Stanley Lifestyles IPO: The IPO of Bengaluru-based Stanley Lifestyles concludes today. The ₹537-crore offering from the high-end furniture manufacturer garnered strong interest from retail investors and high-net-worth individuals (HNIs) in the first two days of its opening.
The IPO, priced between ₹351 and ₹369 per share, was oversubscribed by 5.22 times. This IPO, having a face value of ₹2 per share, includes a fresh issue of ₹200 cr and an offer for sale of up to 91,33,454 shares by promoters and other selling shareholders. Against the total offer size of 1.02 cr shares (excluding the anchor portion), the IPO received bids for 5.35 crore shares.
Stanley Lifestyles specializes in manufacturing and retailing super-premium furniture under the brand name “Stanley.”
Investors have the option to bid for a minimum of 40 equity shares and in multiples of 40 shares thereafter.
The IPO is conducted through the book-building process, where up to 50% of the shares are allocated to qualified institutional buyers (QIBs), up to 15% to non-institutional bidders, and at least 35% to retail investors.
The portion reserved for High Net-Worth Individuals (HNIs) was oversubscribed by more than 8.86 times, while the retail investors’ portion saw a subscription of 6.11 times. In contrast, the QIB portion remains undersubscribed at 0.74 times.
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As part of the IPO process, Stanley Lifestyles has raised ₹161.10 cr from anchor investors. The company allocated 43,66,051 shares at ₹369 per share to various domestic and international institutions, including Loomis and Sayles, Wells Capital, Templeton, Max Life, Birla Life, SBI Life Insurance, Bandhan MF, Motilal Oswal MF, Param Capital, ICICI Pru MF, HDFC MF, Nippon MF, Quant MF, SBI MF, SBI AF.
Stanley Lifestyles
The company’s equity shares are planned for listing on both the BSE and NSE.
The net proceeds from the fresh equity issue will be utilized as follows: ₹140.16 cr for investments in subsidiaries, ₹6.66 cr for capital expenditure on machinery and equipment, and the remainder for general corporate purposes.
According to documents submitted to SEBI, Stanley Lifestyles is noted as one of the few domestically established brands in India that operates on a large scale in both manufacturing and retailing within the super-premium and luxury consumer segments. The company markets its furniture products under the brand name “Stanley,” offering a diverse range of home solutions including sofas, armchairs, kitchen cabinets, beds, mattresses, and pillows.
The book-running lead managers for the initial Public Offering are JM Financial Limited, SBI Capital Markets Limited, Axis Capital Limited, and ICICI Securities Limited.
