Stanley Lifestyles IPO: Luxury Furniture Brand Set for Market Debut to Raise Rs 537 Crore - Check Issue Details

The 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.
Stanley Lifestyles IPO: Luxury Furniture Brand Set for Market Debut to Raise Rs 537 Crore - Check Issue Details

Stanley Lifestyles IPO: Luxury Furniture Brand Set for Market Debut to Raise Rs 537 Crore - Check Issue Details. Image Source: CanvaPro

Stanley Lifestyles IPO: Stanley Lifestyles is looking to raise Rs 537 crore through its initial share-sale. Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets Ltd are the book running lead managers to the issue. For FY23, the company's revenue from operations rose to Rs 419 crore from Rs 292.20 crore a year ago, while net profit increased to Rs 34.98 crore in FY23 against Rs 23.22 crore a year back.

Stanley Lifestyles IPO Date

The Luxury furniture brand IPO will open for public subscription on June 21 and will conclude on June 25. The bidding for anchor investors will open for a day on June 20.

Stanley Lifestyles IPO Listing Details

The equity shares of the company will be listed on BSE and NSE.

Stanley Lifestyles IPO Price Band

The Initial Public Offering (IPO) has a price band of Rs 351 to Rs 369 per share.

Stanley Lifestyles IPO Details

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 Objective

The net proceeds from the fresh issue to the tune of Rs 90.13 crore will be used by the company for expenditure for opening the 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 the purchase of new machinery and equipment by the company and its material subsidiary, SOSL (Stanley OEM Sofas Ltd) and for general corporate purposes.
(PTI Inputs)
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
Paras Bisht author

Paras Bisht is an Assistant Editor in ET NOW and Times NOW Business Section. He writes on Personal Finance, Stocks, General News.View More

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