Stanley Lifestyles IPO opens today: Check out its key dates, GMP, and more
IPO News: Stanley Lifestyles is one of India’s few home-grown super-premium and luxury consumer brands. It’s recognized as the fourth largest player in the home furniture segment in India based on revenue in FY23.
Stanley Lifestyles is set to launch its initial public offering (IPO) on Friday, 21 June, 2024, with the goal of raising a total of Rs 537.02 crores. This offering includes a new issue of 0.54 crore shares valued at Rs 200.00 crores, along with an offer for sale of 0.91 crore shares valued at Rs 337.02 crores.
The company has successfully raised Rs 161.11 crore from key investors on June 20. Among the major investors in this offering are SBI Consumption Opportunities Fund, Nippon Life India Trustee, HDFC Mutual Fund, and Quant Mutual Fund.
Stanley Lifestyles is a high-end and luxury furniture brand in India, holding the 4th position in the market for home furniture in terms of revenue for the fiscal year 2023.
The funds raised from this IPO are planned to be utilized for expanding the company’s store network and enhancing the existing ones, as well as covering capital expenditure needs.
Here are the details of Stanley Lifestyles’ Initial Public Offering:
Stanley Lifestyles IPO Key Dates
The subscription period will begin on June 21, 2024, and conclude on June 25, 2024. The allotment process is scheduled for Wednesday, June 26, 2024. The company anticipates listing on both BSE and NSE with a preliminary listing date set for Friday, June 28, 2024.
Stanley Lifestyles IPO Price Range
The company has established a price range for its IPO, ranging from Rs 351 to Rs 369 per share. The minimum investment required for retail investors to apply for shares is 40 shares, amounting to a minimum investment of Rs 14,760. For institutional investors, the minimum investment is 14 lots (560 shares), totaling Rs 206,640, and for institutional investors, it is 68 lots (2,720 shares), totaling Rs 1,003,680.
Stanley Lifestyles IPO GMP
The Chittorgarh IPO has reported the latest premium for Stanley Lifestyles in the grey market, standing at Rs 162. The expected range for the IPO’s listing price is between Rs 369 and Rs 539, suggesting a potential increase of 43.9 percent per share.
Financial Overview of Stanley Lifestyles IPO
During the fiscal year 2023, Stanley Lifestyles experienced a 43.05 percent growth in its revenue, reaching Rs 425.62 crore from the previous year’s figure of Rs 297.76 crore. Its earnings before taxes (EBIT) also saw a significant rise to Rs 34.9 crore, a 50 percent increase from the previous year’s EBIT of Rs 23.2 crore.
Allocation of Shares in Stanley Lifestyles IPO
The IPO has reserved up to 50 percent of its shares for Qualified Institutional Buyers (QIBs), with a minimum allocation of 35 percent to retail investors, and a compulsory allocation of at least 15 percent to Non-Institutional Investors (NIIs).
Lead Managers for Stanley Lifestyles IPO
Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited are the lead managers for the IPO, with KFin Technologies Limited designated as the registrar for the issuance.
