Stove Kraft IPO to open on January 25: price band fixed at ₹384-385 a share

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Stove Kraft Limited , one of the leading brands for kitchen appliances in India and one of the dominant players for pressure cookers and amongst the market leaders in the sale of free standing hobs and cooktops will open the Bid/ Offer in relation to its initial public offer of equity shares of face value of ₹10 each on Monday, January 25, 2021. The price band of the Offer has been fixed at ₹384 to ₹385 per Equity Share. The Bid/ Offer period will close on Thursday, January 28, 2021. The Company and the Selling Shareholders may, in consultation with the BRLMs, consider participation by Anchor Investors which shall be one Working Day prior to the Bid/ Offer Opening Date.

The initial public offering comprises of a fresh issue aggregating ₹950.00 million and an offer for sale of up to 8,250,000 equity shares comprising of up to 690,700 equity shares by promoter, Rajendra Gandhi, up to 59,300 equity shares by promoter, Sunita Rajendra Gandhi (together with Rajendra Gandhi, “Promoter Selling Shareholders”), up to 1,492,080 equity shares by Sequoia Capital India Growth Investment Holdings I (“SCI-GIH”) and up to 6,007,920 equity shares by SCI Growth Investments II (“SCI”, together with SCI-GIH, “Investor Selling Shareholders”) (the Investor Selling Shareholders together with the Promoter Selling Shareholders, the “Selling Shareholders”).

Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter.

to Mutual Funds only, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Offer cannot be allotted to QIBs, the Bid Amounts received by the Company shall be refunded.

Business Gujarat News

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