Stanley Lifestyles IPO to open on June 21; check price band, issue size, listing date and more

The initial public offering (IPO) of Stanley Lifestyles opens for bidding on Friday, June 21. The company shall be offering its shares in the fixed price band of Rs 351-369 apiece. Investors can apply for the issue bidding for a minimum of 40 equity shares and its multiples thereafter until Tuesday, June 25.
 

Founded in 2007, Stanley Lifestyles designs and manufactures super-premium, luxury and ultra-luxury furniture and sells it through its brand 'Stanley'. Its product range includes categories like seating; wooden cased products; kitchen and cabinet; beds and mattresses; and automotive products.
 

The IPO of Stanley Lifestyles included a fresh share sale of Rs 200 crore and an offer-for-sale (OFS) of up to 91,33,454 equity shares by its promoters and existing shareholders amounting to Rs 337.02 crore, at the upper end of the price band. The company is looking to raise about Rs 557 crore via IPO route. Anchor book for the issue opens on Thursday, June 20.
 

Bengaluru-based Stanley Lifestyles operated 38 company-owned and company-operated' (COCO) stores, located in the major metropolitan cities of Bengaluru, Chennai, New Delhi, Mumbai, and Hyderabad, and 24 franchisee-owned and franchise-operated (FOFO) stores in 21 cities across 11 Indian states and Union Territories as of as of December 31, 2023.
 

Stanley Lifestyles' product development department is spread over approximately 15,000 square feet at its manufacturing city in Bengaluru, Karnataka. and as of December 31, 2023, the company had 778 employees.
 

Stanley Lifestyles reported an net profit of Rs 18.70 crore with a revenue of Rs 322.29 crore for the nine months ended on December 31, 2023. Its bottomline stood at Rs 34.98 crore with a revenue of Rs 425.62 crore for the financial year 2022-23.
 

Stanley Lifestyles has reserved 50 per cent of the issue for the qualified institutional bidders (QIBs), while non-institutional investors have 15 per cent of the net offer.  Remaining 35 per cent of the net offer shall be allocated towards retail investors.
 

Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets are the book running lead managers of the Stanley IPO, while Kfin Technologies is the registrar for the issue. Shares of the company will be listed on both BSE and NSE, with Friday, June 28 as the tentative date of listing.