Investors subscribe Stanley Lifestyles IPO 5.22 times offer size on day 2

The initial public offer of luxury furniture brand Stanley Lifestyles received 5.22 times subscription on the second day of bidding on Monday.

The Rs 537 crore initial share sale got bids for 5,34,55,000 shares against 1,02,41,507 shares on offer, as per NSE data.

The portion for non-institutional investors fetched 8.85 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 6.10 times. The category for Qualified Institutional Buyers (QIBs) received 74 per cent subscription.

The Initial Public Offer (IPO) has a fresh issue of up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares.

The initial share sale will conclude on Tuesday and has a price range of Rs 351-369 per share.

The IPO of Stanley Lifestyles got subscribed 1.43 times on the first day of subscription on Friday.

Stanley Lifestyles on Thursday said it has raised a little over Rs 161 crore from anchor investors.

The net proceeds from the fresh issue to the tune of Rs 90