Stanley Lifestyles IPO GMP indicates 44% premium: Here’s how to check allotment status

Following the three days of bidding, investors can now check their allotment status for the Stanley Lifestyles IPO. The status can be verified through BSE or the IPO registrar, Kfin Technologies' website.

The ₹537 crore initial public offering (IPO) of Stanley Lifestyles was available for subscription between June 21 and June 25 with a price band of ₹351-369. The issue saw overwhelming demand, being subscribed 97.16 times in the 3 days of bidding. Investors bid for 98.98 crore shares compared to the 1.01 crore shares on offer. The Qualified Institutional Buyer (QIB) portion was the most sought after, with bids 215.62 times the available shares, followed by the Non-Institutional Investor (NII) quota at 121.42 times, and the retail investor category at 19.08 times.

Here's how you can check the allotment status

On BSE

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Stanley Lifestyles in the dropbox
• Write the application number
• Add the PAN
• Click on 'I am not a Robot' and hit ‘Submit’

On Kfin Tech website

• Go to the web portal of Kfin Technologies
• Click on any of the five links
• Select the IPO name in dropbox
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• Enter the captcha code after the application number if you choose that option. Press "Submit."
• If you choose Demat Account, enter the captcha code and your account information. Click "Submit."
• Enter the captcha and PAN number to access the third option, PAN. Click “Submit.”

By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

The shares will be credited to the allottees' demat accounts on June 27. Investors not allotted shares will also have their refunds initiated on the same day.

The shares will be listed on BSE and NSE on June 28, 2024.

IPO details

Stanley Lifestyles' IPO includes a fresh issue of ₹200 crore and an offer-for-sale (OFS) of 91,33,454 equity shares by promoters and shareholders. In the OFS, promoters Sunil Suresh and Shubha Sunil will each sell up to 11,82,000 shares. Other selling shareholders include Oman India Joint Investment Fund II (55,44,454 shares), Kiran Bhanu Vuppalapati (10,00,000 shares), and Sridevi Venkata Vuppalapati (2,25,000 shares).

The funds from the new issue will be used to open additional stores and acquire new machinery and equipment. Between 2025 and 2027, Stanley plans to open 24 new stores in Delhi, Tamil Nadu, Telangana, and Maharashtra through its subsidiaries ABS Seating Pvt Ltd, Sana Lifestyles Ltd, Stanley Retail Ltd, Shrasta Décor Pvt Ltd, and Staras Seating Pvt Ltd.

The IPO allocates 50 percent of shares to QIBs, 15 percent to NIIs, and 35% to retail investors. The book-running lead managers are Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited, with Kfin Technologies Limited as the registrar.

Founded in 2007, Stanley Lifestyles Limited designs and manufactures super-premium, luxury and ultra-luxury furniture and sells it through its brand "Stanley". Stanley Lifestyles Limited's revenue increased by 42.94 percent and profit after tax (PAT) rose by 50.64 percent between the financial year ending with March 31, 2023, and March 31, 2022.

Stanley IPO GMP today

The GMP or grey market premium for the stock was ₹163, which indicated that the issue is likely to list at ₹532, a 44.17 percent premium to the issue price of ₹369.

The GMP was the same in the previous session but was higher at ₹167 on June 24, 2024, and ₹172 on June 23, 2024.