Stanley Lifestyles IPO to Launch on June 21

Stanley Lifestyles Limited specializes in designing and manufacturing high-end furniture under the brand Stanley. Their product range includes seating like sofas and dining chairs, case goods such as coffee tables and consoles, kitchens, cabinets, and wardrobes, as well as mattresses and bed frames. They also offer customizable shoes and leather car seat covers. While the company manufactures its own products, it imports and sells ancillary items like lighting and switches.

About the Issue

Stanley Lifestyles Limited is set to launch its IPO, valued at Rs 537.02 crores, combining a fresh issue of 0.54 crore shares worth Rs 200.00 crores and an offer for sale of 0.91 crore shares totaling Rs 337.02 crores. Subscriptions for the IPO will commence on June 21, 2024, and conclude on June 25, 2024. The allotment of shares is expected to be finalized by June 26, 2024. Stanley Lifestyles IPO is expected to be listed on the exchanges on June 28, 2024.

Axis Capital Limited, ICICI Securities Limited, Jm Financial Limited, and SBI Capital Markets Limited are the book-running lead managers of the Stanley IPO, while Kfin Technologies Limited is the registrar for the issue.

Objectives of the Issue

The IPO aims to fund strategic objectives for Stanley Lifestyles Limited, including expanding retail presence by opening new stores under Stanley Level Next, Stanley Boutique, and Sofas & More by Stanley, and establishing its anchor stores. In addition to this, funds will support renovating existing stores for enhanced customer experience. Capital expenditure will cover new machinery and equipment for the company and its subsidiary SOSL, alongside general corporate purposes.

Financials

Conclusion

The Stanley Lifestyles Limited IPO aims to raise Rs 537.02 crores, including a fresh issue of 0.54 crore shares worth Rs 200.00 crores and an offer for sale of 0.91 crore shares totaling Rs 337.02 crores. Subscriptions will be open from June 21, 2024, to June 25, 2024, with allotment finalization expected by June 26, 2024, and a tentative listing on BSE and NSE on June 28, 2024. The funds will support strategic objectives such as opening new stores, renovating existing ones, purchasing new machinery, and covering general corporate purposes. 

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.