Business description – Milestone Furniture has developed the expertise in Space & work station Management, designing and innovation in Furniture used in Education, Healthcare and Corporate organizations. The company has also developed the In house technical & Design team to provide turnkey solution and implementation of interior and work space in Commercial, Residential and Institutions. The company has well established and high tech manufacturing equipments and Design facility to manufacture the various combination and size products as per the specification and design of client. Its Facility is located at 1st Floor, Aslam Compound, Shree Nagar, Behind Boghul House, Chandivali Road, Saki Naka, Mumbai, 400 072, India. The company has obtained the ISO 9000 certification for manufacture facility for quality.
Promoters of Milestone Furniture – Mr Digamber Sudam Songhare and Mr P S Ganeshkumar
| Milestone Furniture IPO details | |
| Subscription Dates | 7 – 11 May 2018 |
| IPO Price band | INR45 per share |
| Fresh issue | 3,297,000 shares (INR14.84 crore) |
| Offer for sale | Nil |
| Total IPO size | 3,297,000 shares (INR14.84 crore) |
| Minimum bid (lot size) | 3,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | BSE SME platform |
Use of funds
- To set up the manufacturing facility to make modular furniture – INR9.81 crore
- Working Capital Requirements – INR3.50 crore
- General Corporate Purposes – INR1.77 crore
- Issue Expenses – INR0.50 crore
| Milestone Furniture’s financial performance (in INR lakh) | ||||||
| FY2014 | FY2015 | FY2016 | FY2017 | 8M FY2018 | ||
| Total revenue | Â 37.9 | 332.3 | 551.8 | 894.7 | 2,371.9 | |
| Total expenses | 32.6 | 324.3 | 523.7 | 844.2 | 2,265.6 | |
| Profit after tax | 3.4 | 5.4 | 19.9 | 32.5 | 85.3 | |
Milestone Furniture’s Contact Details
Milestone Furniture Limited
1st Floor, Aslam Compound Shree Nagar
Behind Boghul House, Chandivali Road
Sakinaka, Mumbai – 400 072
Phone: +91 022 2858 1499
Email: [email protected]
Website:Â www.milestonegroup.asia
Milestone Furniture IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 1.19 |
| Day 2 | 1.44 |
| Day 3 | 1.56 |
| Day 4 | 2.02 |
| Day 5 | 3.70 |
Milestone Furniture Valuation (Latest FY)
Earnings Per Share (EPS): INR93.9
Price/Earnings (P/E) ratio: 0.48
Return on Net Worth (RONW): 8%
Net Asset Value (NAV): INR13.4 per share
Registrar of Milestone Furniture IPO
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone:Â +91 40 6716 2222Â
Fax:Â +91 40 2343 1551Â
Email:Â [email protected]
Website:Â www.karvycomputershare.com
Milestone Furniture IPO Allotment Status
Milestone Furniture IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status.
Listing performance of Milestone Furniture
IPO Opening Date: 7 May 2018
IPO Closing Date: 11 May 2018
Finalisation of Basis of Allotment: 16 May 2018
Initiation of refunds: 17 May 2018
Transfer of shares to demat accounts: 18 May 2018
Listing Date: 21 May 2018
Listing Price on BSE SME: INR45 per share (no change from IPO price)
Closing Price on BSE SME: INR44.45 per share (down 1.22% from IPO price)
