The initial public offering (IPO) of luxury furniture maker Stanley Lifestyles has been subscribed 9.64 times as of the third day of bidding. The IPO closes today.
Subscription Details
- Non-Institutional Investors (NIIs): Subscribed over 22 times.
- Retail Investors: Subscribed over 8 times.
- Qualified Institutional Buyers (QIBs): Subscribed 1.6 times.
Use of Funds
The money raised from the IPO will be used to open new stores, establish anchor stores, and renovate existing ones.
Allocation Breakdown
- QIBs: 50%
- Retail Investors: 35%
- NIIs: 15%
Stanley Lifestyles GMP
In the grey market, Stanley Lifestyles shares are trading at a premium of nearly 45% over the issue price of ₹369 per share.
Stanley Lifestyles IPO Review
Analysts are generally positive about the IPO, recommending investors subscribe due to the company’s strong brand presence, industry growth, and potential for business expansion.
- Anand Rathi: “Stanley Lifestyles is a leading luxury furniture brand in India. We recommend a ‘Subscribe for long-term’ rating.”
- Choice Broking (Rajnath Yadav): “The IPO is priced at a P/E multiple of 60.2x based on FY23 EPS of ₹6.1, which seems high given the company’s financial performance. We recommend a ‘Subscribe with Caution’ rating.”
Company Background
Stanley Lifestyles is known for its luxury furniture, including sofas, armchairs, kitchen cabinets, beds, mattresses, and pillows, sold under the Stanley brand.
Financial Performance
- FY23 Revenue: ₹69.51 crore, up from ₹67.44 crore in FY22.
- FY23 Profit After Tax: ₹15.80 crore, up from ₹4.12 crore in FY22.
IPO Management
Axis Capital, ICICI Securities, JM Financial, and SBI Capital Markets are the lead managers for the IPO, with Kfin Technologies serving as the registrar.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
