Bookbuilding IPO | ₹19 Cr | Listed at NSE SME | Wed, Sep 26, 2018 - Fri, Sep 28, 2018
Parin Furniture IPO is a book build issue of ₹18.90 crores. The issue is entirely a fresh issue of 0.30 crore shares of ₹18.90 crore.
Parin Furniture IPO bidding started from Sep 26, 2018 and ended on Sep 28, 2018. The allotment for Parin Furniture IPO was finalized on Oct 4, 2018. The shares got listed on NSE SME on Oct 9, 2018.
Parin Furniture IPO price band is set at ₹63 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,26,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,52,000.
Hem Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Parin Furniture IPO RHP for detailed Information.
IPO Open
Wed, Sep 26, 2018
IPO Close
Fri, Sep 28, 2018
Issue Price
₹63 per share
Market Cap (Pre-IPO)
₹70.04 Cr
| IPO Date | 26 to 28 Sep, 2018 |
| Listed on | Tue, Oct 9, 2018 |
| Face Value | ₹10 per share |
| Price Band | ₹60 to ₹63 |
| Issue Price | ₹63 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 30,00,000 shares (agg. up to ₹19 Cr) |
| Reserved for Market Maker | 1,60,000 shares Hem Finlease Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 28,40,000 shares (agg. up to ₹18 Cr) |
| Net Offered to Public | 28,40,000 shares (agg. up to ₹18 Cr) |
| Share Holding Pre Issue | 81,18,000 shares |
| Share Holding Post Issue | 1,11,18,000 shares |
| NSE Symbol | PARIN |
| ISIN | INE00U801010 |
Parin Furniture IPO comprises a total issue size of 30,00,000 shares. The net offer to the public is 28,40,000 shares, after excluding 1,60,000 shares allotted on a firm basis. Of the Net offer 2,84,000 (10.00%) are allocated to QIB, 15,62,000 (55.00%) allocated to NII 9,94,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 2,84,000 | 10.00% | 9.47% |
| NII (HNI) Shares Offered | 15,62,000 | 55.00% | 52.07% |
| Retail Shares Offered | 9,94,000 | 35.00% | 33.13% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,60,000 | 5.33% | |
| Total Shares Offered | 30,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,26,000 |
| Retail (Max) | 1 | 2,000 | ₹1,26,000 |
| HNI (Min) | 2 | 4,000 | ₹2,52,000 |
Incorporated in 2006, Gujarat based Parin Furniture Limited is a company engaged in the business of providing provider of a wide and exclusive range of furniture and lifestyle products. The product portfolio of the company includes a variety of furniture for homes, offices, hospitals and other institutions.
The company's business network is spread in 18 States with COCO Flagship Retail Stores in Ahmedabad, Rajkot, and Mumbai. Around 900 dealers associated with it. It has 4 warehouses in Rajkot, Surat, Mumbai, and Kolkata.
Parin Furniture has also entered into franchise agreements with other companies in Junagadh, Mehsana, and Hyderabad.
Its Subsidiary Company 'Pearl Furniture Private Limited' has a well-established manufacturing unit located at Rajkot. The facility is equipped with high tech equipment and design facility to manufacture various all types of furniture.
The company has 137 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 | Repayment of Certain Secured Borrowing availed by the Company | 9.00 |
| 2 | Funding the Working Capital Requirements of the Company | 6.20 |
| 3 | General Corporate Purposes | 3.10 |
The Parin Furniture IPO is subscribed 2.45 times on September 28, 2018 6:00:00 PM (Day 3). The public issue subscribed 2.62 times in the retail category, [.] times in the QIB category, and 2.08 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.08 | 14,20,000 | 29,50,000 |
| Retail | 2.62 | 14,20,000 | 37,14,000 |
| Total | 2.45 | 28,40,000 | 69,48,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including Underwriting and Selling Commissions, Brokerages, All Statutory Expenses, Payment to Registrar, Other Advertisement and Marketing Expenses etc | 0.51 |
| 2 | Payment to Advisor to the Issue | 0.05 |
| 3 | Payment to Legal Advisor | 0.02 |
| 4 | Printing, Stationery & Postage expenses | 0.02 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹63.00 |
| Open | ₹64.00 |
| Low | ₹63.00 |
| High | ₹66.00 |
| Last Trade | ₹64.90 |
Lead Manager Reports
Parin Furniture IPO is a SME IPO of 30,00,000 equity shares of the face value of ₹10 aggregating up to ₹19 Crores. The issue is priced at ₹63 per share. The minimum order quantity is 2000.
The IPO opens on Wed, Sep 26, 2018, and closes on Fri, Sep 28, 2018.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Parin Furniture IPO using UPI as a payment gateway. Zerodha customers can apply in Parin Furniture IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Parin Furniture IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Parin Furniture IPO opens on Wed, Sep 26, 2018 and closes on Fri, Sep 28, 2018.
Parin Furniture IPO lot size is 2000, and the minimum amount required for application is ₹1,26,000.
You can apply in Parin 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 Parin Furniture IPO will be done on Thursday, October 4, 2018, and the allotted shares will be credited to your demat account by Fri, Oct 5, 2018. Check the Parin Furniture IPO allotment status.
The Parin Furniture IPO listing date is on Tue, Oct 9, 2018.
