New Delhi: Stanley Lifestyles, the luxury furniture brand, saw robust investor interest as its initial public offering (IPO) was oversubscribed 5.22 times on the second day of bidding, which fell on Monday. According to NSE data, the Rs 537 crore IPO received bids for 5,34,55,000 shares against the 1,02,41,507 shares offered.
Non-institutional investors subscribed 8.85 times their allotted portion, while Retail Individual Investors (RIIs) showed strong interest with a subscription of 6.10 times. Qualified Institutional Buyers (QIBs) subscribed to 74% of their quota.
Stanley Lifestyles IPO GMP
In the unlisted market, the Stanley Lifestyles IPO commands a grey market premium (GMP) of Rs 170, in contrast to its upper issue price of Rs 369. The grey market premium (GMP) represents the additional amount paid for initial public offering (IPO) shares before they are officially listed on the stock exchanges. This indicates a listing price of Rs 539 apiece for the IPO.
Stanley Lifestyles IPO subscription status
Earlier, Stanley Lifestyles reported a subscription rate of 1.43 times on the first day of its IPO last Friday. The company also announced raising over Rs 161 crore from anchor investors on Thursday.
Proceeds from the fresh issue, totaling Rs 90.13 crore, will be directed towards new store openings, with Rs 39.99 crore allocated for anchor stores and Rs 10.04 crore for renovating existing stores. Additionally, Rs 8.18 crore will fund capital expenditures for new machinery and equipment, including for its subsidiary SOSL (Stanley OEM Sofas Ltd), and for general corporate purposes.
Stanley Lifestyles IPO allotment date
The Stanley Lifestyles IPO allotment date is scheduled for June 26, 2024. The shares are priced in the range of ₹351 to ₹369 each, with a face value of ₹2 per share. Investors can bid for lots of 40 shares or multiples thereof. The IPO, featuring a fresh issue of up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares, is scheduled to conclude on Tuesday. Axis Capital, ICICI Securities, JM Financial, and SBI Capital Markets are acting as the book-running lead managers for the offer.
Based in Bengaluru, Stanley Lifestyles stands out among Indian companies for its operations across various price segments, from super-premium to ultra-luxury, under multiple brands. The company operates two manufacturing facilities in Bengaluru and expects its equity shares to be listed on both the BSE and NSE.
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Stanley Lifestyles IPO GMP: The featuring a fresh issue of up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares, is scheduled to conclude on Tuesday. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
