The share of Stanley Lifestyle Limited was listed on the Bombay Stock Exchange (BSE) at ₹ 499, up 35%. Whereas, it was listed on the National Stock Exchange (NSE) at ₹ 494.95, at a premium of 34.13%. The issue price of this Initial Public Offer i.e. IPO was ₹ 369. This IPO was open for retail investors from 21 June to 25 June. In three days, the issue was subscribed a total of 97.16 times. The issue was subscribed 19.08 times in the retail category, 215.62 times by Qualified Institutional Buyers (QIB) and 121.42 times in the Non-Institutional Investors (NII) category. The issue of Stanley Lifestyles was worth ₹ 537.02 crore. The issue of Stanley Lifestyles Limited was worth a total of ₹ 537.02 crore. For this, the company has issued 5,420,054 new shares worth ₹ 200 crore. At the same time, the existing investors of the company have sold 9,133,454 shares worth ₹ 337.02 through Offer for Sale i.e. OFS. Retail investors could bid for a maximum of 520 shares. Stanley Lifestyles Limited had fixed the price band of this issue as ₹ 351-₹ 369. Retail investors could bid for a minimum of one lot i.e. 40 shares. If you had applied for 1 lot as per the IPO’s upper price band of ₹ 369, you would have had to invest ₹ 14,760 for it. At the same time, retail investors could have applied for a maximum of 13 lots i.e. 520 shares. For this, investors would have had to invest ₹ 191,880 as per the upper price band. 35% of the issue was reserved for retail investors The company had reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% was reserved for retail investors and the remaining 15% was reserved for non-institutional investors (NII). The company designs and manufactures luxury furniture Stanley Lifestyles Limited designs and manufactures super-premium, luxury and ultra-luxury furniture. The company was founded in 2007. Stanley Lifestyles Limited manufactures a variety of products in different categories. This includes sofas, seating furniture, coffee tables, dining tables, wardrobes, utility cupboards, shoe racks, bedside tables and other products. What is an IPO? When a company issues its shares to the general public for the first time, it is called an Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
