Stanley Lifestyles Limited’s IPO Opens with Price Band Set at ₹351 to ₹369 per Share
Bengaluru-based Stanley Lifestyles Ltd, India's largest super-premium and luxury furniture brand, has launched its Initial Public Offering (IPO) today.
Mumbai: Bengaluru-based Stanley Lifestyles Ltd, India’s largest super-premium and luxury furniture brand, has launched its Initial Public Offering (IPO) today.
The price band for the IPO is set between ₹351 and ₹369 per equity share of face value ₹2 each. The subscription window for the IPO will remain open until Tuesday, June 25, 2024.
Investors can bid for a minimum of 40 equity shares and in multiples of 40 equity shares thereafter.
The IPO includes a fresh issue of up to ₹200 crore and an offer for sale (OFS) of up to 9.13 million shares by promoter and investor selling shareholders.
As of December 31, 2023, Stanley Lifestyles Ltd offers customers a wide range of products across multiple catalogues, designs, configurations, and SKUs, with options in 10 different types and over 300 colours of leathers and fabrics.
In Fiscal 2022, the company held the fourth position in revenue in the Indian home furniture segment. Stanley is a pioneer among Indian companies in the super-premium and luxury furniture market, operating across various price categories, including super-premium, luxury, and ultra-luxury, through its multiple brands.
Over the years, Stanley has transitioned from a sales-focused model to a design-led operation, establishing itself as a comprehensive home solutions provider. The brand offers a wide range of home solutions, including sofas, armchairs, kitchen cabinets, beds, mattresses, and pillows.
The company operates two manufacturing facilities in Electronic City and Bommasandra Jigani Link Road, Bengaluru, Karnataka, leveraging its in-house manufacturing expertise to distinguish itself from both Indian and foreign competitors.
As of December 31, 2023, Stanley operated 38 company-owned and company-operated (COCO) stores in major metro cities such as Bengaluru, Chennai, New Delhi, Mumbai, and Hyderabad. Additionally, it has 21 franchisee-owned and franchisee-operated (FOFO) stores in 11 cities across nine states and union territories in India.
The book running lead managers for the IPO are Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited. KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on both BSE and NSE.
The offer is being made through the Book Building Process, with not more than 50% of the offer available for allocation to Qualified Institutional Buyers, not less than 15% for Non-Institutional Bidders, and not less than 35% for Retail Individual Bidders.
