What you must know about Omfurn India FPO?

About Omfurn India FPO

Established in 1997, Omfurn India Limited specializes in crafting wooden doors and furniture for various purposes including modular kitchens, wardrobes, vanities and modern office setups across India. Their team comprises skilled professionals dedicated to delivering top notch furnishing solutions. Emphasizing environmental sustainability, they are Green Building Certified and successfully completed Greenfield projects in India.

At Omfurn India Limited's manufacturing facility, they use advanced CNC woodworking machines from Germany and Italy. These machines are really precise and efficient, helping them make high-quality furniture. They also have a design department that keeps up with the latest trends to offer complete furniture solutions. To make sure their furniture meets high standards, they test the materials extensively in their own quality lab, following both Indian standards and their own specifications.

Besides the lab, they have a showroom where customers can see a wide range of products. Here, they get useful information, inspiration and learn how the furniture can improve their lives. The showroom is designed to make shopping enjoyable and informative, helping customers make smart choices.

Highlights of the Omfurn India FPO

Here are some of the highlights of the Omfurn India FPO

• Omfurn India FPO will be open from 20 March 2024 to 22 March 2024. Omfurn India FPO has a face value of ₹10 per share and the price band for the FPO has been set in the range of ₹71 to ₹75 per share.
• The FPO of Omfurn India Ltd has entirely a fresh issue component.
• As part of the fresh issue portion of the FPO, Omfurn India FPO will issue a total of 36 lakh shares, at the upper band of the FPO price of ₹75 per share to raise fresh funds of ₹27 crores.
• The total FPO size is equivalent to the fresh issue size of the FPO which is ₹27 crores.
• The company has been promoted by Mr. Rajendra Chitbahal Vishwakarma, Mr. Mahendra Chitbahal Vishwakarma and Mr. Narendra Chitbahal Vishwakarma, Mr. Prashant Rajendra Vishwakarma and Mr. Parmanand Mahendra Vishwakarma. Currently, promoter holding in the Omfurn India FPO stands at 73.40%. However, post issue promoter equity holding will get diluted to 50.96%
• The raised funds will be used for capital expenditure toward the installation of plant & machinery and repayment/prepayment of certain borrowings, to meet working capital requirements.
• Gretex Corporate Services Limited is designated as the book running lead manager for the Omfurn India FPO, while Bigshare Services will serve as the registrar for the issue.

Omfurn India FPO allocation and lot size for investment

The net offer of Omfurn India FPO will be distributed among retail investors, Qualified Institutional Buyers (QIBs) and High Net Worth Individuals (HNIs) / Non-Institutional Investors (NIIs). The allocation breakdown for the overall FPO of Omfurn India is mentioned below.

Lot sizes for investing in the Omfurn India FPO

The minimum lot size for Omfurn India FPO investment is 2400 shares, equivalent to ₹180,000 (2,400 shares x ₹75 per share), which is also the maximum for retail investors to apply in this FPO. HNI/NII investors can invest in a minimum of 2 lots, totaling 4,800 shares with a minimum value of ₹3,60,000. There are no specific maximum limits for Qualified Institutional Buyers and High Net Worth Individuals (HNI)/Non-Institutional Investors. Below is the breakdown of lot sizes and required amounts for different categories.

Key dates for Omfurn India FPO?

Omfurn India FPO will open on Wednesday, 20 March 2024 and conclude on Friday, 22 March 2024. Likewise, the bidding period for Omfurn India FPO will be from 20 March 2024, starting at 10:00 AM, until 22 March 2024, closing at 5:00 PM. For Omfurn India FPO the cut off time for UPI Mandate confirmation is also set for 5:00 PM on the closing day of the issue, which falls on 22 March 2024.

Financial highlights of Omfurn India FPO

The table below captures the key financials of Omfurn India FPO for the last 3 completed financial years.

Profit after Tax for Omfurn India FPO has shown positive growth over the past three fiscal years. In FY21, the PAT stood negative at ₹-99.41 Lakhs indicating a weak start, PAT increased in FY22 to ₹59.81 Lakhs reflecting an improvement in profitability from negative to positive. The most recent financial year, FY23, witnessed a surge in PAT reaching ₹414.87 Lakhs.