The initial public offer (IPO) of Stove Kraft -- the manufacturer of kitchen appliances -- has opened for subscription today with a price band of Rs 384-385 per share.
The issue will close on January 28, 2021.
The brokerages have assigned a 'Neutral' rating on the company’s IPO given its high valuation compared to listed peers on FY20 earnings. Brokerages are skeptical over the sustainability of the company’s improved profitability in H1FY21.
Brokerages such as Groww offer the option of investing in it through their platforms.
Here are the steps to invest in Stove Kraft IPO via Groww website/app:
Step 1: Visit groww.in/ipo. If you are using the Groww app, then go to the stocks tab and scroll down to see the list of live IPOs. Select Stove Kraft IPO.
Step 2: As you click on Stove Kraft IPO you will be able to view important details such as issue size, price, etc on the IPO Card. You can also read the 'Red Herring Prospectus' for detailed information about the objects of the offer, promoters etc. Click on ‘Apply’ to proceed.
Step 3: In the order card, you will be able to see the pre-filled field for the minimum number of shares, which is 38 shares in this case. Enter the number of shares you want to buy, however, please note, the number of shares you can buy will be in multiples of 38 only. You can also place up to 3 bids at the price range (Rs 384 to Rs 385 ) or place all the bids at the cut off price (Rs.385). Click on ‘Continue’ to proceed.
Step 4: Enter UPI ID, verify bids and click on ‘Submit Bid‘.
Step 5: A request will be sent to your UPI app. Approve the mandate to confirm the order. Upon confirming, the highest bid amount will be blocked in your account and cannot be used for withdrawal. This amount will get unblocked in case you do not receive an allotment.
