Stovekraft

Stovekraft is an Indian company that manufactures cooking appliances under Pigeon and Gilma brands. The company was founded in 1999 and is headquartered in Bangalore, Karnataka. Among its cooking appliances are mixer grinders, pressure cookers, cooktops, toasters, chimneys and kitchen utensils.[4][5] It sells its products in 23 states in India and 12 countries overseas.[6][7]

Stovekraft
TypePublic
NSE: STOVEKRAFT
BSE: 543260
Founded1999
FounderRajendra Gandhi
Headquarters
Bangalore, Karnataka
,
India
Key people
Rajendra Gandhi (Chairman & MD)
Neha Gandhi (Director)[1]
Rajiv Mehta (CEO)[2]
ProductsKitchen appliances, cookware
Revenue ₹858.95 crore (US$110 million) (FY 2021)[3]
Websitewww.stovekraft.com

History

Stovekraft operates two manufacturing plant in India including Bangalore, Karnataka, and Baddi, Himachal Pradesh.[8] Around 80 percent of Stovekraft's employees reportedly are women.[9]

In 2017, Stovekraft entered a licensing agreement with American home appliances manufacturer Black+Decker to sell the latter's products in the Indian market.[10][11]

In 2019, the company appointed Rajiv Mehta, the former MD of Puma, as its CEO.[12]

The company launched its initial public offering (IPO) in January 2021, raising more than ₹412 crore (US$54 million).[13] The company was listed on the NSE and BSE on 5 February 2021.[14]

References
  1. "Fast Forward". Business Today. Retrieved 16 June 2020.
  2. "Ex-Puma India head now CEO of Stovekraft". Times of India. Retrieved 16 June 2020.
  3. https://www.moneycontrol.com/livefeed_pdf/Jul2021/ceb4c267-ef79-40cc-b94a-e8c7e13aa5ba.pdf
  4. "IPO-bound Stovekraft looks to expand international presence". Moneycontrol. Retrieved 16 June 2020.
  5. "Stovekraft prepares for IPO before the end of 2019". The Hindu. The Hindu. 20 April 2019.
  6. "Sequoia-backed kitchen appliance maker Stovekraft files for ₹500 crore IPO". Livemint. Retrieved 16 June 2020.
  7. "Stove Kraft gets Sebi's go-ahead to launch IPO". Outlook. Retrieved 16 June 2020.
  8. Sriram, M. (2020-02-04). "Sequoia-backed kitchen appliance maker Stovekraft files for ₹500 crore IPO". mint. Retrieved 2020-11-05.
  9. "This Kitchen Appliance Company is Just a Step Away from Going Public". Entrepreneur. Retrieved 16 June 2020.
  10. "Black & Decker inks licensing deal with Stovekraft". The Economic Times. Retrieved 16 June 2020.
  11. "Stovekraft expand into premium small appliances with Black + Decker". The Economic Times. Retrieved 16 June 2020.
  12. "Ex Puma head Rajiv Mehta joins StoveKraft as CEO - ET BrandEquity". ETBrandEquity.com.
  13. "Stove Kraft IPO to open next week, price band fixed at ₹384-385 a share". mint. 21 January 2021. Retrieved 16 March 2021.
  14. "Stove Kraft share lists at 21% premium to IPO issue price". www.businesstoday.in. Retrieved 16 March 2021.
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