Stanley Lifestyles IPO booked 3.2 times so far on Day 2. Check GMP and other details
initial public offer (IPO) of luxury furniture maker Stanley Lifestyles was booked 3.2 times so far on the second day of the bidding process. The issue closes tomorrow.
The categories reserved for NII and retail investors were subscribed over 4 times, respectively. The QIB portion of the issue was booked at just 30%.
The net proceeds from the fresh issue will be used for expenditure for opening the new stores, anchor stores, and renovating existing stores.
About 50% of the public offer is reserved for qualified institutional buyers, 35% for retail investors, and remaining 15% for non-institutional investors.
Stanley Lifestyles GMP
In the unlisted market, the company's shares are trading with a healthy premium of Rs 170. This compares with an issue price of Rs 369 at the upper end.
Stanley Lifestyles IPO review
Analysts advised investors to subscribe to the issue as the company has scope for business improvement on the back of industry tailwinds, brand recall, and business scalability.
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«Stanley Lifestyles is a super-premium and luxury furniture brand in India and among the few home-grown super-premium and luxury consumer brands in India operating at scale in terms of manufacturing as well as retail operations. We recommend subscribing for long-term rating to the IPO,» said Anand Rathi.
Other details
Stanley Lifestyles is a super-premium and luxury furniture brand in India and among the few home-grown
