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19 Nov 2024
Stanley Lifestyles' IPO opened for subscription on Friday and will close on June 25. The offering includes a fresh equity sale worth Rs 200 crore and an offer for sale (OFS) of 91 lakh shares. Proceeds from the fresh issue will be specifically used for the expansion and renovation of stores.
Analysts recommend subscribing to the IPO due to the company's potential for growth, driven by industry trends, brand recognition, and scalability. Anand Rathi suggests a "Subscribe" rating for long-term investors, highlighting Stanley Lifestyles as a leading super-premium and luxury furniture brand in India with significant manufacturing and retail operations.
Market analysts report that the current grey market premium (GMP) for Stanley Lifestyles is Rs 150 in the unlisted market.
The IPO is priced between Rs 351-369 per share, with investors able to bid for 40 shares per lot. The company aims to raise Rs 537 crore at the upper end of the price band. Of the total public offer, 50% is reserved for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors.
Stanley Lifestyles is a prominent super-premium and luxury furniture brand in India, known for its extensive range of home solutions, including sofas, armchairs, kitchen cabinets, beds, mattresses, and pillows, sold under the Stanley brand. In FY23, the company's revenue from operations increased to Rs 69.51 crore from Rs 67.44 crore the previous year, while profit after tax surged to Rs 15.80 crore from Rs 4.12 crore.
The book-running lead managers for the IPO are Axis Capital, ICICI Securities, JM Financial, and SBI Capital Markets, with Kfin Technologies serving as the registrar.
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