Stanley Lifestyles' IPO Surges to Success: A 30% Premium Rise

Stanley Lifestyles Ltd, a luxury furniture brand, experienced a significant surge in its stock price, closing with nearly a 30% premium on its IPO issue price. The company’s market valuation reached Rs 2,702.62 crore, with substantial trades on both BSE and NSE. Proceeds from the IPO will fund new stores, store renovations, and capital expenditures.

Luxury furniture brand Stanley Lifestyles Ltd saw a remarkable rise in its stock market debut, ending Friday with a premium of nearly 30% against the issue price of Rs 369.

The stock, which opened at Rs 499 on the BSE, reflected a 35.23% jump and peaked at Rs 510 during the day, before closing at Rs 474, marking a 28.45% gain. On the NSE, the shares listed at Rs 494.95, up 34.13%, and ended the day at Rs 479, a 29.81% rise.

The company's market valuation soared to Rs 2,702.62 crore, with substantial trading volumes of 55.85 lakh shares on the BSE and 216.11 lakh shares on the NSE. The IPO was oversubscribed 96.98 times, with the Rs 537-crore sale including a fresh issue of Rs 200 crore and an offer for sale of over 91 lakh equity shares. Funds raised will be used for new store openings, renovations, and acquiring new machinery and equipment.

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