Stove Kraft IPO is one of the largest Kitchen appliance suppliers in India and is all set to make a debut in the stock market with an issue size of 412.63 Cr.
Stove Kraft IPO –Overview
| Stove Kraft IPO Issue Date | 25-28 January 2021 |
| Stove Kraft IPO Opening Date | 25 January 2021 |
| Stove Kraft IPO Face Value | INR 10 per share |
| Stove Kraft IPO Price | INR 385 per share |
| Stove Kraft IPO Lot Size | 35 Shares |
| Issue Size | 412.63 Cr |
| Offer for sale | – |
| Issue Type | Book built Issue IPO |
| Listing At | BSE, NSE. |
| QIB Shares Offered | 8.02 times |
| NII (HNI) Shares | 32.72 times |
| Company Promoters | Rajendra Gandhi and Sunita Rajendra Gandhi are the company promoters. |
Stove Kraft IPO Limited IPO-Tentative Dates
| Stove Kraft IPO opening date | 25 Jan 2021 |
| Stove Kraft IPO closing date | 28 Jan 2021 |
| Basis of Allotment | 2 Feb 2021 |
| Initiation of Refunds | 3 Feb 2021 |
| The credit of Shares to Demat | 4 Feb 2021 |
| Stove Kraft IPO Listing Date | 5 Feb 2021 |
Stove Kraft IPO – Industry Overview.
Indian appliance and consumer electronics (ACE) market reached INR 2.05 trillion (US $31.48 billion) in 2017. It is expected to increase at 9% CAGR to reach INR 3.15 trillion (US $48.37 billion) in 2022. Urban markets account for the major share (65%) of total revenues in the consumer durables sector in India The key ‘Large’ and ‘Small’ Cooking Appliances categories, which are covered in the scope of this report, the current market value is estimated at about INR 148.5 billion, which is set to reach INR 238.0 billion by end 2022, growing at a CAGR of about 9.9%.
Stove Kraft IPO – Company Overview
Stove Kraft is one of the largest Kitchen appliance suppliers in India. The company manufactures and sells kitchen solutions under the brand name of “Pigeon” and “Gilima” brands and plans to manufacture value, premium, and semi-premium kitchen supplies under the “Black + Decker” brand. Its product portfolio has 660+ kitchen solutions including cookware, cooking appliances, household utilities, and others. In 2019, it also started manufacturing Pigeon LED products.
The company has a strong distribution network as under the “Pigeon” brand, it has 651 distributors in 27 states and 5 union territories and 12 distributors for exports and under the “Gilima” brand, it has 65 stores across 4 states and 28 cities. It not just distributes its products in the Indian market but also export them to countries like the USA, Mexico, Kenya, Qatar, Sri Lanka, Fiji, Bahrain, Kuwait, etc.
Stove Kraft IPO -Objectives
- To make the repayment or prepayment payment of company’s borrowings fully or partially.
- To meet general corporate purposes.
Stove Kraft IPO – Financial Statements
| Particulars | 31-Dec-20 | 31-Mar-20 | 31-Mar-19 |
| Total Assets | 4,984.99 | 4,712.91 | 4,257.26 |
| Total Revenue | 3,295.09 | 6,729.14 | 6,425.98 |
| Profit After Tax | 287.76 | 31.70 | 7.36 |
Stove Kraft IPO – Strengths
- One of the largest kitchen appliance companies in India.
- Diversified product portfolio.
- Strong brand name.
- Strong distribution network.
- Well-equipped manufacturing facility.
Company Contact Information
Stove Kraft Limited
81/1, Medamarana Halli Village
Harohalli Hobli, Kanakapura Taluk
Ramanagar District, 562 112
Phone: +91 80 2801 6222
Email: cs@stovekraft.com
Website: http://www.stovekraft.com/
Stove Kraft IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: stovekraft.ipo@kfintech.com
Website: https://karisma.kfintech.com/
