Stanley Lifestyles IPO: Furniture maker garners ₹161.10 crore from anchor investors ahead of public issue

Bengaluru-based furniture maker Stanley Lifestyles, on Thursday, raised over ₹161.10 crore from anchor investors ahead of its initial public offering that opens for public subscription on Friday, June 21.

According to the exchange filing, the company allocated 43,66,051 equity shares at ₹369 per share on Thursday, June 20, to anchor investors.

Foreign and domestic institutions that participated in the anchor allocation included SBI MF, SBI AF, Nippon MF, HDFC MF, East Spring Investment India, Quant MF, SBI Life Insurance, Loomis and Sayles, Optimix Wholesale Global Emerging Markets Share Trust, Franklin India Opportunities Fund, Bandhan MF, Motilal Oswal MF, Max Life, Aditya Birla SunLife Insurance, and Meru Investment Fund.

Out of the total allocation of 43,66,051 equity shares to anchor investors, 26,77,080 equity shares were allocated to seven domestic mutual funds through a total of eight schemes, amounting to approximately ₹98.78 crore, which constitutes 61.32 per cent of the total anchor book size.

Stanley Lifestyles IPO details

The company plans to raise ₹537 crore through its IPO, consisting of a fresh issue of shares worth ₹200 crore and an offer-for-sale (OFS) of 91.33 lakh equity shares worth ₹337.02 crore by existing shareholders, including promoters Sunil Suresh and Shubha Sunil.

The price band for the public issue has been set at ₹351-369 per share. The IPO will open for subscription on June 21 and will close on June 25.

Investors can place bids for a minimum of 40 equity shares, with additional bids in multiples of 40 shares.

The Offer is being conducted through the Book Building Process, with allocations structured as follows: up to 50 per cent of the Offer is reserved for Qualified Institutional Buyers, at least 15 per cent is allocated to Non-Institutional Bidders, and at least 35 per cent is set aside for Retail Individual Bidders.