IPO Details
Bidding Dates
20 Mar '24 - 22 Mar '24
Minimum Investment
₹ 180,000 / 1 Lot ( 2400 Shares )
Price Range
₹71 - ₹75
Maximum Investment
₹ 180,000 / 1 Lot ( 2400 Shares )
Retail Discount
Not Applicable
Issue Size
₹27.00 Cr
Investor category and sub category
Retail Individual Investors | Non-Institutional Investors | Qualified Institutional Buyers (QIB) |FPO Dates
Important dates with respect to IPO allotment and listing
Anchor Date
Mar 19, 2024
Opening Date
Mar 20, 2024
Closing Date
Mar 22, 2024
Basis of Allotment
Mar 26, 2024
Initiation of Refunds
Mar 27, 2024
Credit of Shares to Demat
Mar 27, 2024
Listing Date
Mar 28, 2024
Cut-off time for UPI mandate confirmation
Mar 22, 2024
Omfurn India Limited FPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Mar 20, 2024 |
0.00x | 0.43x | 0.75x | 0.39x |
Day 2Mar 21, 2024 |
1.00x | 0.32x | 2.81x | 1.63x |
Omfurn India Limited FPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutional Buyers | 1.00 |
| Non-Institutional Buyers | 0.56 |
| Retail Investors | 3.69 |
| Total | 2.04 |
About Omfurn India Limited
Omfurn India Limited is a well-known company in India that makes wooden doors and modular furniture. It started on November 13, 1997, and has over 25 years of experience. The company works on various projects across India, making kitchen furniture, wardrobes, bathroom vanities, and office furniture. It became a public company listed on the National Stock Exchange in 2017.
The company's factory is in Umbergaon and is very large, covering 1,61,460 square feet. This site helps them make more furniture, including special items for top hotels. The factory has modern machines from Germany and Italy that cut and shape wood precisely. There's also a special area in the factory where designers work on new furniture styles to keep up with global trends.
Omfurn India Limited is known for its high-quality furniture. It has earned important quality certificates (ISO 9001, 14001, and 45001) for following strict rules. The factory's modern equipment helps make furniture accurately and efficiently. The company tests all materials carefully to make sure everything they make is of the best quality.
Industry Outlook
- India's furniture exports saw a significant growth, tripling in value from April-January 2022-23 compared to the same period in 2013-14, highlighting the country's increasing global market presence.
- The Indian furniture market is projected to grow at a CAGR of 10.9% during 2023-28, reaching an impressive $32.79 billion by 2026, driven by both domestic and international demand.
- To promote domestic manufacturing and ensure product safety, India raised the import duty on furniture from 20% to 25% and introduced BIS Standards for modular furniture in 2022.
Omfurn India Limited FPO Details
Omfurn India Limited FPO Dates
The FPO of Omfurn India Limited is open for subscription from March 20, 2024, to March 22, 2024.
Omfurn India Limited FPO's Price Band
Omfurn India Limited’s FPO is a fresh issue FPO of up to ₹27.00 crore. It is a book-building issue. The price range is set to ₹71 to ₹75 per share.
Omfurn India Limited FPO's Lot Size
The lot size for Omfurn India Limited’s FPO is 2,400 shares with a minimum investment of ₹1,80,000.
Omfurn India Limited FPO's Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Allocating ₹1,174.98 lakhs for capital expenditure, which includes the installation of plant and machinery within the existing premises, alongside necessary civil, electrical, and fabrication work.
- Using ₹125.00 lakhs for the repayment or prepayment, whether fully or partially, of certain borrowings that the company has previously availed.
- Designating ₹750.00 lakhs towards funding the working capital requirements of the company, ensuring operational liquidity and smooth day-to-day operations.
- Allocating funds for general corporate purposes, which may include but are not limited to, other strategic initiative.
Peer Details
As per RHP, there are no listed peers whose business portfolio is comparable to Omfurn India.
How To Check the Allotment Status of Omfurn India Limited’s FPO?
Steps to check FPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the FPO Section and then to FPO Orders.
- Select the individual FPO that you had applied for and check the allotment status.
- As such, Angel One will notify you of your FPO allotment status via push notification and email.
Contact Details of Omfurn India Limited
Registered office: 109, Gundecha Industrial Complex, Akrurali Road, Kandivali (East), Mumbai - 400101, Maharashtra, India
Contact Person: Ms. Dhara Pratik Shah (Company Secretary and Compliance Officer)
Phone: +91 - 22 4210 8900
E-mail: omfurn@omfurnindia.com
FPO Financials
| Particulars | For the period Ended on September 30, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Total Income (in ₹ lakh) | 4,474.78 | 7,108.10 | 3,229.79 | 2,184.54 |
| EBITDA Margin (%) | 0.13% | 0.12% | 0.10% | 0.10% |
| Profit After Tax (PAT) (in ₹ lakh) | 289.16 | 414.87 | 59.81 | (99.41) |
| Current Ratio (x) | 1.42 | 1.62 | 1.82 | 1.79 |
| Debt to Equity Ratio(x) | 0.66 | 0.44 | 0.74 | 0.76 |
| Return on Equity (%) | 10.10% | 16.12% | 2.77% | (4.74%) |
| Return on Capital Employed (RoCE) (%) | 10.28% | 19.36% | 5.39% | 1.79% |
| Earning Per Share (EPS)-in absolute ₹ | 3.54 | 5.08 | 0.73 | (1.22) |
Know before investing
Strengths
3-
Omfurn India Limited offers a diverse range of modular furniture, including hotel, office, and school furniture, as well as wooden doors, meeting all customer needs in one place.
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The company has earned ISO 9001, 14001, and OHSAS 18001 certifications, ensuring high-quality products and enhancing trust among domestic and international customers.
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Omfurn India Limited prides itself on strong customer relationships, underpinned by its focus on meeting client needs, ensuring on-time delivery, and maintaining high product quality, giving it a competitive edge.
Risks
4-
Omfurn India Limited heavily relies on door manufacturing, with revenues from doors constituting 83.17%, 64.81%, 70.74%, and 61.59% of operations for FY2023-2021, posing a risk of market fluctuations impacting overall revenue.
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As the company plans to diversify into metal doors, the lack of existing clients in the construction and hotel industries presents a risk of failing to penetrate these markets due to competition and commercial factors.
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With no long-term purchase agreements, Omfurn faces demand uncertainties. Despite serving over 50 customers regularly, reliance on the top 10 for 74.32%-88.74% of revenue in FY2023-2021 increases vulnerability to client loss.
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Omfurn India Limited's commitment to high-quality standards is crucial. Any failure in maintaining these standards could negatively affect customer demand and the company's reputation, with top 5 customers representing 50.99%-68.38% of revenue in FY2023-2021.
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Omfurn India Limited FPO FAQs
Omfurn India Limited FPO is a fresh issue of up to ₹27.00 Crore. It is a book-built issue.
The Omfurn India Limited’s shares will be allotted on March 27, 2024.
The FPO subscription window for Omfurn India Limited will open on March 20, 2024.
Retail investors can apply for at least one lot, which is a size of 2,400 shares, with a sum of ₹1,80,000.
Omfurn India Limited will be listed on BSE SME. The stock will be listed on March 28, 2024.
Steps to check FPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the FPO Section and then to FPO Orders
- Select the individual FPO that you had applied for and check the allotment status.
- As such, Angel One will notify you of your FPO allotment status via push notification and email.
Listing gains cannot be ascertained before the listing of the FPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
