Stove Craft Share Allotment: Allotment of shares in the IPO of Stove Craft, a manufacturer of kitchen appliances, is going to be held today, February 2 i.e. Tuesday.
Stove Craft Share Allotment: Allotment of shares in the IPO of Stove Craft, a manufacturer of kitchen appliances, is going to be held today, February 2 i.e. Tuesday. That is, the company’s stock can come in your demat account today. There has been a good craze among investors regarding Stove Craft’s IPO and it has been subscribed 18 times. The share of retail investors has been filled up to 26 times. The IPO is expected to be listed in the market with a premium. In such a situation, if you have also invested in an IPO, then you would like to know whether you will get its shares or not. Apart from BSE website, you can find tax on this matter from the website of the registrar.
Good investor response
Stove Craft’s IPO opened on 25 January and closed on 28 January. The issue price for this IPO was Rs 384-385. Lot size 38 shares have been kept in this IPO. That is, you have to invest for at least 38 shares. In the Stove Craft IPO, reserve for retail investors subscribed around 26 times, while for non-institutional investors, the reserve was filled by about 32.72 times. While the Porson kept for qualified institutional buyers is almost 8 times full.
Option 1: From BSE website
- For this, first you have to go to the BSE website.
- After that the equity box has to be checked.
- Then you have to enter the issue name <Stove Craft> in the dropdown.
- After that you have to type your application number in the box.
- After that you will have to provide information about your PAN number.
- Finally, you have to click on the search button, after which the complete information will be revealed.
Option 2: On the registrar’s website
- Link Intime India is the registrar for this issue. For this IPO one has to go to the registrar’s website.
- The website is https://www.linkintime.co.in/IPO/public-issues.html.
- Type in the company name <Stove Craft> in the dropdown.
- After this, enter the PAN number, application number or depository / client ID in the box,
- then enter the captcha and click on the search button.
(Note – If the share is allotted, then the status will be visible.)
Where will the company use the funds
Of the funds that will come to the company through this IPO, 76 crore rupees will be used to repay the debt and the remaining funds will be spent in corporate needs. The company has set a target of raising Rs 413 crore through it. The company hired Edelweiss Financial Services and JM Financial as the lead managers for the IPO.
Opinion on investment
Experts believe that stove craft has a higher valuation than peer companies. According to brokerage house Angel Broking, the brand value, margin and returns of the company are weak compared to some peer companies. There is still further uncertainty about the profit, in such a situation there is a neutral rating. Although the brokerage also says that the company’s margin has improved in the first half of FY 2021 due to cast cutting and some other measures, but there is a concern about how sustainable it is. After Kovid-19 once again when the business is normal, the travel cast, advertising expenses will increase again.
