StoveKraft IPO Subscription Status: FINAL
| Investor Category | Quota | Subscription |
|---|---|---|
| Institutional (QIB) | 50% | 8.018x |
| Non-Insti. (HNI) | 15% | 32.721x |
| Retail (RII) | 35% | 26.039x |
| Total Subscription | 100% | 18.032x |
Stovekraft Limited, incorporated in 1999, is one of the leading brands for kitchen appliances in India and is one of the dominant players for pressure cookers and amongst the market leaders in the sale of free-standing hobs and cooktops.
StoveKraft IPO Subscription: End of Day Update
| Day | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.000x | 0.082x | 8.018x |
| HNI | 0.047x | 1.853x | 32.721x |
| Retail | 5.373x | 13.074x | 26.039x |
| Total | 0.986x | 2.923x | 18.032x |
StoveKraft IPO Subscription: Key IPO Details
| Type | Value |
|---|---|
| Issue Size | ₹412.63 Cr |
| Issue Open | 25/01/2020 10:00 AM |
| Issue Close | 28/01/2020 10:00 AM |
| Face Value | ₹10/- per Equity Share |
| IPO Price | ₹384 – ₹385 |
| Lot Size | 38 shares |
| Lots | Min 1 – Max 13 |
| Price to Earnings (2020) | Basic EPS | P/E |
|---|---|---|
| Stovekraft (03/2020) | 1.28 | 300.78* |
| Stovekraft (09/2020) | 11.64 | 33.07* |
| Prestige (03/2020) | 133.13 | 60.98 |
| Hawkins (03/2020) | 137.09 | 41.94 |
| Butterfly (03/2020) | 1.83 | 287.43 |
| Sector P/E | – | 58.75 |
StoveKraft IPO: Analyst Recommendations
MoneyWorks4me – AVOID
“With sales of Rs. ~650 Cr, Stove Kraft is demanding Enterprise value /Sales of more than 2x. Enterprise Value = Market Cap (1250 Cr) + Debt (300 Cr) – Cash from IPO (100 Cr). With the limited scale and low ROE, we recommend AVOID.“
Choice Broking – AVOID
“As per our view, investors can give a miss to this IPO where the sustainability of profitability going forward is a concern and the company sitting on high ideal capacity in brand building business (Capacity utilisation of 26.8% in FY20 and 20% in H1FY21)”
Angel Broking – Neutral
“Due to cost cutting measures, the company margins improved in the H1FY21 which is not sustainable. Costs such as travelling, advertisement reduced in H1FY21 due to Covid-19 are going to come back once business comes back to normalcy,”
StoveKraft IPO Subscription – FAQs
1. How to apply for Stovekraft IPO in Retail Category?
A: An investor in retail category may either apply through the UPI process via DEMAT account or the ASBA process via bank account
2. How to apply for Stovekraft IPO in HNI Category?
A: An investor can apply in HNI category only through the ASBA process via bank account
3. Where can I find the Red Herring Prospects (RHP) details?
A: You can visit the NSE or SEBI website for these details. Alternately you can click here: RHP
