Stove Kraft shares gain 15% in debut trade

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Shares of kitchen appliances manufacturer Stove Kraft on February 5 made a decent debut on bourses.

The scrip closed 15.83% higher at Rs 445.95 on the BSE against its issue price of Rs 383. The stock had listed at Rs 467.

In tandem, at the NSE, it listed at Rs 498, up 29.35% against the issue price. However, it settled at Rs 439.15.

The Rs 412.62-crore initial public offer of Stove Kraft was subscribed 18 times. The price range for the public offer was at Rs 384-385 a share.

The company is engaged in the manufacturing and retail of a wide and diverse suite of kitchen solutions under Pigeon and Gilma brands.