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Stove Kraft Limited IPO Detail

Stove Kraft Limited IPO Detail

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 planning 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 distribute 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 has manufacturing facilities at Bengaluru (Karnataka) and Baddi (Himachal Pradesh). All Pigeon and Gilima branded appliances are manufactured at its Bengaluru unit and the Baddi facility focuses on Oil Company Business (OCB) to manufacture products like LPG stoves, inner lid cooker, etc.

Competitive strength

  • One of the largest kitchen appliance company in India.
  • Diversified product portfolio.
  • Strong brand name.
  • Strong distribution network.
  • Well-equipped manufacturing facility.

Company Promoters

Rajendra Gandhi and Sunita Rajendra Gandhi are the company promoters.

IPO Details

IPO Opening DateJan 25, 2021
IPO Closing DateJan 28, 2021
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹384 - 385 per equity share
Market Lot38 Shares
Min Order Quantity38 Shares
Listing AtBSE, NSE
Issue Size₹412.63 Cr
Fresh IssueEq Shares of ₹10 (aggregating up to ₹95.00 Cr)
Offer for Sale8,250,000 Eq Shares of ₹10 (aggregating up to ₹[.] Cr)
Retail Portion -

IPO Tentative Timetable

The Stove Kraft Limited IPO open date is Jan 25, 2021, and the close date is Jan 28, 2021. The issue may list on Feb 05, 2021.

IPO Open DateJan 25, 2021
IPO Close DateJan 28, 2021
Basis of Allotment DateFeb 02, 2021
Initiation of RefundsFeb 03, 2021
Credit of Shares to Demat AccountFeb 04, 2021
IPO Listing DateFeb 05, 2021

IPO Lot Size

The Stove Kraft Limited IPO market lot size is 38 shares. A retail-individual investor can apply for up to 13 lots (494 shares or ₹190190).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding61.31%
Post Issue Share Holding54.36%

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
30-Sep-20 4,984.99 3,295.09 287.76
31-Mar-20 4,712.91 6,729.14 31.70
31-Mar-19 4,257.26 6,425.98 7.36
31-Mar-18 3,936.42 5,345.85 (120.18)

Objects of the Issue:

The IPO proceed will be used for the following purposes;

  • To make the repayment or prepayment payment of company's borrowings fully or partially
  • To meet general corporate purposes.