Stove Kraft shares close with nearly 16 pc premium in debut trade
Shares of kitchen appliances manufacturer Stove Kraft on Friday closed with a premium of nearly 16 per cent against its issue price of Rs 385 in its debut trade.The stock made a debut at Rs 467, recording a gain of 21.29 per cent from the issue price on BSE.
- Country:
- India
Shares of kitchen appliances manufacturer Stove Kraft on Friday closed with a premium of nearly 16 per cent against its issue price of Rs 385 in its debut trade.
The stock made a debut at Rs 467, recording a gain of 21.29 per cent from the issue price on BSE. Later, it jumped 28.71 per cent to Rs 495.55 during the day. It finally closed at Rs 445.95, a gain of 15.83 per cent.
On NSE, it closed at Rs 439.15, rising 14 per cent. Earlier in the day, it listed at Rs 498, gaining 29.35 per cent against the issue price.
The company's market valuation was at Rs 1,451.49 crore on BSE.
In volume terms, 9.61 lakh shares were traded at BSE and over 1.07 crore on NSE. The Rs 412.62-crore initial public offer of Stove Kraft was subscribed 18 times last month.
Price range for the offer was at Rs 384-385 a share.
The company is engaged in the manufacture and retail of a wide and diverse suite of kitchen solutions under Pigeon and Gilma brands.
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