Stanley Lifestyles Secures Rs 161 Crore From Anchor Investors Ahead Of IPO
Domestic mutual funds collectively net 61.32% of Stanley Lifestyles' anchor portion.
Stanley Lifestyles Ltd. has raised Rs 161 crore from anchor investors ahead of its initial public offering on June 21.
The company allotted 43,66,051 shares at Rs 369 apiece to 16 anchor investors.
It included investors such as SBI Consumption Opportunities Funds, SBI Life Insurance Co., Bandhan Midcap Fund and Motilal Oswal Large Cap Fund, among others.
SBI Consumption Opportunities Funds secured the highest allocation of 15.90%, while Bandhan Midcap Fund and Motilal Oswal Large Cap Fund each netted 3.95%.
Seven domestic mutual funds applied through a total of eight schemes, the company said in an exchange filing. They have collectively netted 61.32% of the anchor portion of Rs 98.78 crore.
Investors who bid for the issue can follow the steps mentioned here to check the Stanley Lifestyles IPO allotment status, which will likely be finalised on Wednesday, June 26.
Business
Stanley Lifestyles provides car seat leather upholstery services for prominent global automotive brands before evolving into a luxury furniture retailer in India.
SLL sells its products under the "Stanley" brand and has built strong brand recognition and customer loyalty through the quality of its products, targeted marketing strategies, and advertising campaigns like "Beautiful Living," "Design Glamour," "Luxury Unlimited," and "Bed of Dreams". The company values its customers as brand ambassadors, generating publicity through testimonials, endorsements, and word-of-mouth advertising.
