Stanley Lifestyles share price makes a stellar debut, stock opens with 34% premium at ₹494.95 apiece on NSE

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₹494.95 per share, 34.13% higher than the issue price of ₹369. On BSE, Stanley Lifestyles share price today opened at ₹499 apiece, up 35.23% than the issue price.Market experts anticipated Stanley Lifestyles share price to open in the range of ₹540 to ₹550 apiece.According to BSE data, 96.98 subscriptions have been received for the luxury furniture company Stanley Lifestyles' initial public offering (IPO) on Tuesday, June 25, the last day of subscriptions.

While 119.52 subscriptions were obtained for the non-institutional investor quota, 222.10 subscriptions were made for the qualified institutional buyer (QIB) portion. There were 19.21 times as many subscriptions to the retail individual investor (RII) quota.

The pricing band for the Stanley Lifestyles initial public offering (IPO), which launched on Friday, June 21, was set at ₹351-369.Stanley Lifestyles, based in Bengaluru, is one of the few Indian businesses that uses its many brands to operate in a variety of pricing points, including super-premium, luxury, and ultra-luxury. In Bengaluru, the firm runs two production sites.Stanley Lifestyles IPO, comprises a fresh issue of ₹200 crore, and an offer-for-sale (OFS) of 9,133,454 equity shares by the promoters and shareholders.Sunil Suresh and Shubha Sunil, the promoter selling shareholders, would each sell up to 1,182,000 equity shares in the OFS.

Oman India Joint Investment Fund II (5,544,454 equity shares), Sridevi Venkata Vuppalapati (225,000 equity shares), and Kiran Bhanu Vuppalapat (1,000,000 equity shares) are the other selling shareholders.More stores will be opened and new machinery and equipment will be purchased using the money raised from the new issuance. Through its subsidiaries ABS Seating Pvt Ltd, Sana