Business Standard

Stove Kraft files draft papers for IPO


Press Trust of India New Delhi
Kitchen appliances maker Stove Kraft has filed initial papers with Sebi for an initial public offer.
The initial issue comprises fresh issuance of equity shares worth up to Rs 145 crore and an offer of sale for up to 7,163,721 shares, according to the Draft Red Herring Prospectus (DRHP).
The promoters -- Rajendra Gandhi, Sunita Rajendra Gandhi -- and venture capital firm Sequoia Capital India Growth Investment would be offloading their shares.
The company would utilise the funds raised through IPO for paying certain borrowing and for other general corporate purposes.
Edelweiss Financial Services Ltd, IDFC Bank and JM Financial Ltd would manage the company's initial public offer.
Stove Kraft is engaged in the manufacturing of pressure cookers and retail of kitchen solutions under brand named Pigeon and Gilma.

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First Published: Sep 28 2018 | 10:20 PM IST

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