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Milestone Furniture IPO is a fixed price issue of Rs 14.84 crores.
Milestone Furniture IPO bidding started from May 7, 2018 and ended on May 11, 2018. The allotment for Milestone Furniture IPO was finalized on Wednesday, May 16, 2018. The shares got listed on BSE SME on May 21, 2018.
Milestone Furniture IPO price is ₹45 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹135,000.
Monarch Networth Capital Ltd is the book running lead manager of the Milestone Furniture IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Milestone Furniture IPO RHP for detailed information.
| IPO Date | May 7, 2018 to May 11, 2018 |
| Listing Date | May 21, 2018 |
| Face Value | ₹10 per share |
| Price | ₹45 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 3,297,000 shares (aggregating up to ₹14.84 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 6,000,000 |
| Share holding post issue | 9,297,000 |
| Market Maker portion | 165,000 shares |
Milestone Furniture IPO offers 3,462,000 shares. 1,566,000 (45.23%) to NII, 1,566,000 (45.23%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 165,000 (4.77%) |
| Other Shares Offered | 1,566,000 (45.23%) |
| Retail Shares Offered | 1,566,000 (45.23%) | Other Shares Offered | 165,000 (4.77%) |
| Total Shares Offered | 3,462,000 (100%) |
Milestone Furniture IPO opens on May 7, 2018, and closes on May 11, 2018.
| IPO Open Date | Monday, May 7, 2018 |
| IPO Close Date | Friday, May 11, 2018 |
| Basis of Allotment | Wednesday, May 16, 2018 |
| Initiation of Refunds | Thursday, May 17, 2018 |
| Credit of Shares to Demat | Friday, May 18, 2018 |
| Listing Date | Monday, May 21, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 11, 2018 |
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹135,000 |
| Retail (Max) | 1 | 3000 | ₹135,000 |
| Lot Size Calculator | |||
Incorporated in 2014, Mumbai based Milestone Furniture Limited is engaged in the manufacturing and marketing of Interior and Modular Furniture business.
The company has developed expertise in Space & workstation Management, designing and innovation in Furniture used in Education, Healthcare and Corporate organization. It also
developed the In-house technical & Design team to provide turnkey solutions and implementation of interior and workspace in Commercial, Residential and Institutions. It has developed an In-house team of professionals for design, drawing, and space management interiors suitable and specification of client needs.
Milestone has a high tech manufacturing equipment and Design facility to manufacture the various combination and size products in Sakinaka, Mumbai. The Company currently has 70 employees on its payroll.
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |||
| Total Assets | 53,160,563 | 23,014,900 | 21,710,118 | 8,257,681 | ||
| Total Revenue | 89,467,999 | 55,175,651 | 33,229,409 | 3,787,759 | ||
| Profit After Tax | 3,247,677 | 1,989,136 | 542,472 | 343,186 | ||
The Objects of the Issue are:
1. To set up the manufacturing facility to manufacture the modular and innovative furniture
2. Working Capital Requirement
3. General Corporate Expenses; and
4. To meet the expenses of the Issue
[Dilip Davda]
Company’s financial data is really confusing and latest working is a bit surprising. Better options are available in the secondary market at lower P/Es. There is no harm in giving this issue a miss.
Read detail review...The Milestone Furniture IPO is subscribed 2.13 times on May 10, 2018 5:00:00 PM. The public issue subscribed 3.45 times in the retail category, times in the QIB category, and 0.82 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 0.82 |
| Retail | 3.45 |
| Total | 2.13 |
| Listing Date | May 21, 2018 |
| BSE Script Code | 541337 |
| NSE Symbol | |
| ISIN | INE424Z01011 |
| Final Issue Price | ₹45 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹45.00 |
| ₹45.00 |
| ₹42.75 |
| ₹45.45 |
| ₹44.45 |
Milestone Furniture Limited
1 st Floor, Aslam Compound Shree Nagar,
Behind Boghul House, Chandivali Road
Sakinaka, Mumbai, Maharashtra - 400072
Phone: 022- 28581499 / 28578954
Email: admin@milestonefurniture.com
Website: http://www.milestonegroup.asia
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
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Milestone Furniture IPO is a SME IPO of 3,297,000 equity shares of the face value of ₹10 aggregating up to ₹14.84 Crores. The issue is priced at ₹45 per share. The minimum order quantity is 3000 Shares.
The IPO opens on May 7, 2018, and closes on May 11, 2018.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
The Milestone Furniture IPO opens on May 7, 2018 and closes on May 11, 2018.
Milestone Furniture IPO lot size is 3000 Shares, and the minimum amount required is ₹135,000.
You can apply in Milestone Furniture IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Milestone Furniture IPO will be done on Wednesday, May 16, 2018, and the allotted shares will be credited to your demat account by Friday, May 18, 2018. Check the Milestone Furniture IPO allotment status.
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IPO Guru (1400+ Posts, 1200+ Likes)
IPOANALYSIS| Link | Bookmark |May 14, 2018 11:59:55 AM