Stanley Lifestyles is a company that designs and manufactures super-premium, luxury, and ultra-luxury furniture—sofas and recliners. The company sells those products under its brand name, “Stanley.”

Issue Size

The luxury furniture company will open bidding for its issue on June 21 to raise Rs 537.20 crore. The book-built issue has two segments: a fresh issue and an offer for sale. The company will collect Rs 200 crore from selling 5.4 million fresh shares. It will raise Rs 337.02 crore by offering 9.1 million shares to promoters and other selling shareholders.

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Price Band

Stanley Lifestyles kept the price band in a range of Rs 351 to Rs 369 per equity share. The issue will take bidding until June 25, marking its last day of subscription. 

Allotment and Listing

The share allotment is expected to be finalised by June 26. The listing is expected to be on June 28—the tentatively scheduled date—on both bourses. 

A retail investor needs to buy at least a single lot containing 40 shares, or Rs 14,760. For NIIs and QIBs, there are different lot sizes. 

About Stanley Lifestyles

The company is among the few home-grown super-premium and luxury consumer brands in India operating at scale in terms of manufacturing as well as retail operations, said Stanley in the papers filed with SEBI. “We retail our furniture products under the “Stanley” brand with a wide range of home solutions offerings, such as sofas, armchairs, kitchen cabinets, beds, mattresses, and pillows, amongst others.”

BLRMs

The company’s issue is being handled by Axis Capital, JM Financial, ICICI Securities, and SBI Capital Markets, while the registrar’s work has been handled by Kfin Technologies. 

Expert’s take on Stanley’s IPO

“On the valuation front, at an upper band, the company is richly priced at a P/E of 60x post-issue of equity shares on a FY earnings basis, the company has no listed peers. We believe that the company has a scope for business improvement on the back of industry tailwinds, brand recall, and business scalability,” said Anand Rathi Research in an IPO note. “We recommend a “Subscribe for long term” rating to the IPO.