Parin Furniture IPO overview – Parin Furniture provides a wide range of furniture and lifestyle products including home furniture, office furniture, hospital furniture, institutional furniture and education furniture. Its subsidiary Pearl Furniture Private Limited has well established manufacturing unit located at Survey No. 26, Shapar Main Road, Village, Shapar, Taluka – Kotada Sangani, Dist – Rajkot-360024, having high tech equipments and design facility to manufacture various combination and size of products as per specification and needs of the customers. The factory is equipped with all facilities to execute all types of manufacturing activities such as panel cutting, edge bidding, post forming, painting line, fabrication, moulding, cutting and polishing & packaging, etc.
The company’s business network is spread in 18 States. It has COCO Flagship Retail Stores and around 900 dealers associated with itself.
Promoters of Parin Furniture – Mr Umesh Dhirajlal Nandani, Mr Deven Dipesh Nandani and Mr Parin Umeshbhai Nandani
| Parin Furniture IPO details | |
| Subscription Dates | 26 – 28 September 2018 |
| IPO Price band | INR60 – 63 per share |
| Fresh issue | 3,000,000 shares (INR18 – 18.90 crore) |
| Offer for sale | Nil |
| Total IPO size | 3,000,000 shares (INR18 – 18.90 crore) |
| Minimum bid (lot size) | 2,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 35% |
| Listing On | NSE Emerge SME platform |
Use of funds
- Repayment of Certain Secured Borrowing – INR9 crore
- Working Capital Requirements – INR6.20 crore
- General Corporate Purpose
- Issue Expenses
| Parin Furniture’s financial performance (in INR crore) | ||||||
| FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | ||
| Total revenue | 30.0 | 28.8 | 61.8 | 59.9 | 64.6 | |
| Total expenses | 27.6 | 26.2 | 56.9 | 54.1 | 57.4 | |
| Profit after tax | 0.61 | 0.28 | 1.02 | 1.36 | 2.62 | |
Parin Furniture’s Contact Details
Parin Furniture Limited
Plot No. 6, Revenue Survey No. 149
National Highway,at Vavdi, Gondal Road
Rajkot, Gujarat – 360 004
Phone: +91 281 3300777
Email: [email protected]
Website: www.parinfurniture.com
Parin Furniture IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 1.04 |
| Day 2 | 1.38 |
| Day 3 | 2.31 |
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Parin Furniture Valuation (For FY2018)
Earnings Per Share (EPS): INR6.33
Price/Earnings (P/E) ratio: 9.48 – 9.95
Return on Net Worth (RONW): 25.02%
Net Asset Value (NAV): INR20.52 per share
Registrar of Parin 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
Parin Furniture IPO Allotment Status
Parin Furniture IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status.
Listing performance of Parin Furniture
IPO Opening Date: 26 September 2018
IPO Closing Date: 28 September 2018
Finalisation of Basis of Allotment: 4 October 2018
Initiation of refunds: 5 October 2018
Transfer of shares to demat accounts: 5 October 2018
Listing Date: 9 October 2018
Listing Price on NSE SME: INR64 per share (up 1.59% from IPO price)
Closing Price on NSE SME: INR64.9 per share (up 3.02% from IPO price)
