Stanley Lifestyles makes strong market debut with 34% premium listing

Stanley Lifestyles debuted at a 34% premium on the NSE, listing at Rs 494.95 compared to its issue price of Rs 369.

The Stanley Lifestyles IPO aimed to raise Rs 537.02 crores. The offering included a fresh issue of 0.54 crore shares totaling Rs 200 crores, and an offer for sale of 0.91 crore shares amounting to Rs 337.02 crores.

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Bidding for the IPO started on June 21 and concluded on June 25. The allotment was finalized on June 26.

The IPO price band was set between Rs 351 and Rs 369 per share.

The IPO saw significant demand from retail and non-institutional investors, with a subscription rate of 96.98 times. Investors bid for 99.32 crore equity shares against the total offer size of 1.02 crore shares.

Axis Capital Ltd, ICICI Securities Ltd, JM Financial Ltd, and SBI Capital Markets Ltd were the book-running lead managers for the IPO. Kfin Technologies Ltd served as the registrar for the issue.

Founded in 2007, Stanley Lifestyles is a prominent luxury furniture brand in India. The company markets its products under the “Stanley” brand and is known for operating at scale in manufacturing and retail within the super-premium and luxury segments.