Milestone Furniture IPO

Milestone Furniture IPOBusiness 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  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]

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: +91 40 6716 2222 
 +91 40 2343 1551 
 [email protected]

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)

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