Stanley Lifestyles IPO Sees Strong Demand, Oversubscribed 1.43 Times on Day One

Luxury furniture brand Stanley Lifestyles' IPO was oversubscribed 1.43 times on its first day. The IPO includes a fresh issue of Rs 200 crore and an offer for sale of 91,33,454 equity shares. Funds raised will be used for store openings, renovations, and machinery purchases.

The initial public offering (IPO) of luxury furniture brand Stanley Lifestyles experienced robust investor interest, achieving an oversubscription rate of 1.43 times on the first day of its launch on Friday.

According to NSE data, the IPO received bids for 1,46,69,560 shares against 1,02,41,507 shares available. Non-institutional investor interest was particularly high, with a 2.01 times subscription rate, while the retail individual investor (RII) quota saw a 1.80 times subscription. Qualified institutional buyers (QIBs) accounted for 30 per cent of the subscriptions.

The IPO, valued at Rs 537 crore, comprises a fresh issue worth up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares. The price per share has been set between Rs 351 and Rs 369. Stanley Lifestyles raised over Rs 161 crore from anchor investors on Thursday and the IPO will close on June 25.

The net proceeds from the fresh issue—amounting to about Rs 90.13 crore—will be allocated to opening new stores, with Rs 39.99 crore designated for new anchor stores and Rs 10.04 crore for renovating existing ones. An additional Rs 8.18 crore will fund capital expenditures for new machinery and equipment needed by the company and its subsidiary, SOSL (Stanley OEM Sofas Ltd).

Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets act as book-running lead managers for the offering. Stanley Lifestyles, headquartered in Bengaluru, operates two manufacturing facilities in the city and markets various luxury categories, including super-premium, luxury, and ultra-luxury through multiple brands. The equity shares will be listed on the BSE and NSE.

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