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Parin Furniture Limited IPO (Parin Furniture IPO) Detail

Sep 26, 2018 - Sep 28, 2018

Incorporated in 2006, Gujarat based Parin Furniture Limited is a company engaged in the business of providing provider of a wide and exclusive range of furniture and lifestyle products. The product portfolio of the company includes a variety of furniture for homes, offices, hospitals and other institutions.

The company's business network is spread in 18 States with COCO Flagship Retail Stores in Ahmedabad, Rajkot, and Mumbai. Around 900 dealers associated with it. It has 4 warehouses in Rajkot, Surat, Mumbai, and Kolkata.

Parin Furniture has also entered into franchise agreements with other companies in Junagadh, Mehsana, and Hyderabad.

Its Subsidiary Company 'Pearl Furniture Private Limited' has a well-established manufacturing unit located at Rajkot. The facility is equipped with high tech equipment and design facility to manufacture various all types of furniture.

The company has 137 employees on its payroll.

Company Promoters:

The promoters of the company are Mr. Umesh Dhirajlal Nandani, Mr. Deven Dipesh Nandani and Mr. Parin Umeshbhai Nandani. Mr. Umesh Dhirajlal Nandani holds 9,13,120 Equity Shares, Mr. Deven Dipesh Nandani holds 26,87,200 Equity Shares and Mr. Parin Umeshbhai Nandani holds 13,42,280 Equity Shares of the Company. They will continue to hold the majority of our post-issue paid-up equity share capital of the Company.

Company Financials:

Summary of financial Information (Restated Standalone)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 4,663.61 4,334.86 3,963.39 1,948.67 1,673.60
Total Revenue 6,459.34 5,994.04 6,178.46 2,875.78 3,002.76
Profit After Tax 261.78 135.54 101.57 27.53 60.82
Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-18
Total Assets 5,744.18
Total Revenue 6,532.36
Profit After Tax 416.62

Objects of the Issue:

The objects of the Issue are-

1. Repayment of certain Secured Borrowing availed by our Company- Rs 900 lakhs
2. Fund the Working Capital Requirements of the Company- Rs 620 lakhs
3. General Corporate Purposes
4. Issue Expenses

Parin Furniture IPO Details

Issue OpenSep 26, 2018 - Sep 28, 2018
Issue TypeBook Built Issue IPO
Issue Size3,000,000 Eq Shares of Rs 10
(aggregating up to Rs 18.90 Cr)
Face ValueRs 10 Per Equity Share
Issue PriceRs 60 - Rs 63 Per Equity Share
Market Lot2000 Shares
Min Order Quantity2000 Shares
Listing AtNSE SME

Parin Furniture IPO Tentative Date / Timetable

Bid/Offer Opens OnSep 26, 2018
Bid/Offer Closes OnSep 28, 2018
Finalisation of Basis of AllotmentOct 4, 2018
Initiation of RefundsOct 5, 2018
Credit of Shares to Demat Acct:Oct 5, 2018
IPO Shares Listing Date:Oct 9, 2018

Parin Furniture IPO Subscription Status (Bidding Detail)

Parin Furniture IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

NII

RII

Total

Shares Offered

1,420,000

1,420,000

2,840,000

Sep 28, 2018 18:00

2.08x

2.62x

2.45x

Parin Furniture IPO Prospectus

Parin Furniture IPO Rating

56
2.5
Rating:Rated 2.5 stars

Vote Here ...

Parin Furniture IPO Listing Date

  •   ›  Listing Date: Tuesday, October 9, 2018
  •   ›  BSE Script Code:
  •   ›  NSE Symbol: PARIN
  •   ›  Listing In:
  •   ›  ISIN: INE00U801010
  •   ›  Issue Price: Rs 63 Per Equity Share
  •   ›  Face Value: Rs 10 Per Equity Share

Listing Day Trading Information

.
Issue Price
Open
Low
High
Last Trade
Volume
NSE SME
Issue Price:Rs 63.00
Open:Rs 64.00
Low:Rs 63.00
High:Rs 66.00
Last Trade:Rs 64.90
Volume:1,042,000

Parin Furniture IPO Reviews / Ratings

Company Contact Information

Parin Furniture Limited
Plot No. 6, Revenue Survey No. 149,
National Highway,at Vavdi, Gondal Road,
Rajkot, Gujarat - 360 004
Phone: +91-281-3300777
Fax: +91-281- 3063000
Email: cs@parinfurniture.com
Website: http://www.parinfurniture.com/

Parin Furniture IPO Registrar

Karvy Computershare Private Limited   »  Report
   Karvy Registry House, 8-2-596, St. No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968
Email: einward.ris@karvy.com
Website: https://karisma.karvy.com/

Parin Furniture IPO Lead Manager(s)

