A new IPO is coming in the market. Luxury furniture manufacturer Stanley Lifestyle Limited has set the price band of Rs 351 to Rs 369 per share for the IPO. This issue of Rs 537 crore of the company will include both fresh shares and offer for sale (OFS). New shares worth Rs 200 crore will be issued in Stanley Lifestyle Limited IPO, while 91.33 shares will be offered for sale. Its market value at the upper price band is Rs 2,103.9 crore. This issue will open for subscription on June 21 and will close on June 25. According to the price band advertisement released by the company on Friday, the anchor portion of the offer will open on June 20. The minimum lot size for bidding will be 40 shares and further bids will be placed in multiples thereof. Axis Capital Limited, ICICI Securities Limited, JM Financial Limited and SBI Capital Markets Limited will be the book-running lead managers for this issue.
What kind of business does the company do?
This Bengaluru based company is a super-premium and luxury furniture brand. Along with manufacturing, it does retail work on a large scale. The company will open new stores with the money received from the issue. New stores will be opened with Rs 90.13 crore raised from the fresh issue, while Rs 39.99 crore will be used for opening anchor stores and Rs 10.04 crore will be used for renovation of existing stores.
The market share of luxury furniture brand is 5.61%. For financial year 2023, the company’s revenue from operations increased to Rs 419 crore from Rs 292.20 crore a year ago, while net profit increased to Rs 34.98 crore from Rs 23.22 crore a year ago.
