Stove Kraft IPO nears oversubscription at close of first day of bidding

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The initial public offering (IPO) of Stove Kraft Ltd neared oversubscription on the first day of bidding on Monday. The Rs 412.62-crore IPO of the manufacturer of kitchen appliances received bids for 58,38,776 shares against 58,94,642 shares on offer, translating into 99 per cent subscription, according to the data available with NSE.The initial public offering (IPO) of Stove Kraft Ltd neared oversubscription on the first day of bidding on Monday. The Rs 412.62-crore IPO of the manufacturer of kitchen appliances received bids for 58,38,776 shares against 58,94,642 shares on offer, translating into 99 per cent subscription, according to the data available with NSE.