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Chennai, June 14, 2024: Bengaluru-based, Stanley Lifestyles Ltd, the country’s largest super-premium and luxury furniture brand, has fixed the price band of ₹351/- to ₹369/- per Equity Share of face value ₹2/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, June 21, 2024, for subscription and close on Tuesday, June 25, 2024. Investors can bid for a minimum of 40 Equity Shares and in multiples of 40 Equity Shares thereafter.
The IPO consists of fresh issue of up to Rs 200 crore and an offer for sale (OFS) of up to 9.13 million by Promoter and Investor Selling Shareholders.
As of December 31, 2023, company has offered our customers an opportunity to select products across multiple catalogues, designs, configurations and SKUs with options offered in 10 different types and over 300 colours of leathers and fabrics.
Stanley holds the fourth position in terms of revenue in the home furniture segment in India for Fiscal 2022 and stands out as one of the early Indian companies to venture into the super-premium and luxury furniture segment, and it is among the few Indian companies operating in various price categories, including super-premium, luxury, and ultra-luxury, through its multiple brands.
Over the years, the brand has evolved from a sales-focused model to a design-led operation and has become a comprehensive provider of home solutions. It stands as the only super-premium and luxury Indian brand offering a wide range of home solution offerings, including sofas, armchairs, kitchen cabinets, beds, mattresses, and pillows, among others.
The company operates two manufacturing facilities located in Electronic City and Bommasandra Jigani Link Road, Bengaluru, Karnataka. Its in-house manufacturing expertise coupled with its retailing model differentiates it’s from its Indian and Foreign Peers
As of December 31, 2023, it operated 38 ‘company-owned and company-operated’ or “COCO” stores, all located in major metro-cities such as Bengaluru, Chennai, New Delhi, Mumbai, and Hyderabad. Additionally, it has 21 ‘franchisee-owned and franchisee-operated’ or “FOFO” stores in 11 cities across nine states and union territories in India.
Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited are the book running lead managers and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.
