Omfurn India was incorporated on 13 November 1997. The company is a manufacturer and supplier of pre-finished wooden doors and modular furniture in India. It creates a wide range of wooden doors and furniture for modular kitchens, wardrobes, vanities, and modern office furniture through customized, system-based, or turnkey projects PAN India.
| Bidding Dates |
|---|
| 20 Mar 2024 - 22 Mar 2024 |
| Subscription |
|---|
| 3.42x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,70,400 | 1 | 1 | 2400 | 3.6 M | ₹71 - ₹75 | 50.96 % | ₹255.6 M - ₹270.0 M | RHP DOC |
Omfurn IPO SUBSCRIPTION STATUS
22 Mar '24Omfurn IPO overall subscription rate was 3.42 times the total available shares
Omfurn IPO retail subscription rate was 7.07 times in the retail segment
Omfurn IPO non-institutional investor subscription rate was 3.77 times in the non-institutional investor category
Omfurn IPO Qualified Institutional Bidder subscription rate was 0.77 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
22 Mar 2024 (Day 3) | 7.07x | 3.77x | 0.77x |
21 Mar 2024 (Day 2) | 3.05x | 0.74x | 0.77x |
20 Mar 2024 (Day 1) | 0.8x | 0.48x | 0x |
Omfurn FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 28.9 | 441.8 | 57.9 | 53.4 | 0.1% |
| FY23 | 41.5 | 702.3 | 27.7 | 7.6 | 0.1% |
| FY22 | 6.0 | 308.4 | 10.6 | 6.1 | 0.1% |
| FY21 | -9.9 | 204.5 | 28.8 | 32.4 | 0.1% |
Omfurn IPO SUBSCRIPTION STATUS DETAILS
Omfurn had 3.6 M shares on offer
Omfurn IPO offer price was in the range ₹71 - ₹75
Omfurn IPO minimum Investment was ₹170400
Omfurn IPO issue size was ₹ 255.6 M - ₹ 270.0 M
Omfurn had a minimum lot size of 2400 Shares per application
Omfurn NUMBER OF SHARES ON OFFER
Omfurn IPO IMPORTANT DATES
| Issue Open Date | 20 Mar 2024 |
| Issue close Date | 22 Mar 2024 |
| Allotment Date | 26 Mar 2024 |
| Refund Date | 27 Mar 2024 |
| Demat Account Credit Date | 27 Mar 2024 |
| Listing Date | 28 Mar 2024 |
| Listing on Exchange(s) | NSE |
| Omfurn Allotment Status | Exchange |
Omfurn IPO subscription opened on 20 Mar 2024, and closed on 22 Mar 2024
IPO allotment for Omfurn was finalized on Tuesday, 26 Mar 2024
IPO listing for Omfurn was on NSE on Thursday, 28 Mar 2024
Omfurn IPO LISTING GAINS
| Issue Price (adjusted) | 75.0 |
| Listing Open Price | 76.6 |
| Listing Close Price | 76.6 |
| Listing Gain% | 2.1% |
| Current Gain% | -20.1% |
Omfurn Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Omfurn India Ltd. | 60 | 70.6 | 11.2 | -5.6 | 0.8 | 9.7 | 6.3 | 87.1 | 45.3 | 6.3 | -2 | 5.3 | -2 |
| Sheela Foam Ltd. | 677.4 | 7397.4 | 34.5 | 0.1 | 1.8 | 4.9 | 3.1 | 3875.1 | 8.5 | 159.6 | 66.1 | 19.6 | 273.1 |
| Greenlam Industries Ltd. | 273.7 | 6983.4 | 75.1 | 0.4 | 2.2 | 4.8 | 1.9 | 3054.3 | 18.4 | 56.3 | -19.3 | 3.6 | 172.9 |
| Responsive Industries Ltd. | 169.4 | 4517.4 | 30.4 | -1.2 | 3.2 | 9.5 | 8 | 1404.2 | -1.6 | 148.4 | -25.4 | 5.6 | -25.4 |
| Wakefit Innovations Ltd. | 127.8 | 4233.1 | 21.9 | 2.7 | 16.7 | 10.8 | 1534.4 | 17.5 | 189.2 | 640.4 | 5.8 | ||
| Euro Pratik Sales Ltd. | 314.1 | 3210.1 | 41.6 | 85.9 | 9.6 | 24.9 | 19.4 | 343 | 17.7 | 77.1 | 0.5 | 7.5 | 0.5 |
Omfurn INFORMATION ON IPO ISSUE
About Omfurn
Omfurn India was incorporated on 13 November 1997. The company is a manufacturer and supplier of pre-finished wooden doors and modular furniture in India. It creates a wide range of wooden doors and furniture for modular kitchens, wardrobes, vanities, and modern office furniture through customized, system-based, or turnkey projects PAN India.
Object of the Issue
- Funding capital expenditure towards installation of plant & machinery in our existing premises along with required civil, electric and fabrication work
- Repayment/prepayment, in full or part, of certain borrowings availed of by the company
- Funding to meet working capital requirements
- General corporate purposes
Omfurn - PROMOTERS
| Name |
|---|
| Rajendra Chitbahal Vishwakarma |
| Mahendra Chitbahal Vishwakarma |
| Narendra Chitbahal Vishwakarma |
| Prashant Rajendra Vishwakarma |
| Parmanand Mahendra Vishwakarma |
Omfurn Lead Manager
Gretex Corporate Services Limited
info@gretexgroup.com
Omfurn Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Omfurn Strengths
Range of product offerings
The company offers a range of modular furniture, which broadly includes hotel furniture, office furniture, school furniture, wooden shutter doors, and door frames
Compliance with quality standards
The company has received ISO 9001, 14001, and OHSAS 18001 certifications for the quality of its products
Relationship with clients
The company's on-time delivery and quality products help it maintain a strong relationship with customers and also give it a competitive strength against its peers
Omfurn Risks
Outstanding litigation
The company has certain outstanding litigation against it; an adverse outcome of which may adversely affect the business, reputation, and results of operations
Dependent on one product
A substantial portion of the revenues comes from the manufacturing of doors. The revenue from the sale of doors for H1FY24 represented 83.2% of the total revenues
Competitive environment
Developments in the competitive environment in the furniture industry, such as consolidation among competitors, could have a material adverse effect on the competitive position
IPO FAQs
The promoters of the company are Rajendra Chitbahal Vishwakarma, Mahendra Chitbahal Vishwakarma, Narendra Chitbahal Vishwakarma, Prashant Rajendra Vishwakarma and Parmanand Mahendra Vishwakarma.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 71.0 - 75.0.
The IPO application opens on Mar 20, 2024 and closes on Mar 22, 2024.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 170,400.0, the maximum value for this IPO is Rs 180,000.0.
This IPO will be allotted on Mar 26, 2024.
The refund will be credited to your account on Mar 27, 2024.
The allotted shares will be credited to your demat on Mar 27, 2024.
Omfurn India Ltd.’s shares listed on the stock exchanges on Mar 28, 2024.