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Milestone Furniture IPO is a fixed price issue of ₹14.84 crores. The issue is entirely a fresh issue of 0.33 crore shares of ₹14.84 crore.
Milestone Furniture IPO bidding started from May 7, 2018 and ended on May 11, 2018. The allotment for Milestone Furniture IPO was finalized on May 16, 2018. The shares got listed on BSE SME on May 21, 2018.
Milestone Furniture IPO price is ₹45.00 per share . The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,35,000 (3000 shares). The minimum lot size investment for HNI is 2 lots (6,000 shares), amounting to ₹2,70,000.
Monarch Networth Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is Monarch Networth Capital Ltd..
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 |
| Issue Price Band | |
| Issue Price Final | ₹45 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 32,97,000 shares (aggregating up to ₹14.84 Cr) |
| Reserved for Market Maker | 1,65,000 shares Monarch Networth Capital Ltd. (aggregating up to ₹0.7425 Cr) |
| Net Offered to Public | 31,32,000 shares (aggregating up to ₹14.09 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 60,00,000 shares |
| Share Holding Post Issue | 92,97,000 shares |
Milestone Furniture IPO offers total 32,97,000 shares. Out of which 15,66,000 (47.50%) allocated to NII, 15,66,000 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,65,000 (5.00%) |
| NII (HNI) Shares Offered | 15,66,000 (47.50%) |
| Retail Shares Offered | 15,66,000 (47.50%) |
| Total Shares Offered | 32,97,000 (100.00%) |
Milestone Furniture IPO opens on May 7, 2018, and closes on May 11, 2018.
| IPO Open Date | Mon, May 7, 2018 |
| IPO Close Date | Fri, May 11, 2018 |
| Tentative Allotment | Wed, May 16, 2018 |
| Initiation of Refunds | Thu, May 17, 2018 |
| Credit of Shares to Demat | Fri, May 18, 2018 |
| Tentative Listing Date | Mon, May 21, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, May 11, 2018 |
Investors can bid for a minimum of 3,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,35,000 |
| Retail (Max) | 1 | 3,000 | ₹1,35,000 |
| HNI (Min) | 2 | 6,000 | ₹2,70,000 |
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 Company Milestone Furniture IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | To set up the manufacturing facility to manufacture the modular and innovative furniture | 9.82 |
| 2 | Working Capital Requirement | 3.50 |
| 3 | General Corporate Expenses | 1.76 |
[Dilip Davda] <p>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.</p> Read detail review...
| Listing Date | May 21, 2018 |
| BSE Script Code | 541337 |
| NSE Symbol | |
| ISIN | INE424Z01011 |
| Final Issue Price | ₹45 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹45.00 |
| Open | ₹45.00 |
| Low | ₹42.75 |
| High | ₹45.45 |
| Last Trade | ₹44.45 |
Milestone Furniture Ltd.
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 Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Milestone Furniture IPO is a SME IPO of 32,97,000 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.
The IPO opens on May 7, 2018, and closes on May 11, 2018.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Milestone Furniture IPO using UPI as a payment gateway. Zerodha customers can apply in Milestone Furniture IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Milestone Furniture IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Milestone Furniture IPO opens on May 7, 2018 and closes on May 11, 2018.
Milestone Furniture IPO lot size is 3000, and the minimum amount required for application is ₹1,35,000.
You can apply in Milestone Furniture IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Milestone Furniture IPO listing date is on Monday, May 21, 2018.
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