Bengaluru-based Stanley Lifestyles Ltd, India’s largest super-premium and luxury furniture brand, has set the price range for its initial public offering (IPO) at ₹351 to ₹369 per equity share, each with a face value of ₹2. The IPO will open for subscription on Friday, June 21, 2024, and close on Tuesday, June 25, 2024. Investors can bid for a minimum of 40 equity shares and in multiples of 40 shares thereafter.
The IPO includes a fresh issue worth ₹200 crore and an offer for sale (OFS) of up to 9.13 million shares by promoter and investor selling shareholders.
As of December 31, 2023, Stanley Lifestyles offered customers a diverse selection of products across multiple catalogues, designs, configurations, and SKUs, with options in 10 different types and over 300 colors of leathers and fabrics.
Stanley ranks fourth in revenue within India’s home furniture segment for Fiscal 2022. It was one of the first Indian companies to enter the super-premium and luxury furniture market and is among the few Indian companies operating across various price categories, including super-premium, luxury, and ultra-luxury, through its multiple brands.
The brand has transitioned from a sales-focused model to a design-led operation, now offering comprehensive home solutions. Stanley is the only Indian super-premium and luxury brand providing a wide range of home solutions, including sofas, armchairs, kitchen cabinets, beds, mattresses, and pillows.
The company operates two manufacturing facilities located in Electronic City and Bommasandra Jigani Link Road, Bengaluru, Karnataka. Its in-house manufacturing expertise, combined with its retailing model, sets it apart from its Indian and foreign peers.
As of December 31, 2023, Stanley operated 38 company-owned and company-operated (COCO) stores in major metropolitan cities such as Bengaluru, Chennai, New Delhi, Mumbai, and Hyderabad. Additionally, it has 21 franchisee-owned and franchisee-operated (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 for the offer, with KFin Technologies Limited serving as the registrar. The equity shares are proposed to be listed on the BSE and NSE.
The offer is being made through the book-building process, with not more than 50% of the offer allocated to qualified institutional buyers, not less than 15% to non-institutional bidders, and not less than 35% to retail individual bidders.
