Stanley Lifestyles has announced that it has mobilized approximately Rs 161 crore from anchor investors ahead of its IPO. The company has alloted 43.66 lakh equity shares to 16 marquee funds at a price of Rs 369 per share, thereby making total transaction size at Rs 161.1 crore.
Some marquee names in the list of anchor investors are SBI Mutual Fund, Nippon India Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Quant Mutual Fund, Motilal Oswal Mutual Fund, Bandhan Mutual Fund, SBI Life Insurance Company, and Max Life Insurance Company. The information has been cleaned from a circular issued on the website of BSE.
The Stanley Lifestyles IPO is going to open for public subscription from June 21 to June 25 in the price band of Rs 351 to Rs 369 per share. This Rs 537-crore IPO comprises a fresh issuance of equity shares aggregating Rs 200 crore and an offer-for-sale of 91.33 lakh equity shares. It would also mobilize Rs 337 crore at the higher end of the price band by the existing shareholders.
Out of the fresh issue, Rs 90.13 crore would be used for opening new stores, launching anchor stores for the retail business, and renovation of existing stores. The proceeds of Rs 8.18 crore would be used towards funding capital expenditure for the acquisition of new machinery and equipment for SOSL, material subsidiary engaged in the business of manufacture of sofas, general corporate purpose, etc.
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