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Stove Kraft IPO Details, Review - All You Need to Know

Four IPO of this year is here.

It is an Indian company that manufactures kitchen appliances under the Pigeon and Gilma Brands. Ask your mom whether she has used these brands or not, or even you can check your own whether the cooking appliances of Pigeon and Gilma brands are there or not in your home. And let me know in the comment section.

What Covered:

Before you apply for IPO. Let's know some details of the Stove Kraft.

Stove Kraft was founded by Rajendra Gandhi, manufacturing kerosene wick Stove in the year 1994. In 1997 Stove Kraft became the largest manufacturer of LPG stoves in India. In 1999 became an incorporated company. Its headquarter is in Bangalore, Karnataka.

In the year 2001, stove kraft launched its two brands Pigeon and Gilma. Stove Kraft has two manufacturing facilities in India at Bangalore and Baddi.

In 2017, Stove Kraft entered into a licensing agreement with an American home appliances manufacturer Black+Decker to sell its product in Indian Market.

Stove Kraft sells its product in 27 states and 5 Union territories in India, and under the "Gilima" brand, it has 65 stores across 4 states and 28 cities. Stove Kraft also exports to countries like the USA, Mexico, Kenya, Qatar, Sri Lanka, Fiji, Bahrain, Kuwait, etc.

Stove Kraft IPO Details

IPO Opening Date : Jan 25, 2021

IPO Closing Date : Jan 28, 2021

Issue Type : Book Built Issue IPO

Face Value : ₹ 10 per equity share

IPO Price : ₹ 384 to ₹ 385 per equity share

Market Lot : 38 Shares

Listing At : BSE, NSE

Issue Size : [.] Eq Shares of ₹10 (aggregating up to ₹412.63 Cr)

Fresh Issue : [.] Eq Shares of ₹10 (aggregating up to ₹95.00 Cr)

Offer for Sale : 8,250,000 Eq Shares of ₹10 (aggregating up to ₹[.] Cr)

The offer for sale comprises 4,92,080 shares by Sequoia Capital India Growth Investment Holdings (20.07%) and up to 6,007,920 shares by SCI Growth Investments II. 6,90,700 shares by promoter Rajendra Gandhi; up to 59,300 shares by promoter Sunita Rajendra Gandhi.

The Fresh Issue towards funding the following objects:

  • Repayment/pre-payment, in full or part, of certain borrowings availed by the Company; and

  • General corporate purposes

Stove Kraft IPO Tentative Timetable

IPO Open Date : Jan 25, 2021

IPO Close Date : Jan 28, 2021

Basis of Allotment Date : Feb 2, 2021

Initiation of Refunds : Feb 3, 2021

Credit of Shares to Demat Account : Feb 4, 2021

IPO Listing Date : Feb 5, 2021

Stove Kraft IPO Lot Size

Minimum lot 1 amount to ₹14,630 (cut-off).

Maximum lot 13 amount to ₹190,190 (cut-off)

Market competitors

No doubt Stove Kraft has a well-built market, but it also has strong market competitors such as Prestige, Hawkins Cookers Limited, Bajaj Ltd, Butterfly Kitchen Appliances. Let us understand the market share of companies through a chart.

Stove Kraft IPO Details, Review - All You Need to Know
Stove Kraft - Market Share

Total Assets of the Company

Company assets increase continuously. Over the last three-year assets have grown at a Compound Annual Growth Rate (CAGR) of 6.05%. let's check out the graph

Stove Kraft IPO Details, Review - All You Need to Know
Stove Kraft - Total Assets

Company Revenue

Company Revenue has also increased continuously over the last three years at a CAGR of 7.98%. let's check out the graph

Stove Kraft IPO Details, Review - All You Need to Know
Stove Kraft - Revenue

Company Profit

In the year 2018 company has a negative profit of ₹ (12.02) crores. In 2019 and 2020 company has a positive profit of ₹ 1.89 and ₹ 3.17 crores respectively. let's check out the graph

Stove Kraft IPO Details, Review - All You Need to Know
Stove Kraft - Net Profit

Industrial Overview

Globally, the market for kitchen appliances is valued at about $253.4 billion, as of 2020. In

India, the overall market for appliances and consumer electronics was valued at Rs. 20,500 crores in 2017. It is expected to grow to Rs. 31,500 crores by 2022.

Comment down below whether you are applying for this IPO or not.

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