• Source:JND
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Stanley Lifestyles' IPO:  The luxury furniture brand Stanley Lifestyles' initial public offering received 96.25 times bids on the final day of subscriptions i.e. Tuesday. As per National Stock Exchange data, the IPO worth Rs 537 crore received bids for 98,56,97,520 shares against 1,02,41,507 offered shares. The share of eligible institutional buyers was 222.10 times, while the share of non-institutional investors was 118.65 times. The share of individual retail investors (RIIs) attracted 18.13 times the subscription.

Stanley Lifestyles' IPO consists of a fresh issue of up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares. The initial selling price of the shares ranges between Rs 351-369 per share.

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Stanley Lifestyles' IPO was subscribed 1.43 times on the first day of subscriptions on Friday. Earlier, Stanley Lifestyles said on Thursday that it has raised over Rs 161 crore through anchor investors. Net proceeds from the new issue of Rs 90.13 crore will be used by the company to meet expenses for opening new stores, Rs 39.99 crore expenses for opening flagship stores, and Rs 10.04 crore expenses for renovation of existing stores.

Funds amounting to Rs 8.18 lakh crore to fund capital expenditure requirements for procurement of new machinery and equipment by the company and its physical subsidiary, SOSL (Stanley OEM Sofas Ltd), and for general corporate purposes.

JM Financial, ICICI Securities, Axis Capital, and SBI Capital Markets are the lead book-running managers for the offering. Bengaluru-based Stanley Lifestyles is among the few Indian companies that operate in various price segments, including ultra-premium, luxury, and ultra-luxury, through its multiple brands. The company has two manufacturing facilities in Bengaluru. The shares of Stanley Lifestyle will be listed on the BSE and NSE.

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(With PTI's Input)