Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
Stanley Lifestyles Ltd has fixed a price band of Rs 351-369 a share for its initial public offering that will open for subscription on June 21.
The anchor bidding will start on June 20 and the issue will close on June 25. Basis of allotment will be on June 26, initiation of refunds will be on June 27 and the stock will be listed on exchanges on June 28.
The IPO consists of a fresh issue of Rs 200 crore and an offer for sale of upto 9.13 million shares. On the upper price band, the total issue size will be at Rs 537 crore. The total mcap of the firm will be at Rs 2000 crore.
The proceeds from the fresh issue will be used for opening new stores and for buying new machinery and equipment. The company plans to open 24 new stores in Delhi, Tamil Nadu, Telangana, and Maharashtra between 2025 and 2027 through its subsidiaries: ABS Seating Pvt. Ltd., Sana Lifestyles Ltd., Stanley Retail Ltd., Shrasta Décor Pvt. Ltd., and Staras Seating Pvt. Ltd.
Stanley Lifestyles, a top Indian super-premium and luxury furniture brand, is renowned for its extensive manufacturing and retail operations. Selling under the "Stanley" brand, it has built strong recognition and customer loyalty through quality products and targeted marketing campaigns like "Beautiful Living," "Design Glamour," "Luxury Unlimited," and "Bed of Dreams."
As of December 2023, the firm has 62 number of company owned and company operated and franchisee-owned and franchisee-operated stores.
Axis Capital, ICICI Securities, JM Financial, and SBI Capital Markets are appointed as the merchant bankers to the issue.
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