Stove Kraft share price debuts at Rs 498, a 29% premium over issue price

The shares of Stovekraft, the leading kitchen appliance maker got a perfect kickstart today as they were trading with a high premium of 29.35 per cent on the National Stock Exchange. The benchmark index NIFTY50 also crossed the 15,000 mark for the first time ever.

The stock got an opening at levels of 498 on the exchange against the public issue price of 385, whereas on the Bombay Stock Exchange it rose to a level of 467 on opening which is a growth of 21.30 per cent.

On NSE the shares of Stovekraft were trading at Rs 464, up by nearly 20.5 per cent with a volume of 23.92 lakh.

Stovekraft was incorporated in 1999 and is amongst the top players in kitchen solutions. The brand has also stepped into the home solutions market. The company raised 413 crores via the public issue which was subscribed 18 times during January 25-28th. The company plans to use these funds for clearing some of its debts.