Stanley Lifestyles IPO: Furniture Maker Nets ₹161 Crore from Anchor Investors Ahead of Public Launch

Bengaluru: Furniture manufacturer Stanley Lifestyles raised over ₹161.10 crore from anchor investors on Thursday, just ahead of its initial public offering (IPO), which opens to the public on Friday, 21 June.

According to stock exchange filings, the company allocated 43,66,051 shares at ₹369 each to these anchor investors on 20 June.

Key Investors: The anchor allocation saw participation from various foreign and domestic institutions, including:

• Mutual Funds: SBI MF, Nippon MF, HDFC MF, Quant MF, Bandhan MF, Motilal Oswal MF
• Life Insurance Companies: SBI Life Insurance, Max Life, Aditya Birla SunLife Insurance
• Others: East Spring Investment India, Loomis and Sayles, Optimix Wholesale Global Emerging Markets Share Trust, Franklin India Opportunities Fund, Meru Investment Fund

Out of the total shares allocated to anchor investors, 26,77,080 shares went to seven domestic mutual funds across eight schemes, amounting to about ₹98.78 crore, making up 61.32% of the anchor book size.

IPO Details

Stanley Lifestyles aims to raise ₹537 crore through this IPO:

• Fresh Issue: ₹200 crore
• Offer-for-Sale (OFS): 91.33 lakh shares worth ₹337.02 crore by current shareholders, including promoters Sunil Suresh and Shubha Sunil.

Price Band and Subscription

• Price Range: ₹351-369 per share
• Subscription Period: 21 June to 25 June
• Bid Requirements: Minimum of 40 shares, with additional bids in multiples of 40 shares

The IPO follows a book-building process, with allocations as follows:

• Qualified Institutional Buyers: Up to 50%
• Non-Institutional Bidders: At least 15%
• Retail Investors: At least 35%