Stanley Lifestyles IPO booked nearly 10 times so far on Day 3. Check GMP and other details
IPO) of Luxury furniture maker Stanley Lifestyles was booked 9.64 times so far on the third day of the bidding process. The issue closes today.
The category reserved for NIIs was subscribed by a little over 22 times while the retail investors subscribed the issue by over 8 times. Meanwhile, the QIB portion of the issue was booked at just 1.6 times.
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 grey market, the company's shares are trading with a healthy premium of nearly 45%. 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 Subscribe for long-term rating to the IPO,» said Anand Rathi.
“There are no other listed companies with a business similar to this one. At the higher price band, SSL is
