proposes to commence manufacturing of kitchen solutions under the BLACK + DECKER brand, covering the entire range of value, semi-premium and premium kitchen solutions, respectively.

As of 31 October 2019, its Pigeon branded products contributed 80.86% to its overall sales and were amongst the leading brands in the market for certain products such free standing hobs, cooktops, non-stick cookware, LPG gas stoves and induction cooktops. In 2016, the company further diversified the Pigeon brand by launching LED products under it and in 2019, it commenced manufacturing LED products at its Bengaluru Facility.

Its flagship brands, Pigeon and Gilma, have enjoyed a market presence of over 14 years and enjoy a high brand recall amongst customers for quality and value for money. The company also entered the premium segment in 2016 by signing an exclusive BLACK + DECKER Brand Licensing Agreement with Stanley Black & Decker, Inc. and The Black and Decker Corporation. The agreement allows it to sell and provide post –sales services in relation to, a wide range of products such as blenders and juicers, breakfast appliances, small cooking appliances and small domestic appliances.

Promoters of Stove Kraft – Rajendra Gandhi And Sunita Rajendra Gandhi
Stove Kraft IPO details
Subscription Dates 25 – 28 January 2021
Price Band INR384 – 385 per share
Fresh issue INR95 crores
Offer For Sale 8,250,000 shares (INR316.8 – 317.62 crore)
Total IPO size INR411.8 – 412.62 crore
Minimum bid (lot size) 38 shares
Face Value  INR10 per share
Retail Allocation 10%
Listing On NSE, BSE

Stove Kraft’s financial performance (in INR crore)

FY2018 FY2019 FY2020 H1 FY2021
Revenue 534.6 642.6 672.9 329.5
Expenses 547.1 641.4 669.4 300.7
Net income -11.7 0.9 2.9 30.1
Margin (%) -2.2 0.1 0.4 9.1

Stove Kraft Contact Details

Stove Kraft Limited
81/1, Medamarana Halli Villagee
Harohalli Hobli, Kanakapura Taluk
Ramanagar District, 562 112, Karnataka
Phone: +91 80 2801 6222
Email: [email protected] Website: www.stovekraft.com

Registrar of Stove Kraft IPO

KFin Technologies Private Limited
Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222 
Fax:
 +91 40 2343 1551
Email: [email protected]
Website: www.kfintech.com

Valuation of Stove Kraft (as of FY2020)

Earnings Per Share (EPS): INR1.05
Earnings Per Share (EPS): INR9.57 (H1 FY2021)
Price/Earnings (PE ratio): 365.71 – 366.67 (FY2020)
Price/Earnings (PE ratio): 20.06 – 20.11 (H1 FY2021 annualized)
Return on Net Worth (RONW): 2.51%
Net Asset Value (NAV): INR41.84 per share

Stove Kraft IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 PM)
Day 1 Day 2 Day 3
QIB 3,215,260 0.00 0.08 8.01
NII 1,607,629 0.04 1.85 32.72
Retail 1,071,753 5.37 13.07 26.03
Total 5,894,642 0.98 2.92 18.04

Stove Kraft IPO Analyst Reviews

Angel Broking – Neutral
Choice Broking – Avoid
Elite Wealth – Avoid
GEPL Capital – Subscribe
SAMCO – Avoid
Ventura Securities – Not rated

Stove Kraft IPO Allotment Status

Stove Kraft IPO allotment status is now available on KFin’s websites, click on any of these links to get allotment status.

Allotment Status Link #1
Allotment Status Link #2
Allotment Status Link #3

Alternatively, allotment status can be checked on BSE website
BSE IPO Allotment Status Link

Listing Performance of Stove Kraft

IPO Opening Date: 25 January 2021
IPO Closing Date: 28 January 2021
Finalisation of Basis of Allotment: 2 February 2021
Initiation of refunds: 3 February 2021
Transfer of shares to demat accounts: 4 February 2021
Listing Date: 5 February 2021
Opening Price on NSE: INR498 per share (up 29.35% from IPO price)
Closing Price on NSE: INR445.95 per share (up 15.83% from IPO price)

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