Furniture Company Stanley Lifestyles files DRHP with SEBI for the proposed IPO; Key Details here

Stanley Lifestyles is into Consumer Furniture and is looking raise funds through Fresh Issue & Offer for Sale

Stanley Lifestyles to raise Fresh Issue aggregating up to Rs. 200 crores and an Offer for Sale 9,133,454 Equity Shares through public issue IPO

Stanley Lifestyles IPO: Stanley Lifestyles Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 200 crores and an Offer for Sale up to 9,133,454 Equity Shares.. Axis Capital, ICICI Securities, JM Financial, SBI Capital Markets have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 200 Crs and offer-for-sale (OFS) of up to 9,133,454 equity shares by Sunil Suresh, Shubha Sunil, Oman India Joint Investment Fund II, Kiran Bhanu Vuppalapati, Sridevi Venkata Vuppalapati who will offload up to 1,182,000 Equity Shares, up to 1,182,000 Equity Shares, up to 5,544,454 Equity Shares, up to 1,000,000 Equity Shares and up to 225,000 Equity Shares...

Objects of the issue:
1) Expenditure for opening the New Stores amounting to Rs. 90.12 cr. 2) Expenditure for opening the Anchor Stores amounting to Rs. 39.99 cr. , 3) Expenditure for renovation of the Existing Stores amounting to Rs10 cr. 4) Funding the capital expenditure requirements for purchase of new machinery and equipment by Company and Material Subsidiary, SOSL amounting to Rs. 8.18 cr., and 5) General corporate purposes.

Promoters of Stanley Lifestyles are Sunil Suresh and Shubha Sunil and holds 67.36% stake in the company.

About Company:
Bengaluru based Stanley Lifestyle is into furniture segment and is India’s largest super-premium and luxury furniture brand with a market share of 5.61% in terms of revenue in FY22. (Source: RedSeer Report). Company is among the few home-grown super-premium and luxury consumer brands in India operating at scale in terms of manufacturing as well as retail operations in FY22 (Source: RedSeer Report). Company is present across various price points, i.e., super-premium, luxury and ultra-luxury segment, through various brands.

About Industry:
The boom in the real estate market in India has enabled the furniture market in India to experience a high growth trajectory.In Fiscal 2021, the organised market accounted for 23% of the total furniture and home goods market, which increased to 26% by Fiscal 2023. Furthermore, by Fiscal 2027, the organised market is expected to contribute to 35% of the total market share, exhibiting an annual growth rate of 36%, which surpasses the growth rate of the traditional market.

Source: SEBI, BSE, NSE, DRHP, Stanley Lifestyles, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.