Kitchen solutions company is looking to raise upto ₹ 412.62 crores through capital markets.
Selling kitchen solutions under brand name of Pigeon and Glima
Company has global presence across Middle East, Kenya, Uganda, Qatar, Sri Lanka, Fiji, Bahrain, Kuwait, Oman and Tanzania. B2B clientele includes Walmart, Big Lots, and Belk in USA.
The company has the single largest manufacturing facility for kitchen appliances in the country in Bangalore and another manufacturing unit at Baddi, Himachal Pradesh
| IPO Opens | IPO Closes | Price Band (₹/Sh) | Listing Date |
|---|---|---|---|
| 25-Jan-2021 | 28-Jan-2021 | 384 to 385 | 5-Feb-2020 |
Company is into manufacture and distribution of Kitchen applicances
During the six month periods ended September 30, 2020 and September 30, 2019 and for Fiscals 2020, 2019 and 2018 Pigeon branded products contributed 76.90%, 80.86%, 86.20%, 81.24% and 86.89% to overall sales, respectively and were amongst the leading brands in the market for certain products such as free standing hobs, cooktops, non-stick cookware, LPG gas stoves and induction cooktops (Source: F&S Report, sponsored by Company). Similarly, during the six month periods ended September 30, 2020 and September 30, 2019 and for Fiscals 2020, 2019 and 2018 Gilma branded products contributed 5.43%, 2.36%, 2.54%,3.75% and 5.58% to overall sales, respectively and BLACK + DECKER products contributed 1.50%, 2.37%, 2.70%,2.67% and 0.88% to overall sales, respectively. Gilma portfolio comprises chimneys, hobs and cooktops across price ranges and designs.
Company would raise ₹ 412.62 crores through this IPO. The objects for which the Net Proceeds from the Offer shall be utilized 1) Repayment/pre-payment, in full or part, of certain borrowings availed by our Company 2) General corporate purposes
Promoters of Stove Kraft is Rajendra Gandhi and Sunita Rajendra Gandhi
About Industry
Globally, the kitchen appliances market comprises instruments or devices designed for smooth functioning of kitchen
activities. Kitchen appliances are used mainly for food preparation, cooking, storage and cleaning functions. The
Global Kitchen Appliances Market is expected to touch $253.4 billion by 2020, registering a CAGR of 6.4% during
the forecast period 2014-2020
Major players currently operating in the Indian kitchen appliances market include TTK Prestige, Stove Kraft Limited, Gandhimathi Appliances Ltd, Hawkins, Bajaj Electricals, Preethi Industries Ltd., Glen, Faber, Kaff Appliances, Inalsa, IFB, Panasonic, and Phillips, etc
Key Pointers
- Strong Brand presence of Pigeon and Gilma with market presence of over 15 years
- Present in 14+ countries
- 34,000+ Dealers Network
- 650+ Product portfolio
- 2000+ employees
- Single largest manufacturing facility
Key Management
| Rajendra Gandhi | MD |
| Shashidhar SK | CFO & Company Secretary |
Stove Kraft IPO Snapshot
| Issue Open | 25-Jan-2021 |
| Issue Close | 28-Jan-2021 |
| Face Value | ₹ 10/- |
| Price Band | ₹ 384 to ₹ 385 (Including premium of ₹ 374 to ₹ 375 per share) |
| Discount | Nil |
| Bid Lot | 38 shares and in multiples |
| Listing on | BSE and NSE |
| Mode of Payment | UPI / ASBA (Mandatory); Applications using third party UPI/ASBA Bank accounts are liable to rejected |
Stove Kraft Issue & Subscribed Details
| Particulars | Issued | Subscribed |
|---|---|---|
| Issue Size | ₹ 412.62 Crores (Upper Band) | ₹ - Crores |
| QIB Portion | ~50% | TBA times |
| NII Portion (Application for lot size of 15 & above) | ~15% | TBA times |
| Retail Portion (Applications for lot size between 1 & upto 15) | ~35% | TBA times |
| Employees Portion | NA | NA |
| Total | 100% | TBA times |
Stove Kraft IPO Indicative Dates
| Issue Open | 25-Jan-2021 |
| Issue Close | 28-Jan-2021 |
| Anchor Investor Bidding | One working day prior to Issue opening date of 25-Jan-2021 (around 22-Jan-2021) |
| Announcement of Allotment | 2-Feb-2021 |
| Initiation of Refunds | 3-Feb-2021 |
| Credit of Shares | 4-Feb-2021 |
| Listing (Commencement of trading on Stock Exchanges) | 5-Feb-2021 |
Lead Managers of Stove Kraft IPO
List of Book Running and Lead/Co-Lead Manager/s
| Edelweiss Financial Services Limited |
| JM Financial Limited |
Registrar of Stove Kraft IPO
| KFin Technologies Private Limited |
Valuation
Company is looking at the following valuation
| Issue Size | ₹ 412.62 Crores (Upper Band |
| Pre-Issue Promoter's Holding | 61.31% |
| Post Issue Promoter's Holding | TBA% |
| Pre-Issue Shares | 3.0 Crores |
| Post Issue Shares | TBA Crores |
| Post Issue Market Cap (based on Price band) | ₹ TBA to ₹ TBA Crores |
Address of Stove Kraft
| Name | Stove Kraft Limited |
| Incorporated | June 28, 1999 |
| Corporate Identity Number | U29301KA1999PLC025387 |
| Contact Person | Shashidhar SK, Chief Financial Officer, Company Secretary and Compliance Officer |
| Registered and Corporate Office | : 81/1, Medamarana Halli Village, Harohalli Hobli, Kanakapura Taluk, Ramanagar District, 562 112, Karnataka, India | Tel: +91 80 2801 6222 | Fax: +91 80 2801 6209 |
| Website | : www.stovekraft.com |
| cs@stovekraft.com |
Check Allotment Status of Stove Kraft IPO
| Please check below or visit here to check allotment status of IPO |
Source: DRHP, RHP, Company, Company Website | Logo/Images published in the article may be copyright of respective companies.
Frequently Asked Questions (FAQ)
| Q. How to Apply for IPO ? A. IPO can be applied Online and Offline mode. Online: a) Via Net banking of Bank website b) Via Stock brokers portal Offline: a) Collect application forms from Brokers > Fill demat details & UPI > Submit to any broker across India. b) Download forms from NSE/BSE website > Fill demat details & UPI > Submit to any broker across India. |
| Q. How to register for BHIM UPI? UPI is made mandatory by SEBI to apply for IPO's. To educate investors National Payment Corporation of India (NPCI) has come out with the useful video. This video educates on how to download BHIM UPI app and its process to register. Source: NPCI |
| What is UPI based ASBA Process ? To educate people to apply for IPO's National Payment Corporation of India (NPCI) has come out with the useful video. This video educates consumers on how the IPO process works and how subscribing for IPOs via BHIM UPI helps reduce the time and effort one needs to take for the same. Source: NPCI |
| Q3? Ans Source: NPCI |
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