Those who had placed bids for Stove Kraft issue can check the subscription status on the registrar’s website The kitchen appliance manufacturer and home solutions firm, Stove Kraft’s Rs 412-crore initial public offer (IPO), which was subscribed 18 per cent, is set to make its share market debut on Friday, February 5, 2021. The issue was sold in the price band of Rs 384-385 apiece. Stove Kraft caters in the sub-premium and premium segment through its brands such as Pigeon, Gilma, and BLACK + DECKER. In the grey market today, Stove Kraft shares were seen quoting a premium of Rs 35-40 apiece, over the issue price. The shares were trading at Rs 425, implying a premium of over 10 per cent in the grey market.
Those who had placed bids for Stove Kraft issue can check the subscription status on the registrar’s website, i.e. from KFin Technologies Private Limited, a SEBI-registered entity responsible for the IPO allotment and refund processing, and from BSE website. According to the IPO prospectus, Stove Kraft shares will be credited to the demat accounts on Thursday. Gaurav Garg, Head of Research, CapitalVia Global Research Limited, told Financial Express Online that the listing of Stove Kraft may be around Rs 450, with the bullish rally in the markets. Favourable Union Budget 2021 and positive global cues have created a friendly ground for the listing.
Listing day strategy for Stove Kraft
Garg also said that the reduction of import duty on iron and steel seems to have caused a sudden rise in the premium of the stock. “Medium to long term traders may hold their positions for the foreseeable future, short-term investors may book the listing gains (if any). Investors who did not get the allotment may buy the shares on listing day up to Rs 485,” Gaurav Garg said.
Check Stove Kraft share allotment status via KFin Technologies Private Ltd
Investors can check the allotment status on KFin Technologies website under ‘IPO Status’ section (https://ris.kfintech.com/ipostatus/). After that select the IPO and enter either your application number or DPID/Client ID or PAN. In case of the application number box, select application type and enter the application number. If the DPID/Client ID box is chosen, select the depository from the drop-down menu, enter DPIP, Client ID. If the PAN option box was chosen, enter the permanent account number. In the last step, enter the given captcha and click submit.
Check Stove Kraft share allotment status via BSE
Another way to check the allotment status in Stove Kraft is through BSE website (https://www.bseindia.com/investors/appli_check.aspx). Select the issue type as ‘equity’, and the issue name as ‘Stove Kraft’ from the drop-down list. After that enter application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.
This article is auto-generated by Algorithm Source: www.financialexpress.com
