Skip to main content

Stanley Lifestyles IPO subscribed 97 times on last day

The IPO has a fresh issue of up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares

New Delhi: The initial public offering (IPO) of luxury furniture brand Stanley Lifestyles got subscribed 96.98 times on the last day of subscription on Tuesday.

The Rs 537-crore initial share sale received bids for 99,32,30,160 shares against 1,02,41,507 shares on offer, according to NSE data.

The portion for qualified institutional buyers (QIBs) fetched 222.10 times subscription while the quota for non-institutional investors got subscribed 119.52 times. The quota for retail individual investors (RIIs) attracted 19.21-times subscription.

The IPO has a fresh issue of up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares.

The initial share-sale has a price range of Rs 351-369 per share.

The IPO of Stanley Lifestyles got subscribed 1.43 times on the first day of subscription on Friday.

Stanley Lifestyles on Thursday said it raised a little over Rs 161 crore from anchor investors.

The net proceeds from the fresh issue to the tune of Rs 90.13 crore will be used by the company towards expenditure for opening new stores, Rs 39.99 crore expenditure for opening the anchor stores and Rs 10.04 crore expenditure for renovation of existing stores.

Funds to the tune of Rs 8.18 crore for funding the capital expenditure requirements for the purchase of new machinery and equipment by the company and its material subsidiary, SOSL (Stanley OEM Sofas Ltd) and for general corporate purposes.

Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets are the book-running lead managers to the offer.

Bengaluru-based Stanley Lifestyles is among the few Indian companies operating in various price categories, including super-premium, luxury, and ultra-luxury, through its multiple brands.

The company operates two manufacturing facilities in Bengaluru.

The equity shares of the company will be listed on the BSE and the NSE.

The post Stanley Lifestyles IPO subscribed 97 times on last day appeared first on India Retailing.



from India Retailing https://ift.tt/3mea76F
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp lea
67 comments
Read more

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been  given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxiety
Post a Comment
Read more

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio
Post a Comment
Read more