The initial public offering of the Bengaluru-based Stanley Lifestyles was subscribed 96.98 times, thanks mainly to qualified institutional buyers and non-institutional investors (HNIs). Against the offer size of 1.02 crore shares (net off anchor portion), the IPO received bids for 99.32 crore shares. Stanley Lifestyle is a manufacturer and retailer of furniture specialising in the super-premium segment under the “Stanley” brand name. Anchor investorsThe portion reserved for HNIs was subscribed over 119.52 times, while that of retail investors by 19.21 times. However, QIB portion, which remained undersubscribed on the first two days, witnessed heavy bidding on the last day, taking the subscription to 222.10 times.

Source: The Hindu June 26, 2024 02:36 UTC