Stanley Lifestyles IPO opens: 8 things to know before subscribing to the issue - Hindustan Times
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Stanley Lifestyles IPO opens: 8 things to know before subscribing to the issue

Jun 21, 2024 10:35 AM IST

Stanley Lifestyles IPO will close on June 25 and investors can bid for a minimum of 40 equity shares and multiples of 40 equity shares thereafter.

Stanley Lifestyles IPO opens for subscription today (June 21). This comes after an anchor investors' bidding for the issue on June 20 in which the company garnered 161.10 crore. The IPO has a price band of 351 to 369 per equity share with a face value of 2. Stanley Lifestyles is an Indian super-premium and luxury furniture brand and is one of the few home-grown super-premium and luxury consumer companies that operate on a large scale in terms of both production and retail.

Stanley Lifestyles is an Indian super-premium and luxury furniture brand and is one of the few home-grown super-premium and luxury consumer companies that operate on a large scale in terms of both production and retail.
Stanley Lifestyles is an Indian super-premium and luxury furniture brand and is one of the few home-grown super-premium and luxury consumer companies that operate on a large scale in terms of both production and retail.

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Here are top things you need to know about Stanley Lifestyles IPO:

  1. Stanley Lifestyles IPO will close on June 25 and investors can bid for a minimum of 40 equity shares and multiples of 40 equity shares thereafter.
  2. The issue reserves 50% of the shares for qualified institutional buyers (QIB), 15% for non-institutional institutional investors (NII) and 35% for retail investors. Read more: Ola Electric gets Sebi approval for 5,500 crore IPO
  3. The IPO comprises a fresh issue of 200 crore, and an offer-for-sale (OFS) of 9,133,454 equity shares by the promoters and shareholders.
  4. In the OFS, promoter selling shareholder- Sunil Suresh and Shubha Sunil- will offload up to 1,182,000 equity shares each. Other selling shareholders are Oman India Joint Investment Fund II (5,544,454 equity shares), Kiran Bhanu Vuppalapat (1,000,000 equity shares) and Sridevi Venkata Vuppalapati (225,000 equity shares), the company said.
  5. Net proceeds from the IPO will be used by the company to open more stores and buy new machinery and equipment, it said. Read more: Emcure Pharma gets Sebi approval for IPO: What we know
  6. The company has said that it plans to open 24 new stores between 2025 and 2027. These would be located Delhi, Tamil Nadu, Telangana and Maharashtra via subsidiaries ABS Seating Pvt Ltd, Sana Lifestyles Ltd, Stanley Retail Ltd, Shrasta Décor Pvt Ltd, and Staras Seating Pvt Ltd.
  7. Book-running lead managers of Stanley Lifestyles IPO are Axis Capital Limited, ICICI Securities Limited, JM Financial Limited and SBI Capital Markets Limited.
  8. Kfin Technologies Limited is the registrar of the issue.

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