IPO News

Stanley Lifestyles gets Sebi nod for IPO

Posted On : 2023-12-05 18:56:19( TIMEZONE : IST )

Stanley Lifestyles gets Sebi nod for IPO

Bengaluru-based Stanley Lifestyles Ltd has received final observation from the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).

The company filed the DRHP for its initial public offering with SEBI on September 4, 2023.

The IPO, with a face value of Rs 2 consists of a fresh issue of up to Rs 200 crore and an offer for sale (OFS) of up to 9.13 million equity shares by the promoter and investor selling shareholders.

As per the DRHP, the proceeds from the fresh issue to the tune of Rs 90.13 crore will be used for expenditure for opening the new stores, Rs 39.99 crore expenditure for opening the anchor stores, Rs 10.04 crore expenditure for renovation of the existing stores, and Rs 8.18 crore for funding the capital expenditure requirements for the purchase of new machinery and equipment by the company and its material subsidiary, SOSL, and general corporate purposes.

The Home Solutions Co. holds the fourth position in terms of revenue in the home furniture segment in India for Fiscal 2022 and stands out as one of the early Indian companies to venture into the super-premium and luxury furniture segments.

It is among the few Indian companies operating in various price categories, including super-premium, luxury, and ultra-luxury, through its multiple brands and also one of the few domestically originated high-end and luxury consumer brands in India that have a substantial presence in both manufacturing and retail operations.

Over the years, the Stanley brand has evolved from a sales-focused model to a design-led operation and has become a comprehensive provider of home solutions. It is the only super-premium and luxury Indian brand offering a wide range of home solution offerings, including sofas, armchairs, kitchen cabinets, beds, mattresses, and pillows, among others.

Expanding its product portfolio, the brand recently launched a new format store "Stanley Personal" that includes handcrafted shoes, bags and other lifestyle products aiming to connect with a younger demographic.

Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.

Source : Equity Bulls


StanleyLifestyles Approval SEBI FundRaising IPO