Fixed Price IPO | ₹15 Cr | Listed at BSE SME | Mon, May 7, 2018 - Fri, May 11, 2018
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Mon, May 7, 2018
IPO Close
Fri, May 11, 2018
Issue Price
₹45 per share
Market Cap (Pre-IPO)
₹41.84 Cr
| IPO Date | 7 to 11 May, 2018 |
| Listed on | Mon, May 21, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹45 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 32,97,000 shares (agg. up to ₹15 Cr) |
| Reserved for Market Maker | 1,65,000 shares Monarch Networth Capital Ltd. (agg. up to ₹0.7425 Cr) |
| Fresh Issue (Ex Market Maker) | 31,32,000 shares (agg. up to ₹14 Cr) |
| Net Offered to Public | 31,32,000 shares (agg. up to ₹14 Cr) |
| Share Holding Pre Issue | 60,00,000 shares |
| Share Holding Post Issue | 92,97,000 shares |
| BSE Script Code | 541337 |
| ISIN | INE424Z01011 |
Milestone Furniture IPO comprises a total issue size of 32,97,000 shares. The net offer to the public is 31,32,000 shares, after excluding 1,65,000 shares allotted on a firm basis. Of the Net offer 15,66,000 (50.00%) allocated to NII 15,66,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 15,66,000 | 50.00% | 47.50% |
| Retail Shares Offered | 15,66,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,65,000 | 5.00% | |
| Total Shares Offered | 32,97,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
The Milestone Furniture IPO is subscribed 2.13 times on May 10, 2018 5:00:00 PM (Day 4). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 0.82 | 15,66,000 | 12,81,000 |
| Retail | 3.45 | 15,66,000 | 54,03,000 |
| Total | 2.13 | 31,32,000 | 66,84,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to Merchant Banker , Registrar Fees, Legal Fees & Misc. Expenditure Brokerage & Selling Commission | 0.35 |
| 2 | Printing and Stationery Expenses, Advertising and Marketing Expenses Statutory Expenses etc. | 0.15 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹45.00 |
| Open | ₹45.00 |
| Low | ₹42.75 |
| High | ₹45.45 |
| Last Trade | ₹44.45 |
Lead Manager Reports
Milestone Furniture IPO is a SME IPO of 32,97,000 equity shares of the face value of ₹10 aggregating up to ₹15 Crores. The issue is priced at ₹45 per share. The minimum order quantity is 3000.
The IPO opens on Mon, May 7, 2018, and closes on Fri, 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 Mon, May 7, 2018 and closes on Fri, 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 Fri, May 18, 2018. Check the Milestone Furniture IPO allotment status.
The Milestone Furniture IPO listing date is on Mon, May 21, 2018.
