Stanley Lifestyles IPO Sees 5.25x Subscription on Day 2

On the second day of the bidding process, the Stanley Lifestyles Limited IPO was subscribed 5.25 times. The retail portion was subscribed to 6.22x, 0.71x in Qualified Institutional Buyers (QIB), and 9.02x in Non-Institutional Investors (NII).

On the first day of subscription, the IPO was subscribed to 1.59x. QIBs subscribed 0.29x, NIIs subscribed 2.12x, and retail investors subscribed 2.12x.

The IPO opened on Friday, June 21, 2024, and will close on June 25, 2024. The listing is expected on Friday, June 28, 2024, on the NSE and BSE.

On June 24, 2024, unlisted shares of Stanley Lifestyles Ltd were trading at ₹172 in the grey market.

Stanley Lifestyles Ltd’s IPO price range has been set at ₹351 to ₹369 per share. The minimum investment required (retail investors) is ₹14,760, and the minimum lot size is 40 shares. The IPO comprises both a fresh issue and an Offer For Sale (OFS), with a total issue size of 14,553,508 shares aggregating up to ₹537.02 crore.

The object of the Stanley Lifestyles Limited IPO is for:

• Expenditure for opening anchor stores
• Expenditure for opening new stores under the formats of Stanley Boutique, Sofas & More by Stanley and Stanley Level Next
• Expenditure for renovating existing stores under the formats of Stanley Level Next, Stanley Boutique, and Sofas & More by Stanley.
• Funding the capex requirements to purchase new machinery and equipment by the company and Material Subsidiary, SOSL
• General corporate purposes

On June 20, 2024, the company’s IPO committee and the book-running lead managers finalised the allocation of 43,66,051 equity shares to Anchor Investors at an Anchor Investor allocation price of ₹369 per share.

About Stanley Lifestyles Ltd

Established in 2007, Stanley Lifestyles Limited specialises in designing and manufacturing super-premium, luxury, and ultra-luxury furniture under the brand “Stanley”. As of December 31, 2023, the company operated 38 “company-owned and company-operated” (COCO) stores in major metropolitan cities like Chennai, Bengaluru, Mumbai, Hyderabad and New Delhi. Additionally, it has 24 “franchisee-owned and franchisee-operated” (FOFO) stores across 21 cities in 11 Indian states and Union Territories.

The company’s product development division is located in Bengaluru, Karnataka, its manufacturing hub, and occupies approximately 15,000 square feet. As of December 31, 2023, Stanley Lifestyles Limited employed 778 professionals.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.