Stanley Lifestyles, a furniture & home decor retailer, is planning to launch Rs 700 crore IPO

13 Jan 2023 , 09:18 AM

The Bangalore-based furniture and home-décor retailer company Stanley Lifestyles, is planning an IPO worth Rs 600-700 crore, as per the report of the Economic Times. The company is in talks with ICICI Securities and JM Financial to manage the initial public offer. 

As per the report, the company will use the funds from fresh issue to expand the business across country and start operations overseas.

Earlier to this, in 2018, Oman India Joint Investment Fund had invested $24 million or ₹170 crore in the company for a 26% stake. This deal was company’s first round PE funding.

It has three factories in Bengaluru and Mysuru, which operates retail chain Stanley Boutique, makes high-end leather and wood furniture. It also undertakes contract manufacturing for Ikea and La-Z-Boy and makes leather accessories for auto companies, including Toyota, Ford, Renault, and Nissan.