India's Stanley Lifestyles jumps 32% in debut trade

Stanley Lifestyles

28/06/2024 07:57

** Shares of Stanley Lifestyles  STAY.NS  rise 31.6% in
market debut to 485.55 rupees 
    ** The luxury furniture co opened at 494.95 rupees, a 34%
premium to IPO price of 369 rupees 
    ** Co raised 2 bln rupees ($24 mln) in IPO via fresh issue
of shares and 18.3 bln rupees from offer for sale of shares -
prospectus
    ** STAY's IPO was subscribed 97x, per exchange data 
    ** Co to utilise IPO proceeds for investment to open new
stores and to purchase new machinery and equipment 
    ** This week, DEE Development Engineers  DEEV.NS , Akme
Fintrade  AKMF.NS  surged 66% and 11% in debut trade,
respectively  
    




($1 = 83.4600 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))