Stanley Lifestyles IPO: Issue Subscribed 1.43 times on Day 1; Check Allotment Date and GMP

Stanley Lifestyles IPO: The equity shares of the company will be listed on BSE and NSE on 28th June.
Stanley Lifestyles IPO: Issue Subscribed 1.43 times on Day 1; Check Allotment and GMP

Stanley Lifestyles IPO: Issue Subscribed 1.43 times on Day 1; Check Allotment and GMP. Image: Canva

Stanley Lifestyles IPO: The initial public offer of luxury furniture brand Stanley Lifestyles opened for subscription on Friday. The company operates two manufacturing facilities in Bengaluru. The company has raised a little over Rs 161 crore from anchor investors.

Stanley Lifestyles IPO Subscription Status

The issue got subscribed 1.43 times on the first day of subscription on Friday. The initial share sale received bids for 1,46,69,560 shares against 1,02,41,507 shares on offer, as per NSE data. The category for non-institutional investors fetched 2.01 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 1.80 times. The part meant for Qualified Institutional Buyers (QIBs) received 30 per cent subscription.

Stanley Lifestyles IPO Issue Date

The Rs 537 crore IPO will conclude on June 25.

Stanley Lifestyles IPO Listing

The equity shares of the company will be listed on BSE and NSE on 28th June.

Stanley Lifestyles IPO GMP

As per multiple websites, the shares of Stanley Lifestyles are commanding a GMP in the price range of Rs 160 in the unlisted market.

Stanley Lifestyles IPO Details

The Initial Public Offer (IPO) has a fresh issue of up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares. Price range for the offer is fixed at Rs 351-369 per share.

Stanley Lifestyles IPO Objective

The net proceeds from the fresh issue to the tune of Rs 90.13 crore will be used by the company towards expenditure for opening new stores, Rs 39.99 crore expenditure for opening the anchor stores and Rs 10.04 crore expenditure for renovation of existing stores. Funds to the tune of Rs 8.18 crore for funding the capital expenditure requirements for the purchase of new machinery and equipment by the company and its material subsidiary, SOSL (Stanley OEM Sofas Ltd) and for general corporate purposes.
(PTI Inputs)
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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