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Amid heavy redemption, mutual funds put in big money in 4 IPOs and made a killing

Fund managers were seen subscribing to shares worth Rs 927 crore in the IRFC IPO. They bought Rs 143 crore worth of shares in Indigo Paints, Rs 117.82 crore in Home First Finance IPO and Rs 50 crore in the Stove Kraft offering.

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Stove Kraft shares listing, Stove Kraft grey market premium, Stove Kraft shares price, Stove Kraft share news

The shares of Stove Kraft will be listed on the BSE and NSE on Friday. Stove Kraft is an Indian company that manufactures cooking appliances under Pigeon and Gilma brands. It was founded in 1999 and is headquartered in Bangalore.



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stove kraft ipo: Stove Kraft debuts at 29% premium over issue price


Synopsis
The Rs 413 crore IPO, which ran from January 25 to January 28, was subscribed 18 times.
Analysts said that the Stove Kraft IPO was priced at 34.5 times PE on a trailing basis.
NEW DELHI: Kitchen appliance maker Stove Kraft got listed at Rs 467 on BSE on Friday, a premium of 21.30 per cent over the issue price. On NSE, the stock debuted at Rs 498, up 29.35 per cent from the issue price.
The Rs 413-crore IPO, which ran from January 25 to January 28, was subscribed 18 times, with non-institutional investors bidding 32.72 times the allocated quota of shares.
The issue comprised a fresh issue of up to Rs 95 crore and an offer for sale of up to 82.50 lakh equity shares. The price range for the offer was at Rs 384-385 apiece. Stove Kraft had raised a little over Rs 185 crore from anchor investors.

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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 the back of cost-cutting measures of late, such a trend is unsustainable. They remained neutral on the issue and advised only aggressive investors with high risk appetite to participate in the IPO.

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stove kraft ipo: Stove Kraft issue aggressively priced, needs high risk appetite

Stove Krafts increasing profitability in recent months, mainly from cost-cutting measures and improved investor sentiment about the kitchenware segment, may help the company with a positive listing. The three-day IPO opens on Monday.

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Stove Kraft's Rs 413-crore IPO fully subscribed on Day-1, closes Thursday

Read more about Stove Kraft's Rs 413-crore IPO fully subscribed on Day-1, closes Thursday on Business Standard. Price band set at Rs 384-385; IPO is comprised of Rs 95 cr of fresh fund raise, Rs 318 cr secondary share sale

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Stove Kraft IPO opens today: Should you subscribe to the issue?


Stove Kraft IPO opens today: Should you subscribe to the issue?
The Rs 412.62 crore IPO, that closes on January 28 comprises fresh issue of shares worth Rs 95 crore and an offer-for-sale (OFS) of up to 82.50 lakh equity shares
BusinessToday.In | January 25, 2021 | Updated 13:56 IST
Lot size of Stove Kraft IPO is 38 shares
The fourth public issue of the calendar year 2021, Stove Kraft initial public offer (IPO) is in progress on January 25. Price band has been fixed at Rs 384-385 per share.
Lot size of Stove Kraft IPO is 38 shares. A retail-individual investor can apply for multiples of 13 lots, thereafter for a minimum amount of Rs 14,630 and maximum of 494 shares for Rs 190,190. The book running lead managers to the IPO are Edelweiss Financial Services and JM Financial. KFin Technologies Private Ltd is the registrar to the issue. The company has already raised Rs 185 crore via anchor investors portion that was open for subscription on January 22, 2021.

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