Stove Craft IPO: The shares of the kitchen appliance maker Stove Kraft are allotted today. The company’s IPO opened on January 25 and closed on January 28. The market was closed on 26 January one day in between. Its issue price was Rs 384-385. If you have also invested in it, then shares can come in your demat account today. Know how you can check your status whether you got a share or not.
Check share allocation status as
– First of all visit the website of the Registrar ASBA of this IPO.
– After this, select the IPO of Stove Craft.
– If entering application number, select ASBA or NON-ASBA in application type and enter the application number.
– If entering DPID or Client ID, select NSDL or CDSL in the depository and enter DPID or Client ID.
– At the same time, if selecting PAN, enter the PAN number and enter it. The share allotment status will appear.
Check on BSE website like this
First go to www.bseindia.com. Then select Equity in the issue type. After this, choose Stove Craft in the name of the issue. After this, fill the application number and after entering the PAN, click on the Search button. The share will appear on the Share Allotment Status screen.
How was the response of investors on IPO
There was a great response among investors regarding the IPO of Stove Craft, a kitchen appliance maker. The company’s IPO was subscribed 3.7 times till the last day of bidding. It was subscribed 2.13 times by non-institutional investors. Retail Investors subscribed 15.7 times. Non-institutional investors subscribed to this IPO 2.13 times.
The company has an IPO price band of Rs 384-385 per share. The IPO lot size is 38 shares and retail investors can apply for a maximum of 13 lots. The company has raised Rs 185 from 32 anchor investors.
Where will the company use the funds?
The company has issued fresh shares worth Rs 95 crore. Apart from this, the promoters and investors of the company have issued 82.50 lakh equity shares under Offer for Sale (OFS). Of the funds that will come to the company through this IPO, 76 crore rupees will be used to repay the debt and the remaining funds will be spent in corporate needs. The company hired Edelweiss Financial Services and JM Financial as the lead managers for the IPO.
Know the opinion of a brokerage firm
Angel Broking says that the company’s brand value, margin and return are lower than its competitors Prestige and Hawkings. Hence the brokerage firm has given it neutral ratings. The firm further stated that Stove Craft placed the share price in this issue at 34.5 times based on the price to earnings ratio. Whereas, its competitors TTK Prestige are trading at 61.0x and Hawkings at 47.5x.
