Stove Kraft, a kitchen appliances company, is set to open it’s first initial public offering (IPO) on January 25 and close on January 28. Here are some things to know before the issue opens:
The initial public offering consists of Rs.95 crore fresh issue by the company and Rs.85 lakh equity shares by promoters and investors for sale offering. Stove Kraft plans to use the income from the issue to repay Rs.76 crore in borrowings and for common corporate reasons. The money from sale portion offers will go to selling shareholders and promoters.
The company has a fixed price band of Rs.384-385 lakh per share along with the shareholders that are selling. They plan to raise Rs.411-412.63 crore in funds through the public offering.