The initial public offering (IPO) of leading furniture brand Stanley Lifestyles received 96.25 times subscription on the last day on Tuesday. According to NSE data, bids were received for 98,56,97,520 shares against 1,02,41,507 shares in the Rs 537 crore IPO. The portion of qualified institutional buyers (QIB) received 222.10 times subscription. The category of non-institutional investors received 118.65 times subscription. The category of retail individual investors (RIIs) received 18.13 times subscription. In the gray market on Tuesday, the company’s stock was seen trading at a premium of Rs 177 against the issue price of Rs 369. In this way, this stock can be listed at Rs 546 with a premium of 47.97 per cent.
Rs 161 crore raised from anchor investors
Under the IPO, new shares worth up to Rs 200 crore have been issued. This also includes an offer for sale (OFS) of 91,33,454 equity shares. The price band for the IPO is Rs 351-369 per share. Stanley Lifestyle has raised Rs 161 crore from anchor investors.
Allied Blenders IPO subscribed 51%
Officers Choice whisky maker Allied Blenders & Distillers Ltd. received 51 percent subscription on the first day of its initial public offering (IPO) on Tuesday. According to NSE data, bids were received for 2,01,69,680 shares as against 3,93,71,669 shares in the initial share sale of Rs 1,500 crore. The non-institutional investors category received 87 percent subscription, while the retail individual investor (RII) segment received 63 percent subscription. The qualified institutional buyers (QIB) category received two percent subscription. The IPO consists of fresh shares worth Rs 1,000 crore and a sale offer of Rs 500 crore. The company has fixed the price band for this at Rs 267-281 per share. The IPO will close on June 27.
Sensex crossed the historic level of 78,000, Nifty gained a massive 183 points
Since the formation of the NDA government at the center, the trend of growth in the stock market is not stopping. The market is gaining momentum again after a slight slowdown of a day or two. Today the Indian market has achieved a new milestone. For the first time, the Sensex closed above 78 thousand. Bank Nifty also reached a record high.
Today, i.e on June 25, the BSE Sensex jumped 712 points to close at 78,053 points. Similarly, the NSE Nifty rose 183.45 points to reach 23,721.30 points. Market experts say that the tremendous growth in the market was due to banking stocks. There has been a good growth in the stocks of HDFC Bank, ICICI Bank and Axis Bank. There was a rise in the shares of other banks including SBI. On the basis of this, the market was successful in making a new high today.