Stanley Lifestyles IPO, which opened on June 21, 2024, has received a strong response from investors and NIIs by the end of the second day.
Overall, the IPO was subscribed 4.5 times by the end of the second day. Non-Institutional Investors (NIIs) subscribed 7.01 times of allotted quota and retail investors were subscribed over 5.51 times. Qualified Institutional Buyers (QIB) portion was subscribed at 0.69 time.
Grey Market Premium (GMP): The shares were trading at a premium of ₹172 in the grey market, indicating strong demand.
Key information from the Red Herring Prospectus (RHP): The company plans to use the proceeds to open new stores, renovate existing ones, and invest in equipment. The Stanley Lifestyles is the fourth-largest revenue-generating company in India’s home furnishings market.
Stanley Lifestyle IPO Details:
The Stanley Lifestyles IPO is a book-built issue of ₹537.02 crores comprising of a fresh issue of ₹200 crore and an offer for sale (OFS) of ₹337.02 crores. It is a main-board IPO of 14,553,508 equity shares of the face value of ₹2.
Key Details:
- IPO Size: ₹537.02 crores
- Fresh Issue: ₹200 crores
- Offer for Sale (OFS): ₹337.02 crores
- Price Range: ₹351 to ₹369 per share
- Lot Size: 40 shares
- Minimum Investment: ₹14,760
- Opening Date: June 21, 2024
- Closing Date: June 25, 2024
- Basis of Allotment: June 26, 2024
- Refunds: June 27, 2024
- Credit to Demat Account: June 27, 2024
- Listing Date: June 28, 2024
- Listing Exchange: BSE, NSE
The IPO has received a good response, especially from retail and NII investors. The final subscription figures will be available after the IPO closes on June 25th.
Analysts have expressed positive views about the IPO, citing Stanley Lifestyles’ strong brand presence and growth potential in the luxury furniture market. However, potential investors are advised to carefully evaluate the company’s financials and risk factors before making an investment decision.