Stanley Lifestyles Set for Strong Dalal Street Debut with High Grey Market Premium
Stanley Lifestyles Limited is all set to make its debut on Dalal Street this Friday, and investors are eagerly anticipating a strong listing pop based on the company’s impressive grey market premium (GMP). The GMP for Stanley Lifestyles has remained firm in the unofficial markets, indicating a positive reception from investors.
Leading up to its listing, shares of Stanley Lifestyles were commanding a grey market premium of Rs170-175 per share, suggesting a potential listing pop of around 45-48 percent for investors. The premium in the unofficial market remained strong at 165-170 per share when the bidding for the issue closed.
According to Akriti Mehrotra, Research Analyst at StoxBox, Stanley Lifestyles is expected to debut with a premium of around 45 percent to its issue price. Mehrotra highlighted the company’s strong financial performance and promising market potential as key factors driving investor interest.
Stanley Lifestyles had offered its shares in the fixed price band of Rs 351-369 per share with a lot size of 40 shares. The IPO, which ran from June 21 to June 25, raised over Rs 537 crore through a combination of fresh share sales and an offer for sale.
The overwhelming response to the IPO was evident in the robust bidding, with the overall subscription reaching 96.98 times. The quota for qualified institutional bidders (QIBs) was oversubscribed by 222.10 times, while non-institutional investors bid 119.52 times. Retail investors also showed strong interest, with a subscription rate of 19.21 times.
Founded in 2007, Stanley Lifestyles specializes in designing and manufacturing premium furniture under its brand ‘Stanley’. The company’s product range includes a variety of categories such as seating, wooden cased products, kitchen and cabinet items, beds and mattresses, and automotive products.
Brokerage firms have expressed positive sentiments towards the IPO, advising investors to subscribe to it. ICICI Securities, Axis Capital, JM Financial, and SBI Capital Markets are the book running lead managers for the IPO, with Kfin Technologies serving as the registrar.
As Stanley Lifestyles gears up for its market debut, investors are advised to stay informed and consult with a qualified financial advisor before making any investment decisions. Business Today provides stock market news for informational purposes only, and readers are encouraged to seek professional guidance when navigating the investment landscape.
