Stanley Lifestyles Makes Impressive Debut on June 28; Lists at 34% Premium

Stanley Lifestyles made a strong entry on the National Stock Exchange, listing at Rs 494.95, which is 34% higher than its issue price. The company raised Rs 537.02 crore from investors through a mix of fresh shares and an offer for sale.

Price Band

The price range for the shares was set between Rs 351 and Rs 369 per equity share. The IPO was open for bidding from June 21 to June 25.

Issue Segment

The company generated Rs 200 crore by issuing 5.4 million new shares. Meanwhile, the promoters and other selling shareholders earned Rs 337.02 crore by selling 9.1 million shares.

Allotment

The allotment of Stanley Lifestyles shares was finalized on June 26.

Minimum Investment

Retail investors had to apply for at least one lot, which included 40 shares, totaling Rs 14,760. The lot size varied for Non-Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs).

About Stanley Lifestyles

Stanley Lifestyles specializes in designing, producing, and selling seating products, many of which can be customized. Options include 4-seater or 3-seater sofas, different leg styles, and various upholstery choices like Scandinavia Max, Euro Nappa, Tuscana, Nova Cashmere, and Poach Molba. As of January 30, 2024, their retail presence in India was four times larger than their closest competitor in the luxury and super-premium furniture market.

By December 31, 2023, the company operated 38 “company-owned and company-operated” (COCO) stores in major cities like Bengaluru, Chennai, New Delhi, Mumbai, and Hyderabad. Additionally, they had 24 “franchisee-owned and franchisee-operated” (FOFO) stores in 21 cities across 11 states and union territories in India.

BRLMs and Registrar

Axis Capital, ICICI Securities, JM Financial, and SBI Capital Markets were the book-running lead managers for the Stanley Lifestyles IPO. Kfin Technologies served as the registrar for the issue.