Stanley Lifestyles Shares Skyrocket by Nearly 30% on Market Debut

Stanley Lifestyles Ltd’s shares closed on Friday with a premium of nearly 30 per cent from the issue price of Rs 369. The stock debuted at Rs 499 on the BSE, reflecting a 35.23 per cent increase. It reached a high of Rs 510 during the day and ended at Rs 474, marking a 28.45 per cent increase. On the NSE, it opened at Rs 494.95, up 34.13 per cent, and closed at Rs 479, a jump of 29.81 per cent. The company’s market valuation was Rs 2,702.62 crore. In terms of volume, 55.85 lakh shares were traded on the BSE and 216.11 lakh shares on the NSE. The IPO of Stanley Lifestyles was subscribed 96.98 times on the last day, generating Rs 537 crore. The company’s plan for the net proceeds includes using Rs 90.13 crore for opening new stores, Rs 39.99 crore for opening anchor stores, Rs 10.04 crore for renovating existing stores, and Rs 8.18 crore for funding the purchase of new machinery and equipment and general corporate purposes.