Stanley Lifestyles got listed at Rs 494.95 on the National Stock Exchange, a premium of 34% to the issue price. The company collected Rs 537.02 crore from investors by offering them a combination of fresh issue as well as an offer for sale.
Price Band
The company kept the price band between a range of Rs 351 to Rs 369 per equity share. The company opened the IPO to investors for bidding on June 21 and closed it on June 25.
Issue Segment
The company raised Rs 200 crore by offering 5.4 million fresh shares. While the promoters and other selling shareholders pocketed Rs 337.02 crore by paring 9.1 million shares.
Allotment
Stanley Lifestyles shares allotment was finalised on June 26.
Minimum investment
A retail buyer needed to apply for a minimum of one lot that contained 40 shares, which aggregated to Rs 14,760. The lot size for different for NIIs and QIBs.
About Stanley Lifestyles
Stanley is primarily engaged in the design, production and sale of seating products majority of which can be customized in various configurations such as 4-seater or 3-seater sofas, leg options and upholstery options such as Scandinavia Max, Euro Nappa / Tuscana
Nova Cashmere / Poach Molba. As of January 30, 2024, their retail presence in India was 4 times the size of their nearest competitor in the luxury/super-premium
furniture industry.
As of December 31, 2023, the company operated 38 “company owned and company operated” (“COCO”) stores all located in the major metro- cities of Bengaluru, Chennai, New Delhi, Mumbai, and Hyderabad, all operated by their subsidiaries and 24 “franchisee-owned and franchisee-operated” (“FOFO”) stores in 21 cities across 11 States and Union Territories in India.
BRLMs and Registrar
Axis Capital, ICICI Securities, JM Financial, and SBI Capital Markets were the book-running lead managers of the Stanley Lifestyles IPO, while Kfin Technologies was the registrar for the issue.