📷 Image Credits: Mint
Stanley Lifestyles IPO has garnered significant attention on its first day of subscription, with the offering being subscribed 1.44 times. The company, known for its super-premium and luxury furniture brand, has set a price band of ₹351 to ₹369 per equity share, attracting a diverse pool of investors. The IPO, which remains open for subscription until June 25, saw strong demand from retail and non-institutional investors, indicating a positive market sentiment towards the company’s prospects.
Leading brokerage firms, including Anand Rathi Research and Indsec Securities, have provided valuable insights into the IPO, highlighting the company’s strong position in India’s home furnishings sector and its robust growth potential. Anand Rathi Research emphasized the business improvement opportunities for Stanley Lifestyles, recommending a ‘SUBSCRIBE – long term’ rating. Meanwhile, Indsec Securities underlined the financial outlook of the IPO, suggesting a ‘Subscribe’ rating based on strong revenue growth projections and promising expansion plans.
The IPO comprises a fresh issue of ₹200 crore and an offer-for-sale of 9,133,454 equity shares by promoters and shareholders. The company intends to utilize the proceeds for store expansion, renovation, and capital expenditure, with plans to open 24 new stores across key regions in India over the next few years. The book-running lead managers for the IPO include Axis Capital Limited, ICICI Securities Limited, Jm Financial Limited, and SBI Capital Markets Limited.
Grey Market Premium (GMP) for Stanley Lifestyles IPO is currently at +162, indicating significant investor interest with shares trading at a premium of ₹162. This positive momentum in the grey market suggests a strong debut for the IPO, with an expected listing price of ₹531, representing a 43.9% increase from the issue price of ₹369.
It is important to note that the views and recommendations provided by experts are individual opinions and not endorsed by the Mint. Investors are advised to consult certified professionals before making any investment decisions.
