Makers of beautiful, Stanley Lifestyles makes a beautiful debut....
Makers of beautiful, Stanley Lifestyles makes a beautiful debut on the exchange; lists at 35% premium
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Friday, June 28, 2024: Shares of Stanley Lifestyles Limited makes a beautiful debut on the exchange, lists at 35% premium.
The scrip listed Rs 499 per share on BSE, a premium of 35.23% and Rs 494.95 per share on NSE, a premium of 34.13%. The company's share price closed at Rs 474 per share on the BSE, a 28.46% premium, and at Rs 479 per share on the NSE, a 29.81% premium.
As per NSE, the total quantity traded stood at 216.11 lakh shares, on BSE the total Quantity stood at 55.85 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1,330.47 crore.
Sunil Suresh, Managing Director, Stanley Lifestyles Ltd said "We are thrilled to announce the listing of our shares. This milestone is a testament to the hard work and dedication of our entire team and the unwavering support of our stakeholders. As we embark on this new chapter, we remain committed to delivering value to our shareholders and driving sustainable growth. We look forward to the opportunities that lie ahead and are excited to continue our journey with the support of our investors and partners."
The Market Capitalization of the Company at today’s closing price stood at Rs. 2,702.62 Crore as per BSE and Rs. 2,731.12 Crore as per NSE.
The Initial Public Offering of Stanley Lifestyles Limited was subscribed 95.75 times. Qualified Institutional Buyer Portion was subscribed 222.10 times, Non-Institutional Investors Portion was subscribed 117.96 times, whereas Retail Portion was subscribed 17.46 times.
Bengaluru-based, Stanley Lifestyles Ltd is country’s largest super-premium and luxury furniture brand. The Company’s product portfolio includes sofas, cabinetry and furniture for living rooms, dining rooms, family rooms, kitchens, bedrooms (including bedding products), and home offices, offering complete home solutions including installations. Over the years, it has transformed into a comprehensive provider of home solutions and are the only super-premium and luxury Indian brand that provide a wide range of home solutions offerings, such as sofas, arm chairs, kitchen cabinets, beds, mattresses and pillows, amongst others.
Stanley is the fourth largest player in the home furniture segment in India in terms of revenue in Fiscal 2023. It is among the first few Indian companies to venture into the super-premium and luxury furniture segment and one of the few Indian company present across various price points, i.e., super-premium, luxury and ultra-luxury segment, through its various brands.
Over the years, the brand has evolved from a sales-focused model to a design-led operation and has become a comprehensive provider of home solutions. It stands as the only super-premium and luxury Indian brand offering a wide range of home solution offerings, including sofas, armchairs, kitchen cabinets, beds, mattresses, and pillows, among others.
Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited are the book running lead managers and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
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