Stanley Lifestyles Limited’s Initial Public Offering to open on Friday, June 21, 2024, price band set at ₹351/- to ₹369/- per Equity Share

▴ Stanley Lifestyles Limited
The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

Chennai, June 14, 2024: Bengaluru-based, Stanley Lifestyles Ltd, the country’s largest super-premium and luxury furniture brand, has fixed the price band of ₹351/- to ₹369/- per Equity Share of face value ₹2/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, June 21, 2024, for subscription and close on Tuesday, June 25, 2024. Investors can bid for a minimum of 40 Equity Shares and in multiples of 40 Equity Shares thereafter.

The IPO consists of fresh issue of up to Rs 200 crore and an offer for sale (OFS) of up to 9.13 million by Promoter and Investor Selling Shareholders.

 

As of December 31, 2023, company has offered our customers an opportunity to select products across multiple catalogues, designs, configurations and SKUs with options offered in 10 different types and over 300 colours of leathers and fabrics.

 

Stanley holds the fourth position in terms of revenue in the home furniture segment in India for Fiscal 2022 and stands out as one of the early Indian companies to venture into the super-premium and luxury furniture segment, and it is among the few Indian companies operating in various price categories, including super-premium, luxury, and ultra-luxury, through its multiple brands.

Over the years, the brand has evolved from a sales-focused model to a design-led operation and has become a comprehensive provider of home solutions. It stands as the only super-premium and luxury Indian brand offering a wide range of home solution offerings, including sofas, armchairs, kitchen cabinets, beds, mattresses, and pillows, among others.

The company operates two manufacturing facilities located in Electronic City and Bommasandra Jigani Link Road, Bengaluru, Karnataka. Its in-house manufacturing expertise coupled with its retailing model differentiates it’s from its Indian and Foreign Peers

As of December 31, 2023, it operated 38 'company-owned and company-operated' or "COCO" stores, all located in major metro-cities such as Bengaluru, Chennai, New Delhi, Mumbai, and Hyderabad. Additionally, it has 21 'franchisee-owned and franchisee-operated' or "FOFO" stores in 11 cities across nine states and union territories in India.

 

Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited are the book running lead managers and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

 

The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

 

Notes for Reference:

Issue Size of the IPO based on the upper and lower end of the price band

 

Fresh  

OFS (9,133,454 equity shares)

Total

Lower Band (@Rs 351)

Rs 200 crore

Rs 320.58 crore

Rs 520.58 crore

Upper Band (@Rs 369)

Rs 200 crore

Rs 337.02 crore

Rs 537.02 crore

 

Tags : #

About the Author


Team Medicircle

Related Stories

Loading Please wait...

-Advertisements-




Trending Now

The Airborne Mutation: Is Bird Flu Becoming a Human Threat? December 05, 2024
Aster CMI Hospital collaborate with Government of Arunachal Pradesh Provide Affordable Liver Transplantation Services.December 05, 2024
Women missing out on treatment for their number one killerDecember 05, 2024
Packaged Water Under Fire: What FSSAI’s ‘High-Risk’ Tag Means for YouDecember 05, 2024
Life or Death: A New Breakthrough in Detecting Sepsis Before It’s Too LateDecember 05, 2024
Marble Centre International Unveils 'A Shared Memory' at Designuru 4.5December 05, 2024
Size matters: Why fish size diversity is vital for healthy oceansDecember 04, 2024
Cancer on the Menu: How Excess Salt is Quietly Killing Your StomachDecember 03, 2024
Breaking Barriers: Honouring the International Day of Persons with Disabilities December 03, 2024
Invisible Threat: How Air Pollution is Impacting Pregnancies and Shaping Future GenerationsDecember 03, 2024
Medanta Gurugram successfully treats ‘rarest of rare’ lymph node cancer resistant to other drugs using CAR-T Cell TherapyDecember 03, 2024
Nonin Medical secures FDA clearance for its over-the-counter fingertip pulse oximeter, accurate for patients of all skin colorsDecember 02, 2024
ALARM 2024: Amrita Leads the Fight Against Antimicrobial ResistanceDecember 02, 2024
Coral adaptation unlikely to keep pace with global warmingDecember 02, 2024
Reaching the unreached to find missing TB casesDecember 02, 2024
Sip Smart: Why Changing Your Water Habits Can Change Your LifeNovember 28, 2024
Can Your Fingers Predict How Much You Drink? New Study ExplainsNovember 28, 2024
India Leads Global Medical Tourism with 8% Share; PSRI Sets New Benchmarks with nearly 15% International Patient BaseNovember 28, 2024
Medicines save lives but not when they stop workingNovember 28, 2024
A total of 340 Children Participated in the Painting Competition Organized by Asian HospitalNovember 28, 2024