The price band of the initial public offering (IPO) of integrated luxury manufacturer Stanley Lifestyles Ltd has been finalised. The company has fixed its price band in the range of ₹351 to ₹369 for each equity share with a face value of ₹2. The Stanley IPO bidding (subscription) will start on June 21 and will close on Tuesday, June 25. Allotment to anchor investors for the Stanley Lifestyles IPO will be done on June 20. According to a Livemint report, the floor price is 175.50 times the face value of the equity shares and the cap price is 184.50 times the face value of the equity shares.
You can bid for at least this many shares
According to the news, bids can be made for a minimum of 40 equity shares in this IPO and in multiples of 40 equity shares thereafter. According to the RedSeer report, Stanley Lifestyle is a super-premium and luxury furniture brand in India. In terms of revenue, the company is the fourth largest company in India’s home furnishings category for FY 2023. Stanley IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIBs), not less than 15% for non-qualified institutional investors (NIIs), and not less than 35% of the offer for retail investors.
when will the allotment come
Allotment of Stanley Lifestyles IPO shares will be finalised on June 26. The company will initiate refunds on June 27, while the shares will be credited to the allottee’s demat account on the same day after refund. Stanley Lifestyles shares are expected to be listed on BSE and NSE on June 28. The Stanley Lifestyles IPO comprises a fresh issue of ₹200 crore and an offer for sale (OFS) of up to 9,133,454 equity shares by promoters and shareholders.
The report said that the promoter selling shareholders in the OFS are Sunil Suresh and Shubha Sunil who will sell 1,182,000 equity shares each. Secondly, the selling shareholders are Oman India Joint Investment Fund II (5,544,454 equity shares), Kiran Bhanu Vuppalapat (1,000,000 equity shares) and Sridevi Venkat Vuppalapat (225,000 equity shares).
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