Stove Kraft off to a strong start, lists at 29% premium over issue price

The initial public offering of Stove Kraft had received good response from investors with the issue garnering 18 times subscription

Shares of Stove Kraft staged a strong debut on the bourses on Friday with stock listing at Rs 498, a 29 per cent premium over its issue price of Rs 385 per share on the National Stock Exchange (NSE). On the BSE, the stock listed at Rs 467, 21 per cent higher than its issue price.

At 10:17 am, Stove Kraft was trading at Rs 463, down 7 per cent from its opening level on the NSE. A combined around 5 million equity shares have changed hands on the counter so far.

The initial public offering (IPO) of Stove Kraft had received