The initial public offering (IPO) of Bengaluru-based Stanley Lifestyles will open for subscription on Friday (June 21), and will conclude on June 25. The company is planning to raise about ₹537 crore through this issue.
Ahead of the IPO opening, the company’s shares are trading with a premium of ₹162 in the unlisted market.
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However, it is important to note that grey market premiums are just an indicator of how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
The super-premium and luxury furniture brand will sell its shares in the price range of ₹351 to ₹369 apiece, and investors can apply for a minimum of 40 equity shares in one lot and its multiples thereafter.
The IPO includes a fresh issue of ₹200 crore and an offer for sale of up to 9,130,000 shares worth ₹337 crore by existing shareholders.
Sunil Suresh and Shubha Sunil, promoters of Stanley, will sell 1.18 million shares each in the OFS portion of the IPO. Investor Oman India Joint Investment Fund II will also divest 5,545,000 shares in the IPO.
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The company will utilise use ₹90.1 crore out of the proceeds for the opening of new stores by their subsidiaries, ₹40 crore for opening the anchor stores, ₹10 crore for renovation of the existing stores, ₹6.6 crore for funding the capital expenditure requirements for purchase of new machinery and equipment and rest for general corporate purposes.
