Stanley Lifestyles IPO Subscribed 5.22 Times as Bidding Phase Progresses

The ongoing initial public offering (IPO) by Stanley Lifestyles has garnered significant interest from investors, with subscription levels reaching 5.22 times the available shares as of the latest data.

The IPO, which commenced on June 21, 2024, and is set to conclude on June 25, 2024, has witnessed robust demand, reflecting confidence in the luxury furniture brand’s potential.

Founded by Sunil Suresh and Subha Sunil, Stanley Lifestyles is renowned for its super-premium home solutions and luxury furniture offerings in India.

The company’s IPO includes both a fresh issue of equity shares and an offer for sale, totaling up to Rs 200 crore and 91.33 lakh equity shares, respectively.

Proceeds from the IPO are earmarked for various strategic initiatives, including investment in subsidiaries, store expansions, and renovation projects.

Stanley Lifestyles has outlined ambitious plans for expansion, aiming to open 24 new stores across key regions such as Delhi, Tamil Nadu, Telangana, Maharashtra, and Karnataka in the next three years.

Additionally, the company intends to enhance its product offerings and strengthen its presence in the market, particularly through its OEM Sofas segment.

Prior to the IPO launch, Stanley Lifestyles successfully mobilized Rs 161.10 crore from anchor investors, showcasing strong pre-listing investor confidence in the brand’s growth trajectory.

Financially, the company posted a net profit of Rs 19.78 crore and registered sales of Rs 313.31 crore for the nine-month period ending on December 31, 2023.

The successful subscription rates for the Stanley Lifestyles IPO underscore the positive market sentiment towards the brand and its future expansion prospects.