June 15, 2024
New Delhi, India
IPO Watch
Stanley Lifestyles Limited, a fully integrated luxury furniture manufacturer, is set to launch its initial public offering (IPO) soon. Here are the key details you need to know:
IPO Price Band and Subscription Dates
- Price Band: ₹351 to ₹369 per equity share
- Face Value: ₹2 per share
- Subscription Dates: June 21 to June 25, 2024
- Anchor Investor Allocation Date: June 20, 2024
Issue Details
- Fresh Issue: ₹200 crore
- Offer-for-Sale (OFS): 9,133,454 equity shares by promoters and shareholders
Promoter and Shareholder Offer-for-Sale:
- Sunil Suresh and Shubha Sunil: Up to 1,182,000 equity shares each
- Oman India Joint Investment Fund II: 5,544,454 equity shares
- Kiran Bhanu Vuppalapati: 1,000,000 equity shares
- Sridevi Venkata Vuppalapati: 225,000 equity shares
Pricing and Valuation
- Floor Price: 175.50 times the face value
- Cap Price: 184.50 times the face value
- Minimum Lot Size: 40 equity shares and multiples thereafter
- Price to Earnings Ratio (Fiscal 2023): 57.93 at the upper end of the price band
- Nifty 50 PE Ratio (June 12, 2024): 22.18
Financial Performance
- Revenue Growth: 42.94% increase between March 31, 2022, and March 31, 2023
- Profit After Tax (PAT): 50.64% increase during the same period
Use of Proceeds
- Expansion: Opening 24 new stores in Delhi, Tamil Nadu, Telangana, and Maharashtra between 2025 and 2027
- Equipment: Purchase of new machinery and equipment
Subsidiaries Involved
- ABS Seating Pvt Ltd
- Sana Lifestyles Ltd
- Stanley Retail Ltd
- Shrasta Décor Pvt Ltd
- Staras Seating Pvt Ltd
Industry Position
- Report by RedSeer: Stanley Lifestyles is positioned as a super-premium luxury furniture brand in India.
IPO Managers
- Book-Running Lead Managers:
- Axis Capital Limited
- ICICI Securities Limited
- JM Financial Limited
- SBI Capital Markets Limited
- Registrar: Kfin Technologies Limited
Conclusion
Stanley Lifestyles’ IPO offers a significant opportunity for investors interested in the luxury furniture sector. With robust financial growth and a strategic expansion plan, the company is poised to attract considerable market interest.
Stay tuned for more updates on the stock market and financial news.
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
