Stanley Lifestyles IPO subscribed 96.98 times

Mumbai: The initial public offering (IPO) of Stanley Lifestyles was subscribed 96.98 times on the final day of the offer Tuesday. The ₹537-crore issue of the luxury furniture brand was priced at ₹351-369 per share.

The qualified institutional buyer (QIB) portion was subscribed 222.1 times, the non-institutional investor (NII) portion 119.52 times while the retail investor portion was subscribed 19.21 times.

The offer consisted of a fresh issue of ₹200 crore and an offer for sale of up to 91.3 lakh shares worth ₹337 crore. The company aims to use ₹90.1 crore out of the proceeds for new stores by their subsidiaries, ₹40 crore for opening the anchor stores, ₹10 crore for renovation of the existing stores, ₹6.6 crore for capex and rest for general corporate purposes.


The company operated 38 'company-owned and company-operated' stores across cities such as Bengaluru, Chennai, New Delhi, Mumbai, and Hyderabad, and also had 21 'franchisee-owned and franchise-operated' stores in 11 cities across nine states and union territories across the country, as last year.

Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets were the book-running lead managers for the IPO.