Stanley Lifestyles IPO Lists Strong: 34.13% Up on NSE, 35.23% on BSE

Strong Listing for Stanley Lifestyles IPO on NSE

Stanley Lifestyles had a robust listing on June 28, 2024, opening at ₹494.95 per share, which is a premium of 34.13% over the issue price of ₹369 per share. Here is the pre-open price discovery for the Mainboard Stanley Lifestyles IPO on the NSE as of 9.50 am.

PRE-OPEN ORDER COLLECTION SUMMARY

Data Source: NSE

The mainboard IPO of Stanley Lifestyles was a book-built IPO with a price band of ₹351 to ₹369 per share. The price was finalized at the upper end of the band at ₹369 per share after a strong subscription response of over 97X, with anchor allocation also happening at the upper band of ₹369 per share, a day ahead of the IPO opening. On June 28, 2024, the stock of Stanley Lifestyles listed on the NSE Mainboard segment at ₹494.95 per share, a premium of 34.13% over the IPO price of ₹369. For the day, the upper circuit price has been set at ₹593.90 and the lower circuit price at ₹396.00.

As of 10.25 am, the volumes were 123.74 lakh shares with a turnover (value) of ₹615.97 crore on NSE. The stock has a face value of ₹2 per share, and the applicable margin rate is 25.00%. The opening market cap of the stock stands at ₹2,836 crore. The stock will be traded in the EQ series with delivery and intraday trades permitted, but as part of the rolling segment cycle of the NSE. Trading shall be in the Normal Market segment – Compulsory Demat (Rolling Settlement) for all investors. At 10.25 am, it is trading higher at ₹497.70 per share, which is 0.56% above the listing price. The stock of Stanley Lifestyles trades with the following symbols: NSE Code (STANLEY), BSE Code (544202), and the shares have been credited to the demat accounts of allottees under the designated ISIN (INE01A001028).

How Stanley Lifestyles IPO Listed on BSE?

Here is a quick price discovery summary of Stanley Lifestyles on the Bombay Stock Exchange (BSE) on the day of listing, June 28, 2024. The pre-IPO period ends at 9.50 am and actual trading on the IPO stock starts at 10.00 am on listing day.

PRE-OPEN ORDER COLLECTION SUMMARY

Data Source: BSE

The mainboard IPO of Stanley Lifestyles was a book-built IPO priced at the upper end of the band at ₹369 per share. On June 28, 2024, the stock of Stanley Lifestyles listed on the BSE mainboard segment at ₹499.00 per share, a premium of 35.23% over the IPO price of ₹369. For the day, the upper circuit price has been set at ₹598.75 and the lower circuit price at ₹399.20. As of 10.26 am, the volumes were 10.76 lakh shares with a turnover (value) of ₹53.64 crore on BSE. The stock has a face value of ₹2 per share. The stock will be traded in the regular EQ segment of the BSE in a T+1 settlement cycle. The market cap of the stock stands at ₹2,836 crore. At 10.08 am, it is trading 0.40% lower at ₹497.00 per share.

About Stanley Lifestyles IPO

The IPO of Stanley Lifestyles will be a combination of a fresh issue of shares and an offer for sale (OFS) component. The fresh issue brings in new funds into the company, but is also EPS and equity dilutive. The OFS is just a transfer of ownership; hence neither EPS nor equity dilutive. The fresh issue portion of the IPO of Stanley Lifestyles comprises the issue of 54,20,054 shares (54.20 lakh shares approximately), which at the upper price band of ₹369 per share will translate into a fresh issue size of ₹200.00 crore. The offer for sale (OFS) portion of the IPO of Stanley Lifestyles comprises the sale/offer of 91,33,454 shares (91.33 lakh shares approximately), which at the upper price band of ₹369 per share will translate into an OFS size of ₹337.02 crore.

The 91.33 lakh shares in the OFS are being offered by a mix of promoter shareholders and investor shareholders. The selling promoter shareholders include; Sunil Suresh (11.82 lakh shares) and Shubha Sunil (11.82 lakh shares). The selling investor shareholders include; Oman India Joint Investment Fund (55.44 lakh shares), Kiran Vuppalapati (10 lakh shares), and Sridevi Vuppalapati (2.25 lakh shares). Therefore, the total IPO of Stanley Lifestyles will comprise a fresh issue and an OFS of 1,45,53,508 shares (145.54 lakh shares approximately) which, at the upper end of the price band of ₹369 per share, aggregates to a total issue size of ₹537.02 crore. However, it must be noted that the final tally of shares could change marginally from the original announcement. That is reflected in the share allocation break-up for anchor allocation. The IPO of Stanley Lifestyles will be listed on the NSE and the BSE on the IPO mainboard.

The fresh funds will be used for opening Stanley Level Next and Stanley Boutique stores, apart from anchor stores. Part of the funds will also go towards capex for its center in Bengaluru. The promoters of the company are Sunil Suresh and Shubha Sunil. The promoters currently have a 67.36% stake in the company, which will get diluted post-IPO to 56.81%. The IPO will be lead-managed by Axis Capital, ICICI Securities, JM Financial, and SBI Capital Markets, while KFIN Technologies Ltd was the IPO registrar.