Fixed Price IPO | ₹14 Cr | Listed at NSE SME | Fri, Sep 29, 2017 - Fri, Oct 6, 2017
Milton Industries IPO is a fixed price issue of ₹14.28 crores. The issue is entirely a fresh issue of 0.42 crore shares of ₹14.28 crore.
Milton Industries IPO bidding started from Sep 29, 2017 and ended on Oct 6, 2017. The shares got listed on NSE SME on Oct 16, 2017.
Milton Industries IPO price is ₹34 per share. The lot size for an application is 4,000. The minimum amount of investment required by an individual investor (retail) is ₹1,36,000 (4000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (8,000 shares), amounting to ₹2,72,000.
Swastika Investmart Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Beeline Broking Ltd..
Refer to Milton Industries IPO RHP for detailed Information.
IPO Open
Fri, Sep 29, 2017
IPO Close
Fri, Oct 6, 2017
Issue Price
₹34 per share
Market Cap (Pre-IPO)
₹52.53 Cr
| IPO Date | 29 Sep to 6 Oct, 2017 |
| Listed on | Mon, Oct 16, 2017 |
| Face Value | ₹10 per share |
| Issue Price | ₹34 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 42,00,000 shares (agg. up to ₹14 Cr) |
| Reserved for Market Maker | 2,16,000 shares Beeline Broking Ltd. (agg. up to ₹0.7344 Cr) |
| Fresh Issue (Ex Market Maker) | 39,84,000 shares (agg. up to ₹14 Cr) |
| Net Offered to Public | 39,84,000 shares (agg. up to ₹14 Cr) |
| Share Holding Pre Issue | 1,12,50,000 shares |
| Share Holding Post Issue | 1,54,50,000 shares |
| NSE Symbol | MILTON |
| ISIN | INE376Y01016 |
Milton Industries IPO comprises a total issue size of 42,00,000 shares. The net offer to the public is 39,84,000 shares, after excluding 2,16,000 shares allotted on a firm basis. Of the Net offer 19,92,000 (50.00%) allocated to NII 19,92,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 19,92,000 | 50.00% | 47.43% |
| Retail Shares Offered | 19,92,000 | 50.00% | 47.43% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,16,000 | 5.14% | |
| Total Shares Offered | 42,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 4,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4,000 | ₹1,36,000 |
| Retail (Max) | 1 | 4,000 | ₹1,36,000 |
| HNI (Min) | 2 | 8,000 | ₹2,72,000 |
Incorporated in 1985, Milton Industries Limited is Ahmedabad Gujrat based manufacturer and exporter of Laminates, Artificial Leather cloth and Glass Fibre Reinforced Epoxy (GFRE) Sheets.
The laminates produced by the company are used on walls, doors, windows, cupboards, tabletops, hotels, cash counters, home kitchen, etc.
PVC Coated Fabrics produced by the company are sold to Government Agencies, such as Indian Railways, State Transport Corporation of Different States and also exported to different countries.
Milton Industries has two manufacturing units in Mehsana and Sabarkantha, both located in Gujrat. The development process includes design, development, testing, manufacturing and delivery of the products.
Strengths of Milton Industries:
1. Cost efficient manufacturing and supply chain management
2. The location of manufacturing facilities gives a significant competitive cost advantage in terms of raw material sourcing, manufacturing and labour costs.
3. Our Promoter has around 32 years of experience in the industry.
4. Presence in many countries
5. Extensive distribution network
| 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 Meet Working Capital Requirement | 13.00 |
| 2 | General Corporate Expenses | 0.91 |
The Milton Industries IPO is subscribed [.] times on October 6, 2017 5:00:00 PM (Day 5). The public issue subscribed [.] times in the retail category, [.] times in the QIB category, and [.] times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including underwriting and selling commissions, brokerages, payment to other intermediaries such as Legal Advisors, Registrars, etc | 0.32 |
| 2 | Printing and Stationery and postage expenses | 0.01 |
| 3 | Advertising and Marketing expenses | 0.01 |
| 4 | Statutory expenses | 0.04 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹34.00 |
| Open | ₹40.80 |
| Low | ₹32.20 |
| High | ₹40.80 |
| Last Trade | ₹34.35 |
Lead Manager Reports
Milton Industries IPO is a SME IPO of 42,00,000 equity shares of the face value of ₹10 aggregating up to ₹14 Crores. The issue is priced at ₹34 per share. The minimum order quantity is 4000.
The IPO opens on Fri, Sep 29, 2017, and closes on Fri, Oct 6, 2017.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Milton Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Milton Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Milton Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Milton Industries IPO opens on Fri, Sep 29, 2017 and closes on Fri, Oct 6, 2017.
Milton Industries IPO lot size is 4000, and the minimum amount required for application is ₹1,36,000.
You can apply in Milton Industries 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 Milton Industries IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Milton Industries IPO allotment status.
The Milton Industries IPO listing date is on Mon, Oct 16, 2017.
