Stanley Lifestyles share price makes a stellar debut, stock opens with 34% premium at ₹494.95 apiece on NSE

  • Stanley Lifestyles share price: Stanley Lifestyles IPO received overwhelming subscriptions, with the share price making a strong debut on NSE and BSE. Market experts predicted an opening price range of 540 to 550 per share, reflecting positive market sentiments.

Dhanya Nagasundaram
Published28 Jun 2024, 10:00 AM IST
Stanley Lifestyles share price lists on the bourses today.
Stanley Lifestyles share price lists on the bourses today. (https://www.lovestanley.com/)

Stanley Lifestyles share price made a stellar debut on the bourses today. On NSE, Stanley Lifestyles share price opened at 494.95 per share, 34.13% higher than the issue price of 369. On BSE, Stanley Lifestyles share price today opened at 499 apiece, up 35.23% than the issue price.

Market experts anticipated Stanley Lifestyles share price to open in the range of 540 to 550 apiece.

Also Read: Stanley Lifestyles IPO listing date today. GMP, experts see share listing price at robust premium

According to BSE data, 96.98 subscriptions have been received for the luxury furniture company Stanley Lifestyles' initial public offering (IPO) on Tuesday, June 25, the last day of subscriptions. While 119.52 subscriptions were obtained for the non-institutional investor quota, 222.10 subscriptions were made for the qualified institutional buyer (QIB) portion. There were 19.21 times as many subscriptions to the retail individual investor (RII) quota. The pricing band for the Stanley Lifestyles initial public offering (IPO), which launched on Friday, June 21, was set at 351-369.

Stanley Lifestyles, based in Bengaluru, is one of the few Indian businesses that uses its many brands to operate in a variety of pricing points, including super-premium, luxury, and ultra-luxury. In Bengaluru, the firm runs two production sites.

Also Read: Stanley Lifestyles IPO to list on the bourses tomorrow; here's what GMP, subscription status signal ahead of listing

Stanley IPO details

Stanley Lifestyles IPO, comprises a fresh issue of 200 crore, and an offer-for-sale (OFS) of 9,133,454 equity shares by the promoters and shareholders.

Sunil Suresh and Shubha Sunil, the promoter selling shareholders, would each sell up to 1,182,000 equity shares in the OFS. Oman India Joint Investment Fund II (5,544,454 equity shares), Sridevi Venkata Vuppalapati (225,000 equity shares), and Kiran Bhanu Vuppalapat (1,000,000 equity shares) are the other selling shareholders.

More stores will be opened and new machinery and equipment will be purchased using the money raised from the new issuance. Through its subsidiaries ABS Seating Pvt Ltd, Sana Lifestyles Ltd, Stanley Retail Ltd, Shrasta Décor Pvt Ltd, and Staras Seating Pvt Ltd, the business intends to open 24 new shops in Delhi, Tamil Nadu, Telangana, and Maharashtra between 2025 and 2027.

Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited are the book-running lead managers for the Stanley IPO. Kfin Technologies Limited is the registrar.

Also Read: Stanley Lifestyles IPO closes today: latest GMP, review, subscription status, key dates. Should you subscribe?

Stanley Lifestyles IPO GMP today

Stanley IPO GMP today is +173. This indicates Stanley Lifestyles share price were trading at a premium of 173 in the grey market, according to investorgain.com.

Taking into consideration the upper end of the IPO pricing band and the current premium on the grey market, Stanley Lifestyles' anticipated IPO listing price was proposed at 542 per share, which is 46.88% higher than the IPO price of 369.

The last sixteen sessions' worth of grey market activity suggests that the IPO GMP is rising and that a strong listing is expected. According to analyst estimates on investorgain.com, the greatest GMP is 173, and the lowest GMP is 0.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Stanley Lifestyles IPO Day 3: GMP, subscription status to review. Apply or not?

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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First Published:28 Jun 2024, 10:00 AM IST
Business NewsMarketsIPOStanley Lifestyles share price makes a stellar debut, stock opens with 34% premium at ₹494.95 apiece on NSE

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