Stanley Lifestyles IPO allotment today; here’s how to check it online

26/06/2024

The share allotment status for the initial public offering (IPO) of Stanley Lifestyles Ltd., a luxury furniture brand, is set to be finalised on Wednesday, June 26. The ₹537-crore IPO saw a strong investor response during the bidding between June 21 and June 25.

The public issue was subscribed over 96.98 times, with investors bidding for 99.32 crore equity shares against an offer size of 1.02 crore equity shares.

Investors are now eagerly awaiting the finalisation of the IPO share allotment status. Once completed, bidders can check the allotment status on the official website of the IPO registrar, Kfin Technologies, or through the NSE and BSE websites.

Stanley Lifestyles IPO shares are expected to be listed on both the BSE and NSE on June 28.

Steps to Check Stanley Lifestyles IPO Allotment Status On the BSE Website:

Visit BSE IPO Allotment Status

Select 'Equity' as the issue type

Choose 'Stanley Lifestyles' from the 'Issue Name' drop-down menu

Enter your IPO application number or PAN number

Click 'Search' to view your allotment details

On Registrar's Website:

Visit Kfin Technologies IPO Status

Select 'Stanley Lifestyles' from the drop-down menu

Choose one of the following options: PAN, Application number, DP/Client ID, or Account No/IFSC

Enter the required details to view your allotment status and details

Please note that allotment details can only be checked after the company finalises the share allocation status.

Ahead of the public subscription of the IPO, the company raised ₹161.1 crore from 16 anchor investors, including SBI Mutual Fund, Nippon Life India, HDFC MF, and Natixis International Funds.

IPO Details

Stanley Lifestyles IPO consists of a fresh issue of ₹200 crore and an offer for the sale of up to 9,130,000 shares worth ₹337 crore by existing shareholders.

Promoters Sunil Suresh and Shubha Sunil each offloaded 1.18 million shares in the OFS portion of the public issue, while investor Oman India Joint Investment Fund II divested 55.45 lakh shares.

Of the IPO proceeds, the company will allocate ₹90 crores for opening new stores by subsidiaries, ₹40 crores for opening anchor stores, and ₹10 crores for renovating existing stores. Additionally, ₹6.6 crores will be utilised for funding capital expenditure on new machinery and equipment and the remaining funds will be used for general corporate purposes.

The shares were priced between ₹351-361 each, with investors able to bid for a minimum of 40 equity shares per lot and multiples thereof.

Stanley Lifestyles Ltd is a super-premium and luxury furniture brand in India, recognised for its scale in manufacturing and retail operations.

The company's revenue increased by 42.94%, and profit after tax (PAT) rose by 50.64% between the financial years ending March 31, 2022, and March 31, 2023.

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