Stove Kraft IPO subscription: Stove Kraft IPO subscribed 1.4 times on Day 2 so far
NEW DELHI: The initial public offering (IPO) of Stove Kraft was subscribed 2.93 times on Day 2 of the bidding process. The IPO received bids for 1,72,55,572 shares as against the total issue size of 58,94,642 shares. The issue is being sold in Rs 384-385 range. At the upper limit of the price band, the IPO is expected to fetch Rs 412.62 crore. Ahead of its IPO, the manufacturer of kitchen appliances raised Rs 185 crore from anchor investors. Analysts said that the company's brand value, margins and return on capital are lower than its peers and, even as it has improved its profitability on th...
Source: indiatimes.com