June 28, 2024
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Stanley Lifestyles IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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- GMP
- Reviews
- Subscription
- Allotment
Stanley Lifestyles IPO Listing Review
On 28 July 2024, the scrip is listed at Rs 494.95, @ 34.13% premium over the issue price of Rs. 369. The listing has been quite below the expectations of the grey market players.
What are the promoters of Stanley Lifestyles IPO?
The Promoters of Stanley Lifestyles are SUNIL SURESH AND SHUBHA SUNIL
What are the Objects of Stanley Lifestyles IPO?
The Offer comprises the Fresh Issue of Equity Shares and an Offer for Sale.
The Company proposes to utilise the Net Proceeds towards funding of the following objects:
1. Expenditure for opening new stores under the formats of “Stanley Level Next”, “Stanley Boutique” and “Sofas & More by Stanley” (“New Stores”);
2. Expenditure for opening anchor stores (“Anchor Stores”);
3. Expenditure for renovation of existing stores under the formats of “Stanley Level Next”, “Stanley
Boutique” and “Sofas & More by Stanley” (“Existing Stores”);
4. Funding the capital expenditure requirements for purchase of new machinery and equipment by the
Company and the Material Subsidiary, SOSL; and
5. General corporate purpose
What is the business of Stanley Lifestyles?
Stanley Lifestyles is India’s largest super-premium and luxury furniture brand with a market share of 5.61% in terms of revenue in Fiscal 2022. It is also among the few home-grown super-premium and luxury consumer brands in India operating at scale in terms of manufacturing as well as retail operations. Further, it is the fourth largest player in the home furniture segment in India in terms of revenue in Fiscal 2022. It has the distinction of being among the first few Indian companies to venture into the super-premium and luxury furniture segment and one of the few Indian companies present across various price points, i.e., super-premium, luxury and ultra-luxury segment, through our various brands.
It retails its furniture products under the “Stanley” brand. Over the years, it has developed brand recognition and customer loyalty through its quality products, as well as targeted marketing strategies and advertisement campaigns such as “Beautiful Living”, “Design Glamour”, “Luxury Unlimited” and “Bed of Dreams”.
The Promoters commenced operations by providing car seat leather upholstery services for leading global automotive brands and subsequently transitioned to retailing luxury furniture in India. Leveraging the experience of its Promoters in offering luxury leather upholstery, it opened its first retail store in Bengaluru, Karnataka in 2011. Over the years, it has transitioned from a sales driven model towards design led operations and has transformed into a comprehensive provider of home solutions.
Over the years, it has transformed into a comprehensive provider of home solutions and is the only super-premium and luxury Indian brand that provide a wide range of home solutions offerings, such as sofas, armchairs, kitchen cabinets, beds, mattresses and pillows, amongst others.
As of June 30, 2023, the total number of craftsmen associated with its new product development division were 61. It markets and sells its products through its network of stores. Over the years, it has significantly expanded its network of stores and as of June 30, 2023, it operated 34 ‘company owned, and company operated’ or “COCO” stores all located in the major metro cities of Bengaluru, Chennai, New Delhi, Mumbai and Hyderabad and 21 ‘franchisee-owned and franchisee-operated’ or
“FOFO” stores in 22 cities across nine States and Union Territories in India.
For more information, click www.stanleylifestyles.com
Stanley Lifestyles IPO GMP, Particulars & Guidance
| Stanley Lifestyles IPO Details | |
| IPO opens on | 21 June, 2024 |
| IPO closes on | 25 June, 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 14553508 Sh /Rs 537.02 Cr |
| * Fresh Issue | 5420054 Sh /Rs 200 Cr |
| * Offer for Sale | 9,133,454 Sh /Rs 337.02 Cr |
| Face Value per share: | Rs. 2 |
| Price Band | Rs. 351-369 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 40 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Stanley Lifestyles? | Shares | Rs. in Cr |
| QIB (50 %) | 7276754 | 268.51 |
| NII (15 %) | 2183026 | 80.55 |
| RII (35 %) | 5093728 | 187.96 |
| Employees | – | – |
| Total Shares | 14553508 | 537.02 |
| Retail portion will be oversubscribed by | 127343 Forms. | |
| How to apply in Stanley Lifestyles IPO ? | Amount Rs. | |
| Min Retail Application | 40 Sh | 14760 |
| Max Retail Application | 520 Sh | 191880 |
| Small HNI (Min) application | 560 Sh | 206640 |
| Small HNI (Max) application | 2680 Sh | 988920 |
| Big HNI Application | 2720 Sh | 1003680 |
| What is the timetable of Stanley Lifestyles IPO? | |
| IPO opens on | 21 June 2024 |
| IPO Closes on | 25 June 2024 |
| IPO Allotment on | 26 June 2024 |
| Unblocking of ASBA | 27 June 2024 |
| Credit of Shares | 27 June 2024 |
| Listing on | 28 June 2024 |
| Registered Office of Stanley Lifestyles | |
| SY No. 16/2 and 16/3 Part, Hosur Road, Veerasandra Village, Attibele Hobli, Anekal Taluk, Bengaluru, Karnataka 560 100, India |
|
| Who are the Lead Managers of Stanley Lifestyles IPO? Axis Capital Limited ICICI Securities Limited JM Financial Limited SBI Capital Markets Limited |
|
| Registrar to IPO | |
| KFin Technologies Limited |
| Stanley Lifestyles IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 201.71 | 1.92 | 0.20 | 0.56 |
| 2021-22 | 297.76 | 23.22 | 4.14 | 10.69 |
| 2022-23 | 425.62 | 32.88 | 6.37 | 15.18 |
| Book Value of the Share on 31.03.2023 | Rs. | 41.96 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 369 | ||
| Stanley Lifestyles IPO Ratio Analysis |
|
| Price /EPS | 57.92 |
| Price/Book Value Ratio | 8.79 |
| Price/BV after IPO | ? |
Stanley Lifestyles IPO compares with the Peers?
Peer Comparison.
There are no listed companies in India and globally that engage in a business that is similar to that of this Company. Accordingly, we have not provided an industry comparison in relation to this Company.
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Stanley Lifestyles IPO Guidance
Stanley Lifestyles is India’s largest super-premium and luxury furniture brand with a market share of 5.61% in terms of revenue in Fiscal 2022. It is also among the few home-grown super-premium and luxury consumer brands in India operating at scale in terms of manufacturing as well as retail operations. Further, it is the fourth largest player in the home furniture segment in India in terms of revenue in Fiscal 2022.
Size: The size of the IPO, Rs. 537 crore is not very large and the retail portion is Rs. 187 crore. With 127343 applications, retail portion can get one time subscribed. So oversubscription is not an issue.
Financials: Barring 2020-21, which was Covid affected year, the company has earned impressive profits. The shares at upper price band are offered at PE multiple of 57.92, which leaves very small room for listing gains. The company has severe competition from furniture imported from China and Vietnam. At the time same the sharp growth in the residential real-estate, the demand for quality furniture is increasing. Being small IPO, the chances of allotment are low. Apply with small listing gains.
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