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Stanley Lifestyles IPO is a book-built issue of Rs 537.02 crores. The issue is a combination of a fresh issue of 0.54 crore shares aggregating to Rs 200.00 crores and an offer for sale of 0.91 crore shares aggregating to Rs 337.02 crores.
IPO opens for subscription on June 21, 2024, and closes on June 25, 2024. The price band for the IPO is set at ₹351 to ₹369 per share and the minimum lot size for an application is 40 Shares.
Company Summary
They are a super-premium and luxury furniture brand in India and among the few home-grown super-premium and luxury consumer brands in India operating at scale in terms of manufacturing as well as retail operations.
The company’s product list can be divided into the following categories:
Seating: This includes the design, production, and sale of seating furniture such as sofas, sofa beds, recliners, dining chairs, poufs, bar stools, and cushions.
Cased goods: These products have a solid casing, usually made of wood; they include coffee tables, dining tables, end tables, and consoles.
Kitchens and cabinets: These include kitchens and cabinetry products in a variety of materials, finishes, and styles. These include kitchens, wardrobes, laundry/utility cupboards, bar cabinets, shoe racks, prayer cupboards, and bedside tables.
Mattresses and beds: This includes the design, manufacture, and sale of a range of bed frames, mattresses, pillows, and accessories.
Their revenue from operations in Fiscal 2021, 2022, and 2023 and in the nine months ended December 31, 2023, were ₹ 1,957.80 million, ₹ 2,922.04 million, ₹ 4,189.98 million and ₹ 3,133.11 million, respectively
Company Strengths
- Largest and the fastest-growing brand in the luxury/super-premium furniture segment.
- Pan-India presence with strategically located stores.
- Vertically integrated manufacturer with skilled craftsmanship capabilities.
- Efficient business model with a track record of delivering financial growth.
- Promoter-led company with an experienced professional and senior management team.
Company Financials
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 581.54 | 458.19 | 422.15 | 346.52 |
| Revenue | 322.29 | 425.62 | 297.76 | 201.71 |
| Profit After Tax | 18.70 | 34.98 | 23.22 | 1.92 |
| Net Worth | 237.21 | 216.50 | 199.76 | 182.93 |
| Reserves and Surplus | 225.83 | 207.88 | 191.31 | 174.96 |
| Total Borrowing | 30.90 | 9.37 | 6.09 | 0.25 |
Amount in ₹ Crore | ||||
Objectives of the IPO
The company proposes to utilize the Net Proceeds towards the funding of the following objects:
- Expenditure for opening new stores under the formats of “Stanley Level Next”, “Stanley Boutique” and “Sofas & More by Stanley” (“New Stores”).
- Expenditure for opening anchor stores (“Anchor Stores”).
- Expenditure for the renovation of existing stores under the formats of “Stanley Level Next”, “Stanley Boutique” and “Sofas & More by Stanley” (“Existing Stores”).
- Funding the capital expenditure requirements for purchasing new machinery and equipment by the company and Material Subsidiary, SOSL.
- General corporate purposes.
Promoters of the company
The Promoters of the Company are Sunil Suresh and Shubha Sunil. The Promoters, in the aggregate, hold 34,751,080 Equity Shares in the Company, representing 67.28% of the issued, subscribed, and paid-up Equity Share capital of the Company, on a fully diluted basis.
IPO details
| IPO Date | June 21, 2024 to June 25, 2024 |
| Listing Date | Friday, June 28, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹351 to ₹369 per share |
| Lot Size | 40 Shares |
| Total Issue Size | 14,553,508 shares (aggregating up to ₹537.02 Cr) |
| Fresh Issue | 5,420,054 shares (aggregating up to ₹200.00 Cr) |
| Offer for Sale | 9,133,454 shares of ₹2 (aggregating up to ₹337.02 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 40 | ₹14,760 |
| Retail (Max) | 13 | 520 | ₹191,880 |
| S-HNI (Min) | 14 | 560 | ₹206,640 |
| S-HNI (Max) | 67 | 2680 | ₹988,920 |
| B-HNI (Min) | 68 | 2720 | ₹1,003,680 |
Allotment Schedule
| Basis of Allotment | Wednesday, June 26, 2024 |
| Initiation of Refunds | Thursday, June 27, 2024 |
| The credit of Shares to Demat | Thursday, June 27, 2024 |
| Listing Date | Friday, June 28, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 25, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
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