HNO Furnishing Limited IPO -Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 17, 2022HNO Furnishing Limited stands for Home and Office. H&O Furnishing is a foremost producer, trader and supplier occupied in offering a comprehensive assortment of products comprising Modular Office Furniture, Modular Kitchen & Wardrobes, Mattresses, Upholstery, Curtain Fabrics etc.
Let’s have a detailed review of the company and analytics of the HNO Furnishing Limited IPO release date, IPO offer price, subscription, HNO Furnishing Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
HNO Furnishing Limited IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Summary of HNO Furnishing Limited IPO
HNO Furnishing Limited stands for Home and Office. H&O Furnishing is a foremost producer, trader and supplier occupied in offering a comprehensive assortment of products comprising Modular Office Furniture, Modular Kitchen & Wardrobes, Mattresses, Upholstery, Curtain Fabrics, Window Blinds, WallPapers & Wall-Covering etc. It has Initial public offer of up to 21,60,000 Equity Shares of Rs. 10 each.
From FY 2013-14 to FY 2016-2017, as per the Restated Financial Statements,
- The EBITDA and PAT margin of the company in Financial Year 2017- 18 was 250.32 and 188.16 as compared to 14.27 and 9.16 in Financial Year 2016-17.
- The Net Asset Value per Equity Share as at September 30, 2018, March 31, 2018, March 31, 2017 and March 31, 2016 was 957.28 ,Rs.695.26, Rs. 713.83 and Rs. 185.55 (all in lakhs)respectively.
- Our Revenue From Operations as per Standalone Restated Financial Statement as at September 30,2018, March 31, 2018, March 31, 2017 and March 31, 2016 was Rs. 1103.56 Lakhs, Rs. 1867.07 Lakhs, Rs.1014.05 Lakhs and Rs. 305.36 Lakhs respectively.
The Promoters of this company are Mr. Pankaj Amrutlal Bhimani, Ms. Helly Pankaj Bhimani and Mrs. Mita Pankaj Bhimani. The lead manager to the issue is Mark Corporate Advisors Private Limited and the Registrar to this issue is Bigshare Services Private Limited .
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HNO Furnishing Limited IPO Date
The opening and the closing date of HNO Furnishing Limited IPO is not known yet.
HNO Furnishing Limited IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
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| Shares Offered or Net Issue |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
HNO Furnishing Limited IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
HNO Furnishing Limited IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
HNO Furnishing Limited IPO Equity Share Offering
Initial public offer of up to 2160,000 Equity Shares of Rs. 10 each, at an Offer Price of Rs. [●] per Equity Share.
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HNO Furnishing Limited – Company Overview
HNO Furnishing Limited stands for Home and Office. H&O Furnishing is a foremost producer, trader and supplier occupied in offering a comprehensive assortment of products comprising Modular Office Furniture, Modular Kitchen & Wardrobes, Mattresses, Upholstery, Curtain Fabrics, Window Blinds, WallPapers & Wall-Coverings, Floorings, Artificial Grass, Artificial Landscaping, Deck Flooring, Carpets, Customized Beds, Dining Tables, TV Unit, False Ceilings, Rugs and Awnings. Designed and stitched in conformism with the prevailing industry developments and trends.
The Company is promoted by Mr. Pankaj Amrutlal Bhimani, Ms. Helly Pankaj Bhimani and Mrs. Mita Pankaj Bhimani and each of their promoters are having good industrial exposure.
