Stanley Lifestyles Surges 38% on Market Debut

Luxury furniture brand Stanley Lifestyles Ltd saw its shares list at a premium of over 38% on Friday, with an initial public offering (IPO) subscribed nearly 97 times. The company plans to use the funds raised for opening new stores, renovating existing ones, and purchasing machinery.

Shares of luxury furniture brand Stanley Lifestyles Ltd debuted with a substantial premium of over 38 percent on Friday, eclipsing the issue price of Rs 369.

Trading commenced at Rs 499 on the BSE, marking a significant gain of 35.23 percent. Subsequently, shares soared to Rs 510, a 38.21 percent increase.

On the NSE, the stock opened at Rs 494.95, up 34.13 percent.

The initial public offering (IPO) of Stanley Lifestyles Ltd was a massive success, garnering 96.98 times subscription on its final subscription day.

The Rs 537-crore offering comprised a fresh issue worth Rs 200 crore and an offer for sale of up to 91,33,454 equity shares. The IPO was priced between Rs 351 and Rs 369 per share.

The net proceeds of Rs 90.13 crore from the fresh issue will be allocated towards opening new stores, with Rs 39.99 crore earmarked for anchor stores and Rs 10.04 crore for store renovations.

An additional Rs 8.18 crore is set aside for capital expenditure to purchase new machinery and equipment for the firm and its subsidiary, Stanley OEM Sofas Ltd. Remaining funds will be directed towards general corporate purposes.

Bengaluru-based Stanley Lifestyles distinguishes itself as one of the few Indian companies operating across various price segments, including super-premium, luxury, and ultra-luxury, through multiple brands.

The company manages two manufacturing facilities in Bengaluru.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)