Shares of Stanley Lifestyles are set to make their Dalal Street debut on Friday and the company is set to deliver a strong listing pop to the investors, if one goes by the grey market premium (GMP) of the company. The GMP for Stanley Lifestyles has remained firm in the unofficial markets.
Ahead of its listing, shares of Stanley Lifestyles were commanding a grey market premium (GMP) of Rs170-175 apiece, suggesting a listing pop of around 45-48 per cent for the investors. The premium in the unofficial market stood at 165-170 per share, when the bidding for the issue closed.
Stanley Lifestyles Limited is set to make a strong market debut on Friday after receiving an overwhelming response during its subscription phase. The company is anticipated to list with a premium of around 45 per cent to its issue price, said Akriti Mehrotra, Research Analyst, StoxBox.
"Given Stanley's strong financial performance and promising market potential, investors who have been allotted shares are advised to consider holding onto their investment. The positive outlook is supported by the company's strategic initiatives and its ability to capitalize on growing consumer demand for quality and stylish home furnishings," she said.
Stanley Lifestyles had offered its shares in the fixed price band of Rs 351-369 apiece with a lot size of 40 shares. The IPO of the Bengaluru-based premium furniture maker was open between June 21 and June 25. It raised a little more than Rs 537 crore via its primary offering, which included a fresh share sale of Rs 200 crore and an offer for sale of 91,33,454 shares.
The issue saw robust bidding, especially on the third and last day, which drove the overall subscription to 96.98 times. The quota for qualified institutional bidders (QIBs) was booked 222.10 times, while the quota for non-institutional investors was subscribed a whopping 119.52 times. The portion reserved for retail investors saw bidding for 19.21 times.
Stanley Lifestyles, founded in 2007, designs and manufactures super-premium, luxury and ultra-luxury furniture and sells it through its brand 'Stanley'. Its product range includes categories like seating; wooden cased products; kitchen and cabinet; beds and mattresses; and automotive products.
Brokerage firms are mostly positive on the issue suggesting investors to subscribe to it. ICICI Securities, Axis Capital, JM Financial and SBI Capital Markets are the book running lead managers of the Stanley IPO, while Kfin Technologies is the registrar for the issue. Shares of the company will be listed on both BSE and NSE.
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