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

The Rs 413-crore IPO of kitchen appliances company Stove Kraft has fully subscribed on Monday, the first day of the issue.

Last week, the company had alloted shares worth Rs 185 crore to anchor investors. The price band for Stove Kraft’s IPO is set at Rs 384-385 per share.

The IPO is comprised of Rs 95 crore of fresh fund raise and Rs 318 crore worth secondary share sale.

At the issue price, Stove Kraft will have post-issue market cap of Rs 1,255 crore. The IPO closes on Thursday.

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