Mumbai: Stanley Lifestyles, a Bangalore-based furniture and home decor retailer, is planning an IPO worth ₹600-700 crore, said a person with direct knowledge of the matter. The IPO will be a mix of fresh issue of shares and sale by existing shareholders. The company is in talks with and for the public issue. The funds from the fresh issue will be used to expand across the country and start operations overseas, said the person in the know.
The company, ICICI Securities and JM Financial, did not respond to ET’s queries. In 2018, Oman India Joint Investment Fund invested $24 million or ₹170 crore in the company for a 26% stake.
The deal was the company’s first round of PE funding. With three factories in Bengaluru and Mysuru, the company, 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.