Stove Kraft IPO
Stove Kraft Limited (STOVEKRAFT) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 05 February 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +20.1% (likely range -4% to +40%), day's high +23.8%, chance of a gain 82%. Actual: +29.4% at the open, +29.4% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 32,15,260 | 2,57,75,438 | 8.02x | |
| NII (HNI) total | 16,07,629 | 5,26,01,234 | 32.7x | |
| Retail | 10,71,753 | 2,79,06,706 | 26.0x | |
| Total | 58,94,642 | 10,62,83,378 | 18.0x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 21% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Stove Kraft's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| PSP ProjectsMay 2017 | 8.38x | 10.4x | 6.47x | 8.58x | ₹212 Cr | -9.5% | -5.0% |
| Larsen & Toubro InfotechJul 2016 | 19.9x | 10.8x | 7.39x | 11.7x | ₹1,242 Cr | -6.1% | 0.0% |
| HPL Electric and PowerSep 2016 | 5.77x | 22.2x | 3.31x | 8.06x | ₹417 Cr | -5.9% | -2.0% |
| Neogen ChemicalsApr 2019 | 30.5x | 114x | 16.1x | 41.2x | ₹133 Cr | +16.7% | +22.6% |
| Ircon InternationalSep 2018 | 12.3x | 4.92x | 10.1x | 9.90x | ₹806 Cr | -13.3% | -2.1% |
| Shankara Building ProductsMar 2017 | 51.6x | 90.7x | 15.3x | 41.9x | ₹349 Cr | +20.7% | +38.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Edelweiss Financial Services | 16 | +25.0% | 69% |
| JM Financial | 109 | +22.8% | 75% |
Offer documents (NSE)
Frequently asked
What is the Stove Kraft IPO price band and lot size? ₹384–385 per share, with a lot of 38 shares, so the smallest retail bid is ₹14,630.
How many times has it been subscribed? 18.0x overall: QIB 8.02x, NII 32.7x, retail 26.0x.
How did it list? It opened at ₹498, +29.4% against the issue price of ₹385, and closed its first day +15.8%.