Competitive Strengths of HNO Furnishing Limited :
- Ability to emulate, design and customize any Furniture
- One Stop-Shop
- Mechanized Solutions
- Extensive Samples for Laminates, Curtain fabrics, Upholstery, Carpets and Wallpaper
- Skilled and Experienced Manpower
- Panel of In-house Interiors Designers
Business strategies of HNO Furnishing Limited :
- Formalization of Interior Fit-out Industry
- Larger Display Centre
- Customization
- Long Term Relationship with Key Client
- Rental Furniture for Residences
- Backward Integration
- Premiumization
HNO Furnishing Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
On the basis of Standalone statement:-
| Amount (in INR & Lakhs) | ||||
| 30-Sept-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 957.28 | 695.26 | 713.83 | 185.55 |
| Total Revenue | 1103.56 | 1867.07 | 1014.05 | 305.36 |
| Total Expense | 955.67 | 1616.75 | 999.78 | 296.53 |
| Profit After Tax | 100.78 | 188.16 | 9.16 | 5.97 |
Earnings per Equity Share (in Lakhs)
| 31-Sept-18 | 31-Mar-18 | 31-Mar-17 | |
| Basic & Diluted | 8.96 | 8.36 | 0.41 |
From the above statements, one could find that the HNO Furnishing Limited may perform well.
HNO Furnishing Limited IPO – Promoters
The Promoters of this company are:
- Mr. Pankaj Amrutlal Bhimani
- Ms. Helly Pankaj Bhimani
- Mrs. Mita Pankaj Bhimani
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
HNO Furnishing Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | 21,60,000 Equity Shares of face value of Rs. 10 each fully paid of the Company for cash at price of Rs. per Equity Share aggregating Rs. [∙] Lakhs |
| Of which: | |
| Fresh Issue | 1,08,000 Equity Shares of face value of Rs. 10 each fully paid of the Company for cash at price of Rs. [∙] per Equity Share aggregating Rs. [∙] Lakhs |
| Offer for sale | 20,52,000 Equity Shares of face value of Rs. 10 each at a price of Rs. [∙] per Equity Share to the Public aggregating Rs. [∙] Lakhs |
| Of which: | |
| Retail Investors Portion | 10,26,000 Equity Shares of face value of Rs. 10 each at a price ofRs. [∙] per Equity Share to the Retail Portion to the RII’s aggregating Rs. [∙] Lakhs |
| Non-Retail Investors Portion | 10,26,000 Equity Shares of face value of Rs. 10 each at a price of Rs. [∙] per Equity Share to the NII’s including QIB’s aggregating Rs. [∙] Lakhs |
| Equity Shares outstanding prior to the Issue | – |
| Equity Shares outstanding after the Issue | 50,20,000 Equity Shares |
HNO Furnishing Limited IPO Issue Object
These are the IPO Issue Objects of the company
- Establishment of Large Display Centre at Mumbai
- Meeting Working Capital Requirement
- Setting up Procurement and Furniture Producing Subsidiary in Gabon, Africa
- General Corporate Purposes
- Meeting Issue Expenses
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HNO Furnishing Limited IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Scalable Retail business model.
- Full Customization offerings leading to larger choices for customers.
- Plan to establish backend producing unit in cost effective location of Gabon, Africa.
- Experienced management team and a motivated work force.
- Good relations with Architects & Corporate clients.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 8.36 | 16.00% | – |
| 31-Mar-17 | 0.41 | 19.71 | – |
| 31-Mar-18 | 0.29 | 80.19 | 14.91 |
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HNO Furnishing Limited IPO Lead Managers
| Lead Managers |
| Mark Corporate Advisors Private Limited CIN: U67190MH2008PTC181996 404/1, The Summit Business Bay, Sant Janabai Road (Service Lane), Off W. E. Highway, Vile Parle (East), Mumbai-400 057. Contact Person: Mr. Manish Gaur Tel. No.: +91 22 2612 3207/08 E-Mail ID: smeipo@markcorporateadvisors.com SEBI Regn No.: INM000012128 Investor Grievance Email: investorgrievance@markcorporateadvisors.com |
HNO Furnishing Limited IPO Registrar to offer
| Registrar to the Offer |
| Bigshare Services Private Limited 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai- 400 059 Contact Person: Mr.Srinivas Dornala Tel No.: +91 22 62638263 Fax .:+91 022 62638299 E-Mail ID: ipo@bigshareonline.com SEBI Regn No.: INR000001385 |
Other Details:
- Statutory Auditor – M/s L N Maru & Co
- Bankers to the Company – Indian Bank
HNO Furnishing Limited IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
HNO Furnishing Limited IPO Grey Market Premium
The HNO Furnishing Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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