Stovekraft Limited which had tapped the capital markets with its fresh issue of Rs 95 crs and an offer for sale of 82.5 lac shares in a price band of Rs 384-385 was subscribed 20.85 times. The issue saw the QIB portion subscribed 8.02 times, HNI portion subscribed 32.72 times and Retail Portion subscribed 26.04 times. There were 5.88 lac applications and on basis of number of lots, the issue was subscribed 20.85 times. This issue consisted of an allocation of 75% for QIB’s, 15% for HNI’s and 10% for Retail. Hence the number of forms is significantly lower than those received in IRFC or Indigo Paints.

Earlier the company had completed allocation to anchor investors. The company allotted 48,22,890 equity shares at Rs 385 to 15 anchor investors comprising of 32 entities. The highest allocation of 5,19,460 shares or 10.77% was made equally to four investors namely, Nippon India, Goldman Sachs, Ashoka India Equity Fund and Sundaram Mutual Fund. This was followed by an equal allotment of 3,63,622 equity shares or 7.54% to three anchor investors. This meant that 65.70% of the anchor book was distributed amongst seven anchor investors.

Full details of the subscription in various buckets is given below: –