Stove Craft’s IPO has come at a time when the market is at an all-time high. Investors have shown great interest in the IPO so far.
Kitchen solutions company Stove Craft’s IPO was 80 per cent subscribed on the first day. The IPO was opened on 25 January. It will close on 28 January. Although the market is closed on 26 January. The company will raise Rs 412 crore through an IPO. Under its first IPO, the company is bringing an initial offer of Rs 95 crore while Rs 317.6 crore will be raised from the offer for sale. The price band of the company’s IPO is Rs 384-385.
Good response to all IPOs in 2021
Stove Craft’s IPO has come at a time when the market is at an all-time high and investors have shown great interest in the IPO. Thirteen companies were listed through their IPOs in 2020. The IPOs of three of these companies were subscribed 150 times. The IPOs that have been launched so far in 2021 have received a good response from investors. Stove Craft has raised Rs 185.68 crore from anchor investors. The company has issued 58.94 lakh shares through the issue while bids for 46.9 lakh shares have been floated.
IPO price brand Rs 384-385
The portion that the company reserved for retail investors has subscribed 4.3 times. The share of non-institutional investors has subscribed 1.39 times on the first day, while the qualified institutional buyers have not made any bids yet.
The price band of the company’s shares is Rs 384-385 per share. According to the company’s upper price band, its market cap could be Rs 1253 crore. In this IPO, 95 million fresh shares and 86.50 lakh equity shares have been offered for sale. The stove craft company sells kitchen appliances, pressure cookers and cook tops without the brand names Pigeon and Gilma.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.