Stanley Lifestyles IPO will close on June 25. The company, which is in the business of luxury furniture manufacturing, opened the issue on June 21.
Issue Size
Stanley Lifestyles kept the issue size of Rs 537.02 crore. Out of this, the fresh segment has 5.4 million shares, amounting to Rs 200 crore, while the offer for sale of 9.1 million shares, the bigger part of the issue, aggregates to Rs 337.02, which will be pocketed by promoters and other selling shareholders.
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Price Band
The designer furniture-making company set the price band in a range of Rs 351 to Rs 369 per equity share.
Book Managers
Stanley Lifestyles is a book-built issue in which ICICI Securities, Axis Capital, JM Financial, and SBI Capital Markets are working as the lead book managers.
Allotment
As of now, the registrar is expected to finalise the allotment of shares by June 26. When the registrar successfully credits the shares to the D-Mat accounts of investors who applied for the IPO share by submitting the application, it is called an IPO allotment.
Listing Date
The furniture manufacturer will hit the bourses on June 28, according to the scheduled tentative date. The share will list on both the exchanges – NSE and BSE.
Registrar
The work of the registrar is being handled by Kfin Technologies. Investors who have applied or will apply for the issue can check the allotment status on the website of Kfin Technologies.
Minimum Investment Required
A retail participant needs to submit an application for at least one lot of 40 shares, this translates to an amount of Rs 14,760. Meanwhile, non-institutional investors and qualified institutional buyers have different lot sizes containing different numbers of shares.
Where will the raised money be used?
The money raised through the fresh issue will be mostly used for opening 24 new stores and three anchor stores. Apart from them, 15 stores will be renovated over FY24–27. Meanwhile, the money collected through the offer for sale will be pocketed by promoters and other selling shareholders.
The company is targeting exploding high-net-worth individuals. Also, a potentially higher furniture mix in new house spending should drive 20–25% mid-term industry growth, said Emkay Global in an IPO note, quoting RedSeer. “Stanley targets leading this growth profitably, by replicating the success seen in Bengaluru in other metros too, and via investments in brand, category/assortment expansion. Complete ownership of the supply chain, customization, and a shorter lead time are its key moats. A payback period of 3–4 years is attractive and akin to listed luxury retailer peer Ethos,” said Emkay.
