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News Details

14/06/2024 17:11

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Stanley Lifestyles announces launch of initial public offering

Stanley Lifestyles Ltd. has announced public offering of 14553508 shares at a price of Rs 2.00 each for Cash at a Premium of Rs 367.00 per share. The gross proceeds of the issue are expected to be Rs 53,702.44 lakhs.

The company's initial public offer (IPO) will open on 21 June 2024 and is expected to close on 25 June 2024, subject to customary closing conditions. The price band of the issue has been fixed at Rs 351.00-369.00 per share.

The IPO includes a fresh Issue of 14553508 Equity Shares of the Company at an price of Rs 369.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 40 shares with bids in multiples of 40.

Stanley Lifestyles Ltd. anticipates using the proceeds of the issue for aOpening of the New Stores by such SubsidiariesbOpening the Anchor Stores by such SubsidiariescRenovation of the Existing Stores by such SubsidiariesFunding the capital expenditure requirements for purchase of new machinery and equipment by our Company and our Material Subsidiary, Stanley OEM Sofas LimitedGeneral corporate purposes.

ICICI SECURITIES LTD,Axis Capital Ltd.,JM Financial Institutional Securities Limited.,SBI Capital Markets Ltd. as lead manager(s) & KFin Technologies Ltd. is the registrar, to the issue.