Stanley Lifestyles IPO opened the issue to investors on June 21 to raise Rs 537.02 crore. The company set the IPO price band in a range of Rs 351 to 369 per equity share.
The issue is a combination of fresh shares as well as an offer for sale. The company will offer 5.4 million fresh shares to collect Rs 200 crore. While the company’s promoters and selling shareholders will dump 9.1 million shares to pocket Rs 337.02 crore, the offer for sale is the bigger part of the issue.
Allotment and Listing
The luxury furniture company’s IPO will close on June 25. The allotment for the shares is expected to be finalised on June 26. The listing is tentatively scheduled for June 28 on the mainboard of BSE and NSE.
Minimum investment required
A retail bidder must apply for a minimum of one lot, containing 40 shares, which, when multiplied by the issue’s upper band amounts to Rs 14,760. Meanwhile, there are different lot sizes for NIIs and QIBs.
BRLMs and Registrar
Axis Capital, SBI Capital Markets, ICICI Securities, and JM Financial are the leading book managers of the issue, while Kfin Technologies is the registrar.
Expert’s take on Stanley’s IPO
Stanley Lifestyles ranks among the few home-grown super-premium and luxury consumer brands in India operating at scale in terms of manufacturing as well as retail operations. The company has evolved its products over the last few years, operating at a significant scale while maintaining a high level of profitability covering the mass, luxury, and ultra-luxury segments. With an improved lifestyle and a growing number of households, the second-home trend will continue to drive growth. “The management is committed to expanding market share and increasing the customer base over the next few years. Hence, we recommend a “Subscribe” to the issue,” said Reliance Securities in an IPO note.