Stanley Lifestyles IPO details, Stanley Lifestyles IPO price band: The IPO of luxury furniture brand Stanley Lifestyles opened for subscription today, June 21. The Rs 537-crore initial public offering (IPO), with a price band of Rs 351 to Rs 369 per share, has concluded on June 25. 

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The IPO comprises fresh issuance of equity shares worth Rs 200 crore and an offer-for-sale (OFS) component of 91.33 lakh equity shares by the company's promoters and other shareholders to the tune of Rs 337 crore at the upper end of the price band.

Stanley Lifestyles IPO subscription status

According to provisional exchange data, Stanley Lifestyles IPO's share sale received bids for 99,32,30,160 shares against 1,02,41,507 shares on offer, translating into a subscription of  96.98 per cent times on Tuesday, the third day of the bidding process.

Category Subscription (No. of times the equity reserved)
Qualified institutional buyers  222.10
Non-institutional investors 119.52
Retail investors

19.21
Overall

96.98
Source: Exchange data

Stanley Lifestyles IPO: Here are key details to know

Stanley Lifestyles IPO IPO allotment date

The basis of the allotment of shares under the IPO of Stanley Lifestyles is set to be finalised on June 26. 

Stanley Lifestyles IPO listing date

The Stanley Lifestyles IPO stock is likely to be listed in the secondary market on Friday, June 28. The equity shares of the company will be listed on BSE and NSE.

Stanley Lifestyles IPO lot size

The minimum lot size for an application is 40 shares. The minimum amount of investment required by retail investors is Rs 14,877.

Stanley Lifestyles IPO: Fund Utilisation

The net proceeds from the fresh issue to the tune of Rs 90.13 crore will be used by the company towards expenditure for opening new stores, Rs 39.99 crore expenditure for opening the anchor stores and Rs 10.04 crore expenditure for renovation of existing stores.

Funds to the tune of Rs 8.18 crore for funding the capital expenditure requirements for purchase of new machinery and equipment by the company and its material subsidiary, SOSL (Stanley OEM Sofas Ltd) and for general corporate purposes.

Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

Moreover, investors can bid for a minimum of 40 equity shares and in multiples of 40 equity shares thereafter.

What does Stanley Lifestyles do?

Bengaluru-based Stanley Lifestyles is a luxury furniture brand and it is among the few Indian companies operating in various price categories, including super-premium, luxury, and ultra-luxury, through its multiple brands.

The company operates two manufacturing facilities in Bengaluru.

Stanley Lifestyles IPO: Book running lead managers 

Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets Ltd are the book-running lead managers to the issue. 

Stanley Lifestyles IPO: Registrar

Kfin Technologies Limited is the registrar for the issue.

Stanley Lifestyles on Thursday raised a little over Rs 161 crore from anchor investors, a day before its initial share-sale. Those who have been allotted shares are -- SBI Mutual Fund (MF), Nippon India MF, ICICI Prudential MF, HDFC MF, Quant MF, Motilal Oswal MF, Bandhan MF, SBI Life Insurance Company and Max Life Insurance Company, according to a circular uploaded on BSE's website. Stanley Lifestyles has decided to allot 43.66 lakh equity shares to 16 funds at Rs 369 a piece, taking the aggregate transaction size to Rs 161.1 crore.

(With PTI inputs)

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