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

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.

Updated on: Jun 21, 2024, 10:35:33 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

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.

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

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.
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
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.
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.
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
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.
Book-running lead managers of Stanley Lifestyles IPO are Axis Capital Limited, ICICI Securities Limited, JM Financial Limited and SBI Capital Markets Limited.
Kfin Technologies Limited is the registrar of the issue.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator

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

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.

Read more: GP Eco Solutions India IPO allotment: How to check status online Bigshare Services, BSE website

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