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Stanley Lifestyles Limited designs and manufacturers super-premium, luxury and ultra-luxury furniture.
Today is the second day of subscription of the Initial Public Offer i.e. IPO of Stanley Lifestyles Limited. This issue was subscribed a total of 1.59 times on the first day. This IPO was subscribed 2.12 times in the retail category, 0.29 times in the Qualified Institutional Buyers (QIB) and 2.12 times in the Non-Institutional Investors (NII) category.
Retail investors can bid for this IPO till June 25. The company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on June 28. Stanley Lifestyles Limited wants to raise a total of ₹537.02 crore through this issue. For this, the company is issuing 5,420,054 new shares worth ₹200 crore. At the same time, the existing investors of the company are selling 9,133,454 shares worth ₹ 337.02 crore through Offer for Sale i.e. OFS.
Retail investors can bid for maximum 520 shares
Stanley Lifestyles Limited has fixed the price band of this issue at ₹351-₹369. Retail investors can bid for a minimum of one lot i.e. 40 shares. If you apply for 1 lot as per the upper price band of IPO at ₹ 369, then you will have to invest ₹ 14,760.
Whereas, retail investors can apply for maximum 13 lots i.e. 520 shares. For this, investors will have to invest ₹ 191,880 as per the upper price band.
Stanley Lifestyles premium in gray market 40.65%
Before listing, the company’s shares have reached a premium of 46.61% i.e. ₹ 172 per share in the gray market. In such a situation, according to the upper price band of ₹ 369, its listing can be at ₹ 541. Although this can only be a guess, the listing price of a share is quite different from the gray market price.
35% of the issue reserved for retail investors
50% of the company’s issue has been reserved for Qualified Institutional Buyers (QIB). Apart from this, about 35% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII).
The company designs and manufactures luxury furniture.
Stanley Lifestyles Limited designs and manufacturers super-premium, luxury and ultra-luxury furniture. The company was established in 2007. Stanley Lifestyles Limited manufactures a variety of products in different categories. This includes sofas, seating furniture, coffee tables, dining tables, wardrobes, utility cupboards, shoe racks, bedside tables and other products.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
