Stanley Lifestyles IPO sets price band at ₹351-369 apiece; check issue, key dates, more
- Stanley Lifestyles IPO priced at ₹351-369 per share, subscription opens June 21 and closes June 25. Anchor investor allocation on June 20. PE ratio for fiscal 2023 at upper end is 57.93. RedSeer Report positions Stanley as super-premium luxury furniture brand in India.
Stanley IPO price band: The initial public offer of the fully integrated luxury manufacturer Stanley Lifestyles Limited has set its price band in the range of ₹351 to ₹369 per equity share of the face value of ₹2 each. The Stanley IPO date of subscription is scheduled for Friday, June 21, and will close on Tuesday, June 25. The allocation to anchor investors for the Stanley Lifestyles IPO will take place on Thursday, June 20.
The floor price is 175.50 times the face value of the equity shares and the cap price is 184.50 times the face value of the equity shares. Bids can be placed for a minimum of 40 equity shares and in multiples of 40 equity shares after that.
The price to earnings ratio based on basic and diluted EPS for fiscal 2023 at the upper end of the price band is as high as 57.93 as compared to price to earnings ratio of Nifty 50 index as on June 12, 2024 is 22.18, the company said in an advertisement on The Financial Express.
According to the RedSeer Report, Stanley Lifestyles is a super-premium and luxury furniture brand in India, and one of the few home-grown super-premium and luxury consumer brands in India that operates at scale in terms of production and retail. Furthermore, in terms of revenue, they are the fourth largest player in India's home furnishings category for Fiscal 2023.
Stanley IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Stanley Lifestyles IPO basis of allotment of shares will be finalised on Wednesday, June 26, and the company will initiate refunds on Thursday, June 27, while the shares will be credited to the demat account of allottees on the same day following refund. Stanley Lifestyles share price is likely to be listed on BSE and NSE on Friday, June 28.
The company has no listed peers in India or overseas, making it impossible to assess and analyse its financial performance against other companies in the same industry.
Stanley Lifestyles Limited's revenue climbed by 42.94% and profit after tax (PAT) increased by 50.64% during the fiscal years ended March 31, 2023 and March 31, 2022.
Stanley Lifestyles IPO details
Stanley Lifestyles IPO, comprises a fresh issue of ₹200 crore, and an offer-for-sale (OFS) of 9,133,454 equity shares by the promoters and shareholders.
In the OFS, promoter selling shareholder, Sunil Suresh and Shubha Sunil will offload up to 1,182,000 equity shares each. The other selling shareholders are Oman India Joint Investment Fund II (5,544,454 equity shares), Kiran Bhanu Vuppalapat (1,000,000 equity shares), and Sridevi Venkata Vuppalapati (225,000 equity shares).
The proceeds from the new issue will be used to open more stores and buy new machinery and equipment. Between 2025 and 2027, the company plans to open 24 new stores in Delhi, Tamil Nadu, Telangana, and Maharashtra via its subsidiaries ABS Seating Pvt Ltd, Sana Lifestyles Ltd, Stanley Retail Ltd, Shrasta Décor Pvt Ltd, and Staras Seating Pvt Ltd.
The Stanley IPO's book-running lead managers are Axis Capital Limited, ICICI Securities Limited, Jm Financial Limited, and SBI Capital Markets Limited, with Kfin Technologies Limited serving as the registrar.
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