2024-06-17 02:55:35
Mumbai: Luxurious furnishings model retailer Stanley Life is getting ready to boost cash from the capital market. Its IPO is coming subsequent week on June 21. Traders will be capable of bid in it until June 25, 2024. The corporate additionally introduced the value band of the IPO immediately. The worth band of 1 share with a face worth of Rs 2 has been fastened at Rs 351 to Rs 369. 40 shares have been stored in a single lot.
What are the small print of IPO
The corporate intends to boost Rs 537 crore from the first market by this IPO providing. The corporate’s shares will probably be listed on NSE and BSE. This IPO consists of a recent subject of as much as Rs 200 crore and a suggestion on the market (OFS) of 91.34 lakh fairness shares. Sunil Suresh, Shubha Suresh, Oman India Joint Funding Fund II, Kiran Bhanu Vuppalapati and Sridevi Venkat Vuppalapati will promote their stake within the OFS.
What is going to occur to the cash raised from IPO
In accordance with the RHP doc, the corporate will use the online proceeds from the IPO to open new shops, anchor shops and renovate present shops. It’ll even be used to finance capital expenditure necessities for the corporate and its buy of latest equipment and gear.
What number of shares are reserved
The corporate has reserved as much as 50% of the shares for QIBs (certified institutional patrons) whereas the non-institutional portion is not going to be lower than 15%. The remaining 35% is reserved for retail traders.
Who’re the Lead Managers?
Axis Capital, ICICI Securities, JM Monetary and SBI Capital Markets have been appointed as e book working lead managers for this IPO. The registrar to this subject is KFin Applied sciences Restricted.
What number of shops does the corporate have
As on 31 December 2023, the corporate had 38 “COCO” shops. Which means that these shops are usually not solely owned by the corporate, however are additionally operated by the corporate. These shops are in metro cities like Bengaluru, Chennai, New Delhi, Mumbai and Hyderabad. Together with this, the corporate has 21 shops in 11 cities working on the franchise owned franchise operated mannequin.