Stanley Lifestyles IPO: A look at latest GMP and how to check allotment status
₹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.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.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
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