Luxury furniture and lifestyle brand Stanley Lifestyles will open for public subscription on June 21. The Bengaluru-based business aims to raise around Rs 537 crore through the initial share sale for its initial public offering.
The business’ IPO will feature a fresh issue of Rs 200 crore worth of equity shares as well as an offer for sale, the Press Trust of India reported. Stanley Lifestyles’ IPO price band will range from Rs 351 to Rs 369 per share and will end on June 25.
On June 20, the IPO’s bidding for anchor investors will open for one day, India Retailing reported. As part of the offer for sale, the company’s promoters and other shareholders will sell off 91.33 lakh equity shares.
Stanley Lifestyles plans to use the proceeds from the IPO’s fresh share issue to launch new brick-and-mortar stores. The business also plans to renovate some of its existing stores and launch anchor stores.
In December 2023, Stanley Lifestyles opened a brick-and-mortar store in Gurugram to add to its total of over 62 company owned and franchise outlets in New Delhi, Mumbai, Kochi, Hyderabad, and Bengaluru. The business had also got the go ahead from capital markets regulator the Securities and Exchange Board of India to launch its IPO last December.
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