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Parin Furniture IPO Review / Comments

avatar
21. jignesh.elect  Oct 4, 2018 17:01 I Like It. | Report Abuse
allotment out. SBI unblock amount
avatar
20. sandippatil  Sep 29, 2018 12:00 I Like It. | Report Abuse
i have seen parin furniture product in many outlets. the products are really good . also gone through their website . as per them you will find their chairs at every airport and thats true . they are the preferred partner for all airport development companys
avatar
20.1. Small Investor  Sep 29, 2018 13:48 I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
i apply in this ipo through Offline Mode but now i confused regarding low subscription,
can i withdrawal my money from my bank, then i cancel this application or Wait for allotment / listing ?
avatar
19. rajkot rajkot  Sep 28, 2018 21:50 I Like It. | Report Abuse
Looks like the 1st day subscription was "arranged"
avatar
18. Iposuggestion  Sep 28, 2018 09:50 I Like It. | Report Abuse
Taking a break from sme IPOs now. As the market is so much volatile at this time. Every company is risky
avatar
17. rajkot rajkot  Sep 28, 2018 02:53 I Like It. 3 | Report Abuse
In past, furniture companies like Milestone, Omfun, Avon, etc. are trading below issue price. So cant decide about this IPO.
avatar
16. rajkot rajkot  Sep 27, 2018 21:44 I Like It. 1 | Report Abuse
2nd day subscription was not good as compared to 1st day..
avatar
15. SME BADSHAH  Sep 27, 2018 10:39 I Like It. 3 | Report Abuse
Agreed to Rajkot views.Most of the furniture business in cash difficult for corporate accounting/governance.There was previously also one Modular furniture issue in SME .No return to shareholders.
avatar
14. rajkot rajkot  Sep 27, 2018 01:48 I Like It. 4 | Report Abuse
Excluding B2B business, the billing would be in cash.. so corporate governance standards are loose in such business.
avatar
13. rajkot rajkot  Sep 27, 2018 00:50 I Like It. | Report Abuse
If NII is oversubscribed than allocation is on pro-rata basis or (like RII category) whole lot or nothing basis??
avatar
12. Aniketiaf  Sep 26, 2018 22:34 I Like It. 4 | Report Abuse
IPO Mentor IPO Mentor (700+ Posts, 3900+ Likes)
A very good subscription figure is on the way...
avatar
11. DownriteVJ  Sep 26, 2018 13:56 I Like It. 2 | Report Abuse
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
This one looks good and can be considered. Lets see how it goes.
avatar
10. Raymangia  Sep 26, 2018 00:16 I Like It. | Report Abuse
Dilip davda ka report kagaya hy subscribe GMP 5k to 7k ,,👌👌,,&
avatar
9. Raymangia  Sep 26, 2018 00:14 I Like It. | Report Abuse
Dilip davda ka report kagaya hy subscribe To 5k to 7k ,,👌👌,,&
avatar
8. Simi Sahni  Sep 25, 2018 17:16 I Like It. 1 | Report Abuse
What the latest discussion on this IPO friends?
avatar
7. Sureshh  Sep 25, 2018 15:50 I Like It. 2 | Report Abuse
Pros:
1.      PE of 10-16 is quite ok. As per RHP, it's near lowest in industry.
2.      Profit has been constantly increasing in the past 4 years, NO SUDDEN SPIKE, which shows genuineness.
3.      Repayment of over 60% of Secured borrowings which will improvise the profit margins as earlier the Finance cost was 4-5% of Total Revenue.

Con:
1.      Revenue has been fluctuating in past 5 FYs, which is marginal as per industry cycle but is a matter of concern.
2.      Could face tight competition from low price, quality, self-assemble furniture offered by IKEA which has recently entered in India and that is a long term issue.

My Conclusion:
SUBSCRIBE
avatar
6. Sanjay parmar  Sep 24, 2018 18:34 I Like It. 2 | Report Abuse
This message has been removed by a moderator.
avatar
6.1. rajkot rajkot  Sep 25, 2018 02:27 I Like It. | Report Abuse
and on what basis u say that?
avatar
6.2. Small Investor  Sep 25, 2018 12:30 I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Bhai sanjay ji ne kl hi account bnaya h is fourm pr
avatar
5. IPO Mentor  Sep 19, 2018 11:20 I Like It. 2 | Report Abuse
Management is good with clear vision. Reputed family.
Concern is of consumption story but might not affect much as expanded their business from B2C to B2B also. Attractive PE compare to competitors.
avatar
5.1. Simi Sahni  Sep 25, 2018 11:42 I Like It. | Report Abuse
Yes
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4. rajkot rajkot  Sep 25, 2018 02:36 I Like It. | Report Abuse
If shares are alloted than while trading in secondary market... the market lot (ie 2000 shares) will be same? Or we can trade even in single share like mainstream index shares?
avatar
3. rajkot rajkot  Sep 25, 2018 02:28 I Like It. | Report Abuse
why only 3 days for this ipo? sme ipos are for longer days... no?
avatar
2. Darsh ipo  Sep 24, 2018 22:19 I Like It. | Report Abuse
First day retail more than 1 time than trapped investor ..
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