Stove Craft raised Rs. 185 crore from its anchor investors ahead of the IPO

The company has raised Rs. 185 crore from its anchor investors ahead of its proposed IPO. A total of 48,22,290 equity shares were allotted to anchor investors on Friday at an upper price band of Rs. 385 per share. The List of Anchor Investors of Stove Kraft Ltd. is given here under this post.

Stove Kraft Ltd. IPO

In January 2021, Stove kraft Limited will be the 4th company, set to launch an IPO. The Stove Kraft Ltd. IPO will open for subscription on 25th January 2021 and will close on 28th January 2021. It will comprise a fresh issue of equity shares aggregating to Rs. 95 Crore and offer for sale of up to Rs. 82.50 lakh equity shares.

The company is one of the largest kitchen appliances suppliers in India. It manufactures and sells kitchen solutions under the brand name of “Pigeon” and “Gilma”. Stove Krafts Ltd. also plans to commence manufacturing of cost-efficient, semi-premium, and premium kitchen solutions under the Black+ Decker brand.

The company will utilize the net proceeds from the public issue towards repayment or pre-payment of certain borrowings availed by the firm and for other general corporate purposes.

The lead managers to issue are Edelweiss Financial Service Limited, JM Financial Limited, and the registrar to this issue is KFin Technologies Private Limited.

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List of Anchor Investors of Stove Kraft Ltd.

According to the BSE Circulars issued, late evening on Friday, Stove Kraft has raised Rs. 185 crore from 32 of its anchor investors at an upper price band of Rs. 385.

Here is the list of Anchor Investors of Stove Kraft Ltd.-

⚓ Goldman Sachs India

⚓ Nippon Life India Trustee.

⚓ Bajaj Allianz Life Insurance Company

⚓ IIFL Special Opportunities Fund

⚓ Integrated Core Strategic Asia PTE

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⚓ Sundaram Mutual Funds

⚓ Ashoka India Equity Investment Trust PLC

⚓ Macquarie Unit Trust Series

⚓ Sundaram Mutual Fund

⚓ Edelweiss Alternative Investment Opportunities Trust

⚓ Integrated Core Strategies Asia PTE Ltd.

Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.

Investment in the securities market is subject to market risk. Read all scheme related documents before investing.

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