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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 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

Parin Furniture IPO Date Sep 26, 2018 to Sep 28, 2018
Parin Furniture IPO Face Value ₹10 per share
Parin Furniture IPO Price ₹60 to ₹63 per share
Parin Furniture IPO Lot Size 2000 Shares
Issue Size3,000,000 shares of ₹10
(aggregating up to ₹18.90 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
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.

Parin Furniture IPO Timeline (Tentative Timetable)

Parin Furniture IPO opens on Sep 26, 2018, and closes on Sep 28, 2018. The Parin Furniture IPO bid date is from Sep 26, 2018 10.00 A.M. to Sep 28, 2018 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Date
Parin Furniture IPO Opening Date Sep 26, 2018
Parin Furniture IPO Closing Date Sep 28, 2018
Basis of Allotment Oct 4, 2018
Initiation of Refunds Oct 5, 2018
Credit of Shares to Demat Oct 5, 2018
Parin Furniture IPO Listing Date Oct 9, 2018

Parin Furniture IPO Lot Size

The Parin Furniture IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹126,000).

Application Lots Shares Amount
Retail (Min) 1 2000 ₹126,000
Retail (Max) 1 2000 ₹126,000

Parin Furniture IPO Review

PFL is in fast forward mode with many new plans up the sleeve. Considering reasonable pricing and good orders on hand, investment may be considered. Read detail review...


Parin Furniture IPO Subscription Status (Bidding Detail)

The Parin Furniture IPO is subscribed 2.45 times on Sep 28, 2018 6:00:00 PM. The public issue subscribed 2.62 times in the retail category, times in the QIB category, and 2.08 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII2.08
Retail2.62
Total2.45

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
IPO Price ₹63 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
IPO Price: ₹63.00
Open: ₹64.00
Low: ₹63.00
High: ₹66.00
Last Trade: ₹64.90

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
Email: cs@parinfurniture.com
Website: http://www.parinfurniture.com/

Parin Furniture IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://karisma.kfintech.com/

Parin Furniture IPO Review

Parin Furniture IPO Recommendation Summary

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Parin Furniture IPO FAQs

Parin Furniture IPO is a SME IPO of 3,000,000 equity shares of the face value of ₹10 aggregating up to ₹18.90 Crores. The issue is priced at ₹60 to ₹63 per share. The minimum order quantity is 2000 Shares.

The IPO opens on Sep 26, 2018, and closes on Sep 28, 2018.

KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

The Parin Furniture IPO opens on Sep 26, 2018 and closes on Sep 28, 2018.

Parin Furniture IPO lot size is 2000 Shares and the minimum order quantity is .

You can apply in Parin Furniture IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Parin Furniture IPO will be done on Oct 4, 2018, and the allotted shares will be credited to your demat account by Oct 5, 2018. Check the Parin Furniture IPO allotment status.

The Parin Furniture IPO listing date is on Tuesday, October 9, 2018.
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Parin Furniture IPO Message Board

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31 Comments

21. jignesh.elect |   Link |Oct 4, 2018 5:01:20 PM
allotment out. SBI unblock amount
20. sandippatil |   Link |Sep 29, 2018 12:00:33 PM
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
20.1. Small Investor |   Link |Sep 29, 2018 1:48:41 PM
IPO Guru IPO Guru (1600+ Posts, 900+ 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 ?
19. rajkot rajkot |   Link |Sep 28, 2018 9:50:54 PM
Looks like the 1st day subscription was "arranged"
18. Iposuggestion |   Link |Sep 28, 2018 9:50:06 AM
Taking a break from sme IPOs now. As the market is so much volatile at this time. Every company is risky
17. rajkot rajkot |   Link |Sep 28, 2018 2:53:24 AM
In past, furniture companies like Milestone, Omfun, Avon, etc. are trading below issue price. So cant decide about this IPO.
16. rajkot rajkot |   Link |Sep 27, 2018 9:44:30 PM
2nd day subscription was not good as compared to 1st day..
15. SME BADSHAH |   Link |Sep 27, 2018 10:39:17 AM
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.
14. rajkot rajkot |   Link |Sep 27, 2018 1:48:17 AM
Excluding B2B business, the billing would be in cash.. so corporate governance standards are loose in such business.
13. rajkot rajkot |   Link |Sep 27, 2018 12:50:34 AM
If NII is oversubscribed than allocation is on pro-rata basis or (like RII category) whole lot or nothing basis??
12. Aniketiaf |   Link |Sep 26, 2018 10:34:07 PM
IPO Guru IPO Guru (1800+ Posts, 10200+ Likes)
A very good subscription figure is on the way...
11. DownriteVJ |   Link |Sep 26, 2018 1:56:48 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
This one looks good and can be considered. Lets see how it goes.
10. Raymangia |   Link |Sep 26, 2018 12:16:43 AM
Dilip davda ka report kagaya hy subscribe GMP 5k to 7k ,,????????,,&
9. Raymangia |   Link |Sep 26, 2018 12:14:47 AM
Dilip davda ka report kagaya hy subscribe To 5k to 7k ,,????????,,&
8. Simi Sahni |   Link |Sep 25, 2018 5:16:08 PM
What the latest discussion on this IPO friends?
7. Sureshh |   Link |Sep 25, 2018 3:50:28 PM
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
6. Sanjay parmar |   Link |Sep 24, 2018 6:34:09 PM
This message has been removed by a moderator.
6.1. rajkot rajkot |   Link |Sep 25, 2018 2:27:04 AM
and on what basis u say that?
6.2. Small Investor |   Link |Sep 25, 2018 12:30:06 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Bhai sanjay ji ne kl hi account bnaya h is fourm pr
5. IPO Mentor |   Link |Sep 19, 2018 11:20:55 AM
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.
5.1. Simi Sahni |   Link |Sep 25, 2018 11:42:23 AM
Yes
4. rajkot rajkot |   Link |Sep 25, 2018 2:36:11 AM
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?
3. rajkot rajkot |   Link |Sep 25, 2018 2:28:58 AM
why only 3 days for this ipo? sme ipos are for longer days... no?
2. Darsh ipo |   Link |Sep 24, 2018 10:19:45 PM
First day retail more than 1 time than trapped investor ..