Stanley Lifestyles to Acquire 44.05% Shares in Shrasta Décor Private Limited for INR 181.5/- Million

Stanley Lifestyles Ltd. has announced its intention to acquire 44.05% shares in Shrasta Décor Private Limited (SDPL), a step-down subsidiary of the company, for a consideration of INR 181.5/- Million. This acquisition will make SDPL a wholly owned subsidiary of Stanley Retail Limited (SRL), a material wholly owned subsidiary of Stanley Lifestyles Ltd. The acquisition is expected to be completed for cash consideration, with the shares being acquired at arm's length. SDPL is engaged in the business of processors, importers, exporters, sellers, stockists, dealers, commission agents for leather hides and skins, adhesives, leather furniture, office chairs, office systems, glass and crystals, kitchen items, carpets, ceramic items, tables and accessories, and formulations of all kinds of leather goods such as industrial and textile leather goods, sports goods, fancy leather articles, etc. The acquisition is not expected to have any significant impact on the financials of Stanley Lifestyles Ltd.