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Stove Kraft shares gain 16% on debut after touching high of Rs 496

Close at Rs 456; stock currently trades at about 25x its estimated earnings for FY21-similar to Butterfly Gandhimati but almost half that of TTK Prestige

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Stove Kraft IPO, which had closed on January 28, had garnered 18 times subscription

Sundar Sethuraman

2 min read Last Updated : Feb 06 2021 | 12:39 AM IST

Shares of kitchen appliances maker Stove Kraft gained 16 per cent on Friday, the day of its trading debut. The stock closed the session at Rs 456, registering a gain of Rs 61, or 16 per cent, over its listing price of Rs 385.

It touched a high of Rs 496 and low of Rs 435. At the closing price, the company had a market capitalisation of Rs 1,451 crore.

The stock is currently trading at close to 25x its estimated earnings for FY21 — similar to that of Butterfly Gandhimati but almost half that of TTK Prestige.

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Topics : Markets initial public offerings IPOs

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