StoveKraft is one of the largest Kitchen appliance suppliers in India. The company manufactures and sells kitchen solutions under the brand name of “Pigeon” and “Gilima” brands and planning to manufacture value, premium, and semi-premium kitchen supplies under the “Black + Decker” brand.
Its product portfolio has 660+ kitchen solutions including cookware, cooking appliances, household utilities, and others. In 2019, it also started manufacturing Pigeon LED products.
The company has a strong distribution network as under the “Pigeon” brand, it has 651 distributors in 27 states and 5 union territories and 12 distributors for exports and under the “Gilima” brand, it has 65 stores across 4 states and 28 cities.
It not just distribute its products in the Indian market but also export them to countries like the USA, Mexico, Kenya, Qatar, Sri Lanka, Fiji, Bahrain, Kuwait, etc.
StoveKraft has manufacturing facilities at Bengaluru (Karnataka) and Baddi (Himachal Pradesh). All Pigeon and Gilima branded appliances are manufactured at its Bengaluru unit and the Baddi facility focuses on Oil Company Business (OCB) to manufacture products like LPG stoves, inner lid cooker, etc.
- One of the largest kitchen appliance company in India.
- Diversified product portfolio.
- Strong brand name.
- Strong distribution network.
- Well-equipped manufacturing facility.
Rajendra Gandhi and Sunita Rajendra Gandhi are the company promoters.
|Particulars||For the year/period ended (₹ in million)|
|Profit After Tax||287.76||31.70||7.36||(120.18)|
Objects of the Issue
- To make the repayment or prepayment payment of company’s borrowings fully or partially
- To meet general corporate purposes.
StoveKraft 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|| to  per equity share|
|Market Lot||38 Shares|
|Min Order Quantity||38 Shares|
|Listing At||BSE, NSE|
|Issue Size||₹950 Cr.|
|Offer for Sale||82,50,000 Eq Shares of ₹10|
StoveKraft IPO – Schedule
|IPO Open Date||JAN 25, 2021|
|IPO Close Date||JAN 28, 2021|
|Finalization of Basis of Allotment||FEB 02, 2021|
|Initiation of Refunds||FEB 03, 2021|
|Credit of Shares to Demat Account||FEB 04, 2021|
|IPO Listing Date||FEB 05, 2021|
StoveKraft IPO Lots Size & Price (Retail)
|Application||Lots||Shares||Amount ( Cut-Off)|
Stovekraft IPO: How To Apply
Promoters play a very important role in raising much-needed business revenue.
Apply For Stovekraft IPO Through ASBA
First, you should know what ASBA is. ASBA stands for Restricted Application Support. It is an application by the bank to apply for an IPO.
You apply with ASBA through the bank because initially, the bank covers the cost of purchasing the IPO. This amount is deducted from your account only after receiving IPO share shares in your Demat account.
All the major banks in the country are expanding the ASBA center. There are about 30 banks on the list, some of which are IDBI Bank Limited, Citi Bank, Punjab National Bank, etc.
The center may be expanded once they have been authorized to do so. These banks block the corresponding amount until the IPO allocation process is finalized.
Now, most of you are probably thinking about how to use the Stovekraft IPO with ASBA. The process can be completed online or offline for your convenience.
Apart from this, you can also bid for an Stovekraft IPO through your stockbroker’s online portal (such as Zerodha, Edelweiss, Motilal Oswal, etc.)
Company Contact Information
|Laxmi Organic Industries Limited|
AStove Kraft Limited
81/1, Medamarana Halli Village
Harohalli Hobli, Kanakapura Taluk
Ramanagar District, 562 112
Phone: +91 80 2801 6222