Stanley Lifestyles, a prominent player in the design and sale of customizable seating products, made a remarkable debut on June 28 by listing at a 34% premium on the National Stock Exchange. The company successfully raised Rs 537.02 crore from investors through a mix of fresh issue and offer for sale. The IPO, which was open for bidding from June 21 to June 25, witnessed a positive response from the market.
The company maintained a price band of Rs 351 to Rs 369 per equity share, attracting significant interest from investors. The IPO garnered widespread attention, with retail buyers required to apply for at least one lot consisting of 40 shares. Notably, the retail presence of Stanley Lifestyles in India surpasses that of its closest competitor in the luxury furniture industry.
As of December 31, 2023, the company operated a total of 38 ‘company owned and company operated’ stores across major metro cities, in addition to 24 ‘franchisee-owned and franchisee-operated’ stores in various cities. The successful listing of Stanley Lifestyles marks a significant milestone for the company’s growth and expansion plans.
The IPO also saw robust bidding activity, with the company raising Rs 200 crore through the issuance of fresh shares. On the allotment front, retail buyers, NIIs, and QIBs had specific lot sizes for their applications. Moreover, prominent financial institutions such as Axis Capital, ICICI Securities, JM Financial, and SBI Capital Markets played key roles as book-running lead managers for the IPO, with Kfin Technologies serving as the registrar.
Given the positive response to Stanley Lifestyles’ IPO and its impressive debut on the stock exchange, the company is poised for further growth and expansion in the luxury furniture segment. Investors and industry experts are closely monitoring the developments to gauge the company’s performance in the market. Stay tuned for more updates on Stanley Lifestyles’ journey in the evolving business landscape.
