Stanley Lifestyles, which is a leading luxury furniture brand in India, has recently launched an IPO. It is opened for bidding and is valued at INR 537 crore and shall close today. It was available for subscription from June 21, 2024 to June 25, 2024. Stanley Lifestyles has set a fixed price band of INR 351-369 per share. The minimum application is 40 equity shares.
Analyst Recommendations
Various brokerage firms have recommended subscribing for Stanley Lifestyles’ IPO. It has no direct listed peers in the Indian market. It is seen as a strong investment opportunity due to its growth and recognition.
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SMIFS Limited say “Positive Outlook”
SMIFS Limited recommends subscribing to the IPO. According to them, Stanley Lifestyles has a potential for growth in the luxury segment. Its products are also extensive. SMIFS highlights Stanley’s strong industry growth rates and significant store expansions over recent years.
“Long-Term Investment” by Anand Rathi
Anand Rathi also advises a long-term subscription for this IPO. It highlighted Stanley’s scalability, brand recall and the positive industry growth. Anand Rathi also highlighted that Stanley Lifestyles is the fourth-largest home furniture player in India by revenue as of FY23.
Sushil Finance sees “Long-Term Potential”
Sushil Finance recommends long-term investment in this IPO. Stanley’s valuations are high but it also has strength to conquer the market. It is the fastest-growing brand in the luxury furniture segment. It has a strong focus on design-led innovation and skilled craftsmanship.
Mastertrust Broking suggests to go for “Listing Gains”
Mastertrust Broking suggests subscribing to this IPO just for listing gain. It is driven by anticipated residential demand. The brokerage notes that the company plans to increase its store count significantly over the next three years.
Anchor Investors and Grey Market Premium
Stanley Lifestyles has already secured INR 161.1 crore from 16 anchor investors. This includes prominent companies like SBI Mutual Fund and HDFC MF. As of June 21, 2024, Stanley’s shares having a premium of INR 165 in the grey market at 44.72% above the band price.
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Company Growth and Listing Information
Stanley Lifestyles has shown significant growth. From FY22 to FY23, there has been a 42.94% increase in revenue and a 50.64% rise in profit after tax. The IPO allotment is expected to be finalized on June 26, 2024. The listing of Stanley’s Lifestyle on the BSE and NSE is set to be on June 28, 2024.
Lead Managers
The book-running lead managers for this IPO are Axis Capital Limited, ICICI Securities Limited, JM Financial Limited, and SBI Capital Markets Limited. Kfin Technologies Limited is the registrar.
About the Author
Mr. Radhesh Tarang Shah, is a third-year management student at Institute of Management, Nirma University. He has a passion for writing articles and poems. He has experience as a financial analyst, author, news writer, marketer and social worker.
