Omfurn India FPO is a book built issue of Rs 27.00 crores. The issue is entirely a fresh issue of 36 lakh shares.
Omfurn India FPO opens for subscription on March 20, 2024 and closes on March 22, 2024. The allotment for the Omfurn India FPO is expected to be finalized on Tuesday, March 26, 2024. Omfurn India FPO will list on NSE SME with tentative listing date fixed as Thursday, March 28, 2024.
Omfurn India FPO price band is set at ₹71 to ₹75 per share. The minimum lot size for an application is 2400 Shares. The minimum amount of investment required by retail investors is ₹180,000. The minimum lot size investment for HNI is 2 lots (4,800 shares) amounting to ₹360,000.
Gretex Corporate Services Limited is the book running lead manager of the Omfurn India FPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Omfurn India FPO is Gretex Share Broking.
Refer to Omfurn India FPO RHP for detailed information.
Omfurn India FPO Details
| IPO Date | March 20, 2024 to March 22, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹71 to ₹75 per share |
| Lot Size | 2400 Shares |
| Total Issue Size | 3,600,000 shares (aggregating up to ₹27.00 Cr) |
| Fresh Issue | 3,600,000 shares (aggregating up to ₹27.00 Cr) |
| Issue Type | Book Built Issue FPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,174,400 |
| Share holding post issue | 11,774,400 |
| Market Maker portion | 180,000 shares Gretex Share Broking |
Omfurn India FPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Omfurn India FPO Anchor Investors Details
Omfurn India FPO raises Rs 7.69 crore from anchor investors. Omfurn India FPO Anchor bid date is March 19, 2024.
| Bid Date | March 19, 2024 |
| Shares Offered | 1,024,800 |
| Anchor Portion Size (In Cr.) | 7.69 |
| Anchor lock-in period end date for 50% shares (30 Days) | April 25, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 24, 2024 |
Omfurn India FPO Timeline (Tentative Schedule)
Omfurn India FPO opens on March 20, 2024, and closes on March 22, 2024.
| IPO Open Date | Wednesday, March 20, 2024 |
| IPO Close Date | Friday, March 22, 2024 |
| Basis of Allotment | Tuesday, March 26, 2024 |
| Initiation of Refunds | Wednesday, March 27, 2024 |
| Credit of Shares to Demat | Wednesday, March 27, 2024 |
| Listing Date | Thursday, March 28, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 22, 2024 |
Omfurn India FPO Lot Size
Investors can bid for a minimum of 2400 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2400 | ₹180,000 |
| Retail (Max) | 1 | 2400 | ₹180,000 |
| HNI (Min) | 2 | 4,800 | ₹360,000 |
| Lot Size Calculator | |||
Omfurn India FPO Promoter Holding
Mr. Rajendra Chitbahal Vishwakarma, Mr. Mahendra Chitbahal Vishwakarma and Mr. Narendra Chitbahal Vishwakarma, Mr. Prashant Rajendra Vishwakarma and Mr. Parmanand Mahendra Vishwakarma are the company promoters.
| Share Holding Pre Issue | 73.40% |
| Share Holding Post Issue | 50.96% |
About Omfurn India Limited
Incorporated in 1997, Omfurn India Limited is a manufacturer and supplier of Pre-Finished Wooden Doors and Modular Furniture in India. The company offers a wide range of wooden doors and furniture for Modular Kitchens, Wardrobes, Vanities and Modern Office furniture.
Omfurn India also designs, manufactures and installs custom furniture and designs and executes turnkey interior projects of hotels, residential, offices, shopping malls, hospitals, IT parks, international schools, pre-finished doors, and fire-rated doors.
The company was listed in NSE SME in the year 2017.
Omfurn India Limited’s manufacturing factory is located in Umbergaon and has a total area of 1,61,460 sq. ft.
Omfurn India Limited FPO Financial Information (Restated)
Omfurn India Limited FPO’s revenue increased by 120.08% and profit after tax (PAT) rose by 593.65% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 6,825.97 | 5,716.59 | 4,766.30 | 4,665.35 |
| Revenue | 4,474.78 | 7,108.10 | 3,229.79 | 2,184.54 |
| Profit After Tax | 289.16 | 414.87 | 59.81 | -99.41 |
| Net Worth | 2,862.95 | 2,573.79 | 2,158.92 | 2,099.11 |
| Reserves and Surplus | 2,181.75 | 1,892.59 | 1,477.72 | 1,417.91 |
| Total Borrowing | 1,890.41 | 1,138.10 | 1,595.16 | 1,585.99 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Omfurn India FPO is Rs 88.31 Cr.
KPI as of September 30, 2023.
| KPI | Values |
|---|---|
| ROE | 10.10% |
| ROCE | 10.28% |
| RoNW | 10.10% |
| P/BV | 2.14 |
| PAT Margin (%) | 0.07 |
Check Omfurn India FPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.08 | 4.91 |
| P/E (x) | 14.78 | 15.27 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (Omfurn India FPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
(1) Funding capital expenditure towards installation of plant & machinery in our existing premises along with required civil, electric and fabrication work;
(2) Repayment/prepayment, in full or part, of certain borrowings availed of by the Company;
(3) Funding to meet working capital requirements; and
(4) General corporate purposes.
Omfurn India FPO Review (May apply)
[Dilip Davda] The company is engaged in the pre-finished wooden doors and modular furniture manufacturing and marketing. This segment is highly competitive and fragmented. Its financial performance has been average. However, sudden boost in its top and bottom lines from FY23 onward raise eyebrows and concern over its sustainability. There are many listed companies in this segment, but surprisingly the company has not considered any peers for comparison. Based on FY24 annualized super earnings, the issue appears fully priced. Well-informed investors may park moderate funds for the medium term rewards. Read detail review…
Omfurn India Limited Contact Details
Omfurn India Limited
109, Gundecha Industrial Complex,
Akrurali Road, Kandivali (East),
Mumbai – 400101, Maharashtra, India
Phone: +91-2242108900
Email: omfurn@omfurnindia.com
Website: https://www.omfurnindia.com/
Omfurn India FPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html