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:
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