Stanley Lifestyles Raises Rs 161 Crore Ahead of IPO

Luxury furniture brand Stanley Lifestyles raised over Rs 161 crore from anchor investors before its IPO. Investors include SBI Mutual Fund and HDFC MF. The IPO, priced between Rs 351 and Rs 369 per share, will open on June 21. Proceeds will fund store openings, renovations, and new machinery.

Luxury furniture brand Stanley Lifestyles announced on Thursday that it successfully garnered over Rs 161 crore from anchor investors, just a day before its initial share-sale.

The allocated shareholders include prestigious names like SBI Mutual Fund, HDFC Mutual Fund, and Max Life Insurance Company, among others, according to a circular on BSE's website.

Stanley Lifestyles decided to allot 43.66 lakh equity shares to 16 funds at Rs 369 each, taking the total transaction size to Rs 161.1 crore. The Rs 537-crore initial public offering (IPO) will be open for public subscription from June 21 to June 25, with a price band of Rs 351 to Rs 369 per share.

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