Companies

Stove Kraft raises ₹186 crore from 32 anchor investors

Our Bureua Mumbai | Updated on January 23, 2021

Sequoia Capital-backed kitchen appliances manufacturer Stove Kraft Ltd has raised ₹185.68 crore from 32 anchor investors at an upper price band of ₹385 per equity share.

The company allotted 48.23 lakh shares ahead of its Initial Public Offering (IPO), which opens on on Monday.

Also Read: Stove Kraft IPO opens on Jan 25

The anchor investors includes Nippon Life India Trustee Ltd, Goldman Sachs India Ltd, Ashoka India Equity Investment Trust PLC, IIFL Special Opportunities Fund, Bajaj Allianz Life Insurance Company Ltd, Macquarie Unit Trust Series, Sundaram Mutual Fund and Edelweiss Alternative Investment Opportunities Trust among others.

On Thursday, the company had fixed a price band of ₹384-385 per share for IPO. The Benguluru-based company is looking to raise ₹412.65 crore at the upper band, and ₹411.82 crore at the lower price band.

The IPO closes on Thursday.

Published on January 23, 2021

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