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Stove Kraft IPO final day: Issue subscribed 18 times, QIB portion booked 8 times

Considering the risk in current volatile equity markets, a moderate to low risk investors can give a miss to the offer while high-risk investors can subscribe for listing gains, Mehta Equities advised.

January 28, 2021 / 05:39 PM IST
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Todays L/H

The Rs 413-crore maiden public issue of Stove Kraft has been subscribed 18.03 times on January 28, the final day of bidding.

Investors have put in total bids for 10.62 crore equity shares against the IPO size of 58.94 lakh equity shares (excluding anchor book), the subscription data available on exchanges showed.

The portion set aside for qualified institutional buyers has seen a subscription of 8 times, while the reserved portion of non-institutional investors has been subscribed 32.72 times, and that of retail investors 26.03 times.

Stove Kraft, one of the leading brands for kitchen appliances in India, launched its initial public offering on January 25. The issue consisted of a fresh issue of Rs 95 crore and an offer for sale of 82.50 lakh shares by promoters and investors. The company raised Rs 185 crore from anchor investors last Friday.