Stanley Lifestyle IPO: The initial public offering (IPO) of popular furniture brand Stanley Lifestyle has closed. The IPO was oversubscribed 96.25 times on the last day on Tuesday. According to NSE data Rs. 537 crore IPO received bids for 98,56,97,520 shares against 1,02,41,507 shares.
The share of Qualified Institutional Buyers (QIBs) was subscribed 222.10 times. The non-institutional investor category was subscribed 118.65 times. The Retail Individual Investors (RII) category was subscribed 18.13 times. Under IPO Rs. New shares up to 200 crores have been issued. This also includes an offer for sale (OFS) of 91,33,454 equity shares. Stanley Lifestyle raised Rs. 161 crore has been collected.
Gray Market Premium Details
The price band for the IPO per share is Rs. 351-369 are. Talking about the gray market premium, it is ₹177. Accordingly, the share is expected to list at ₹546. If we look at the gray market pattern, premiums have increased steadily. The current premium represents 48%. The IPO is expected to be listed on June 28, 2024.
ICICI Securities, Axis Capital, JM Financial and SBI Capital Markets Stanley are the book running lead managers for the IPO, while Kfin Technologies is the registrar of the issue.
About the company
Stanley Lifestyle is a luxury furniture brand based in Bengaluru. It is one of the few Indian companies to operate in multiple price segments including super-premium, luxury and ultra-luxury through its multiple brands.