Stanley Lifestyles Ltd IPO Opens On June 21. Check IPO Details Issue Date Price

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Stanley Lifestyles Ltd IPO Opens On June 21. Check IPO Details Issue Date Price

June 21, 2024
Stanley Lifestyles Ltd IPO Opens On June 21. Check IPO Details Issue Date Price

Stanley Lifestyles Limited is coming out with a public issue to raise Rs 537 crores from the market.

Below are the details of the Stanley Lifestyles Limited IPO:

  • Issue opens – June 21 (Friday)
  • Issue closes – June 25 (Tuesday)
  • Issue size – Rs. 537 crores
  • Price band – Rs. 351 to 369 per equity share
  • Bid lot – 40 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Stanley Lifestyles Limited are a super-premium and luxury furniture brand in India and among the few home-grown super-premium and luxury consumer brands in India operating at scale in terms of manufacturing as well as retail operations. (Source: RedSeer Report) Further, they are the fourth largest player in the home furniture segment in India in terms of revenue in Fiscal 2023. (Source: RedSeer Report) They have the distinction of being among the first few Indian companies to venture into the super-premium and luxury furniture segment and one of the few Indian company present across various price points, i.e., super-premium, luxury and ultra-luxury segment, through their various brands. (Source: RedSeer Report).
  • They retail their furniture products under the “Stanley” brand. Over the years, they have developed brand recognition and customer loyalty through their quality products, as well as targeted marketing strategies and advertisement campaigns such as “Beautiful Living”, “Design Glamour”, “Luxury Unlimited” and “Bed of Dreams”. They believe that their customers are their ambassadors, that generate publicity for the “Stanley” brand through testimonials and endorsements and word of mouth advertising.
  • They design, manufacture and retail their products through their own network of ‘company owned and company operated’ and ‘franchisee-owned and franchisee-operated’ store with pan-India presence. They offer customers bespoke products by leveraging the skilled craftsmanship of their employees. Their employees possess expertise across various processes that they deploy as part of their operations which include leather marking, cutting, carpentry, sewing and stitching, metal work and polishing. As of December 31, 2023, the total number of craftsman associated with their new product development division were 58 (including permanent employees and craftsmen on contractual basis).
  • They market and sell their products through their network of stores. They believe their stores are the first step towards entering the world of luxury furniture for their customers. Over the years, they have significantly expanded their network of stores and as of December 31, 2023, they operated 38 ‘company owned and company operated’ or “COCO” stores all located in the major metro-cities of Bengaluru, Chennai, New Delhi, Mumbai and Hyderabad and 24 ‘franchisee-owned and franchisee-operated’ or “FOFO” stores in 21 cities across 11 States and Union Territories in India.

Issue Size:Rs.537 Cr

Issue Break-up:

QIB – 50 % of the offer – Rs. 268.51 Cr.
NIB – 15 % of the offer – Rs. 80.55 Cr.
RET – 35 % of the offer – Rs. 187.96 Cr.

Listing:BSE & NSE

Registrar:KFin Technologies Limited

UPI:All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode.

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to ? 5,00,000) shall expire at 5:00 PM on the closing day of the FPO i.e., Tuesday, June 25th, 2024.

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