The initial public offering (IPO) of Stanley Lifestyle witnessed demand from retail and non-institutional investors on its first day of bidding, June 21. According to subscription data from exchanges, the IPO garnered a subscription of 1.44 times, with investors bidding for 1.47 crore equity shares against the total offer size of 1.02 crore equity shares.
Non-institutional investors subscribed nearly 2.01 times their allotted quota, while retail investors showed interest amounting to over 1.81 times the reserved portion. The portion allocated for qualified institutional buyers (QIBs) was subscribed 0.3 times.
Stanley Lifestyle's Rs 537-crore IPO remains open for subscription until June 25.
Also Read | Stanley Lifestyles IPO: Time to go shopping?
Prior to the IPO opening, the company successfully raised Rs 161.1 crore from 16 anchor investors on June 20. The allocation to anchor investors comprised 43.66 lakh equity shares priced at Rs 369 per share, which is the upper end of the price band.
Notable institutional investors in the anchor book included SBI Mutual Fund, Nippon Life India, HDFC Mutual Fund, and others. The IPO price band was set between Rs 351 and Rs 369 per share.
The IPO allocation reserved 50 percent for QIBs (including anchor investors), 35 percent for retail investors, and the remaining 15 percent for non-institutional investors. Investors can bid for a minimum of 40 equity shares and in multiples of 40 shares thereafter.
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