Stanley Lifestyles Limited IPO Subscribed 30.01x on Day 3

The luxury furniture maker Stanley Lifestyles Limited’s IPO was closed on June 25, 2024. The allotment for the IPO is expected to be finalised on June 26, 2024. Stanley Lifestyles IPO will be listed on BSE and NSE, with a tentative listing date of June 28, 2024.

Stanley Lifestyles IPO is a book-built issue of ₹537.02 crore. The issue is a combination of a fresh issue of 0.54 crore shares aggregating to ₹200.00 crore and an offer for sale of 0.91 crore shares aggregating to ₹337.02 crore.

Stanley Lifestyles IPO offers 1,45,53,507 shares: 29,10,702 (20.00%) to QIB, 21,83,026 (15.00%) to NII, 50,93,728 (35.00%) to RII, and 43,66,051 (30.00%) to Anchor investors. 1,27,343 RIIs will receive a minimum of 40 shares, and 1,299 (sNII) and 2,598 (bNII) will receive a minimum of 560 shares.

On the last day of subscription, June 25, 2024, the IPO was subscribed to 30.01x. QIBs subscribed 60.80x, NIIs 42.21x, and retail investors subscribed 8.01x.

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Stanley Lifestyles Limited IPO’s last GMP was ₹177. With a price band of ₹369, the estimated listing price of the Stanley Lifestyles IPO is ₹546 (cap price + today’s GMP). The expected percentage gain/loss per share is 47.97%.

About Stanley Lifestyles Limited

Founded in 2007, Stanley Lifestyles Limited designs and manufactures super-premium, luxury, and ultra-luxury furniture and sells it through its brand, Stanley. Over the years, it has developed brand recognition and customer loyalty through quality products, targeted marketing strategies, and advertisement campaigns such as “Beautiful Living,” “Design Glamour,” “Luxury Unlimited,” and “Bed of Dreams.”

As of December 31, 2023, the company operated 38 “company-owned and company-operated” or “COCO” stores, all located in the major metropolitan cities of Bengaluru, Chennai, New Delhi, Mumbai, and Hyderabad, and 24 “franchisee-owned and franchisee-operated” or “FOFO” stores in 21 cities across 11 Indian states and Union Territories.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.