Stanley Lifestyles Limited IPO price band is ₹351-₹369. Stanley Lifestyle Limited manufactures luxury furniture. The company intends to raise Rs 537.02 crore through the issue.
New Delhi. The IPO of Stanley Lifestyle Limited, a super-premium, luxury and ultra-luxury furniture maker, will open today, June 21. The shares of this IPO can be bid till June 25. In this issue of Rs 537.02 crore, 5,420,054 new shares of Rs 200 crore will be issued. At the same time, existing investors of the company will sell 9,133,454 shares worth ₹ 337.02 crore through an offer for sale (OFS). The company’s shares will be listed on NSE and BSE on June 28. In the gray market, unlisted shares of the Stanley Lifestyles IPO are trading at a premium of 41 percent.
Stanley Lifestyles Limited has set a price band of ₹351-₹369 for the issue. Retail investors can bid for a minimum of one lot i.e. 40 shares. Thus, if an investor applies for 1 lot as per the IPO’s upper price band of ₹ 369, he has to invest ₹ 14,760. A retail investor can apply for a maximum of 13 lots ie 520 shares. For this he has to invest Rs 191,880.
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35 percent is reserved for retail investors.
50 per cent of the Stanley Lifestyle IPO has been earmarked for Qualified Institutional Buyers (QIB). In addition, about 35 percent is reserved for retail investors and 15 percent for non-institutional investors (NII).
The gray market is showing signs of profitability.
Unlisted shares of Stanley Lifestyles IPO are getting good response in gray market. Stanley Lifestyles IPO shares today are trading at a premium of Rs 150, or 41 percent, according to gray market monitoring website IPOwatch. In such a scenario, it may be listed at ₹519, as per the upper price band of ₹369. However, it is not necessary that if the IPO shares are trading at a premium in the gray market, their listing in the stock market will also be at a premium. The gray market is only speculative, the listing price of the shares may differ from the gray market price.
Company profile
Established in the year 2007, Stanley Lifestyles designs, manufactures and sells a wide range of products such as luxury sofas, seating furniture, coffee tables, dining tables, wardrobes, utility cabinets, shoe racks, bedside tables, etc. The company also designs and manufactures shoes and seat covers for car brands. The company has 24 stores across 21 cities in India. Revenue for the period ended December 31, 2023 was Rs 322.29 crore and profit after tax was Rs 18.70 crore.
(Disclaimer: The information given here is for informational purposes only. As investment in IPO is subject to market risk, please consult a certified investment advisor before investing. News 18 Hindi Ap shall not be liable for any damages incurred.)
Tags: business news, IPO, Money making tips, Stock market
First Publication: June 21, 2024, 07:30 IST
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