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

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

Vaamanaa Sethi
First Published20 Jun 2024, 10:27 PM IST
Stanley Lifestyles IPO: The Bengaluru-based furniture maker's public issue will open for subscription on June 21 and will close on June 25.
Stanley Lifestyles IPO: The Bengaluru-based furniture maker’s public issue will open for subscription on June 21 and will close on June 25.

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.

Also Read | Ola Electric, Emcure Pharmaceuticals get SEBI nod for IPO launch

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.

Also Read | Allied Blenders and Distillers IPO price band set at ₹267-281 apiece

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.

 

 

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
First Published:20 Jun 2024, 10:27 PM IST
HomeMarketsIPOStanley Lifestyles IPO: Furniture maker garners ₹161.10 crore from anchor investors ahead of public issue

Most Active Stocks

Indian Oil Corporation

174.50
03:59 PM | 11 JUL 2024
2.55 (1.48%)

Tata Steel

169.00
03:58 PM | 11 JUL 2024
1 (0.6%)

Bharat Petroleum Corporation

306.60
03:59 PM | 11 JUL 2024
6.25 (2.08%)

Oil & Natural Gas Corporation

304.80
03:57 PM | 11 JUL 2024
6.75 (2.26%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Gujarat Pipavav Port

236.60
03:58 PM | 11 JUL 2024
16.85 (7.67%)

Oil India

551.45
03:58 PM | 11 JUL 2024
38.7 (7.55%)

Mazagon Dock Shipbuilders

5,739.10
03:55 PM | 11 JUL 2024
383.7 (7.16%)

Great Eastern Shipping Company

1,455.65
03:58 PM | 11 JUL 2024
93.9 (6.9%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    73,705.000.00
    Chennai
    74,722.000.00
    Delhi
    73,705.000.00
    Kolkata
    74,722.000.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.75/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts