Parin Furniture IPO – Review, Allotment, Subscription, Price, Date & more

Parin Furniture Limited Company is a provider of wide and exclusive range of furniture and lifestyle products for several consumers. The Company has issued 38,00,000 Equity shares of Rs.10 each. Let’s have a detailed review of the company and analytics of the Parin Furniture IPO release date, IPO offer price, subscription, Parin Furniture IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Parin Furniture IPO Review & Ratings

Parin Furniture IPO Ratings & Review
Criteria Ratings
Industry Sentiments  6.3/10
Industry Ranking  6.3/10
Company Background 6.1/10
Company Reputation 6.4/10
Competitive Edge 6.4/10
Financial Statements 6.5/10
Popularity Index 6.2/10
Promoters Reputation 6.3/10
Retail Appetite  6.2/10
Top Brokers Review 6.3/10
Overall Ratings  6.3/10
Star Ratings ★★★☆☆

Summary of Parin Furniture IPO

Parin Furniture IPOParin Furniture Limited is a part of the specialty chemicals industry which is one of the fastest growing manufacturing sectors in India. Specialty chemicals have penetrated in industries such as packaging, agriculture, healthcare, aerospace, electronics, automotive, consumer goods and other industries. The Issue comprises of a Public Issue of 38, 00,000 Equity shares of face value of Rs.10.00 each. This Issue is being made for at least 25% of the post- issue paid-up Equity Share capital of  the Company.

From FY 2016-17 to FY 2017-2018, as per the Restated Financial Statements:

  • The Net worth of this  Company based on Restated Standalone Financial Statements as on March 31, 2018, March 31, 2017, March 31, 2016 and March 31, 2015 was Rs. 1547.11 lakhs, Rs. 564.67 lakhs, Rs. 428.80 lakhs and Rs. 327.24 lakhs respectively.
  • The NAV / Book Value per Equity Share of our Company (closing number of shares adjusted for bonus issue), as per Restated Standalone Financial Statements as on March 31, 2018, March 31, 2017, March 31, 2016 and March 31, 2015 was Rs.19.06, Rs. 14.26, Rs. 10.83 and Rs. 8.26 per equity share respectively.
  • Company’s Net Profit after tax for the year 2017-18 is Rs. 261.78 Lacs from the year 2016-17 of Rs. 135.54 Lacs showing an increase of 93.13 % from last year, showing remarkable performance.

The Promoter of this company is Mr. Umesh Dhirajlal Nandani, Mr. Deven Dipesh Nandani and Mr. Parin Umeshbhai Nandani . The lead manager to the issue is HEM SECURITIES LIMITED and the Registrar to this issue is KARVY COMPUTERSHARE PRIVATE LIMITED.


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Parin Furniture IPO Date

The opening and the closing date of IPO of Parin Furniture is 26 Sept 2018 – 28 Sept 2018.


Parin Furniture IPO Subscription

Day / Date NII RII Total Subscription
Day 1 : 26 Sept 2018 1.12x 1.08x 1.10x
Day 2 : 27 Sept 2018
Day 3 : 28 Sept 2018
Shares Offered or Net Issue 1,420,000 1,420,000 2,840,000

Parin Furniture IPO Allotment Status

The allotment status will be known once the shares are subscribed. Here, you can find the Allotment Status of this IPO. 


Parin Furniture IPO Price Band

The face value of each share is Rs 10, but the price band is Rs 60 – Rs 63 Per Equity Share.


Parin Furniture IPO Equity Share Offering

30,00,000 Equity Shares of Rs 10/- each but Issue Price is Rs 60 – Rs 63 Per Equity Share, aggregated to Rs 18.90 Crores. The minimum order quantity is 2000 shares.


Parin Furniture Limited – Company Overview

Parin Furniture Private Limited was incorporated dated September 12, 2006 under the provision of Companies Act, 1956 by Registrar of Companies, Gujarat Dadra & Nagar Havelli. The Company is engaged in the business of wide and exclusive range of furniture and lifestyle products for several consumers.It also has a subsidiary company namely Pearl Furniture Pvt Limited having high tech equipments and design facility to manufacture various combination and size of products as per specification and needs of the customers.

Key clients include Airport Authority of India, Rajasthan Madhyamik Shiksha Abhiyan, Shree Gurukrupa Shraddha Realities Pvt Ltd, Trendsutra Client Services Pvt Ltd, J P Structures Pvt Ltd and Delhi Tourism & Transportation Development Corporation, etc.

The Company is promoted by MR. UMESH DHIRAJLAL NANDANI, MR. DEVEN DIPESH NANDANI AND MR. PARIN UMESHBHAI NANDANI , who has over a decade of experience in the Furniture industry. He is the guiding force behind the growth and strategic decisions of the Company.

The company is into various areas which is:-

  • Home Furniture & Decor
  • Office Furniture
  • Hospital Furniture
  • Institutional Furniture
  • Education Furniture

Competitive Strengths of Parin Furniture Limited:

  • Diverse portfolio of Services.
  • Established relationship with clients leading to recurring business.
  • Experienced management and operational team.
  • Customer Satisfaction.
  • Diversified Industry Sectors.

Business strategies of Parin Furniture Limited:

  • Brand Building.
  • Setting up of more showrooms.
  • Improving functional efficiency.
  • Leveraging our Marketing skills and Relationship.

Parin Furniture 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:

  • Earnings per Equity Share (in Rs.)
31-Mar-18 31-Mar-17 31-Mar-16
Basic & Diluted 3.98 3.42 2.56
Amount (in INR & Lakhs)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 4,663.61 4,344.86 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
Total Expense 5,739.67 5,408.92 5,686.31 2,616.12 2,763.18
Profit After Tax 261.78 135.54 101.57 27.53 60.82

From the above statements, one could find that the Parin Furniture Limited may perform well.


Parin Furniture IPO – Promoters

The Promoter of this company are:

  1. Mr. Umesh Dhirajlal Nandani,
  2. Mr. Deven Dipesh Nandani
  3. Mr. Parin Umeshbhai Nandani

List of Related Parties (Key Managerial Personnel)

  • Dhirajlal Laxmidas Nandani (HUF)
  • Dipeshbhai Dhirajlal Nandani (HUF)

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 Directors do not have any other interest in any property acquired by the Company in a period of two years before filing of this Draft Red Herring Prospectus or proposed to be acquired by us as on date of filing this Draft Red Herring Prospectus.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Parin Furniture IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered 3800000 Equity Shares of Rs 10/- each at an Issue Price (yet to be disclosed).
 Of which:
 Reserved for Market Makers This portion is not yet disclosed while face value of Equity Shares is of Rs 10/- each at an issue price.
 Net Issue to the Public This portion is not yet disclosed while face value of Equity Shares is of Rs 10/- each at an issue price.
 Of which:
 Retail Investors Portion This portion is not yet disclosed while face value of Equity Shares is of Rs 10/- each at an issue price.This is not less than 35% of the Net Issue.
 Non-Retail Investors Portion This portion is not yet disclosed while face value of Equity Shares is of Rs 10/- each at an issue price.This is not more than 50% of the Net Issue.
 Equity Shares outstanding prior to the Issue 81,18,000 Equity Shares at Rs.10 each.
 Equity Shares outstanding after the Issue Not yet disclosed

Parin Furniture IPO Issue Object

These are the IPO Issue Objects of the company:

  • Repayment of certain Secured Borrowing availed by our Company
  • Funding of working capital requirements of the Company
  • General Corporate Purpose
  • Issue Expenses

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Parin Furniture 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:

  • Unique Brand Positioning
  • Wide Spread Network
  • Integrated Manufacturing Facility of our Subsidiary Company
  • Experienced Promoters, professional management and skilled work-force
  • Strong & Long term relationship with our Clients

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16 2.56 23.69% 10.83
31-Mar-17 3.42 24.00% 14.26
31-Mar-18 3.98 16.92% 19.06
  • Industry P/E Ratio:
Particulars P/E ratio
Average 31.11
Highest 2111
Lowest 0
  • Competitive Peers:
Particulars Face Value      (in Rs.) EPS (In Rs.) P/E Ratio RONW (%)  NAV (In Rs.)
Parin Furniture Limited 10 6.33 . 25.02 25.02
Nilkamal Limited 10 82.11 20.47 17.4 497.19

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Parin Furniture IPO Lead Managers

Lead Managers
HEM SECURITIES LIMITED

904, A Wing, 9th Floor Naman Midtown, Senapati Bapat Marg,
Elphinstone Road Mumbai-400 013, India.
Tel : 022 4906 0000; Fax: 022 2262 5991
Email:
Investor Grievance Email:
Contact Person: Radhika Soni
Website: www.hemsecurities.com
SEBI Registration number: INM000010981

Parin Furniture IPO Registrar to offer

Registrar to the Offer
KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial
District, Nanakramguda, Hyderabad – 500 032 India.
Tel.:- +91 40 6716 2222, Fax.:- +91 40 2343 1551
Email:-
Investor Grievance Email:
Contact Person: Mr. M Murali Krishna
Website: www.karisma.karvy.com
SEBI Registration No.: INR000000221
CIN : U72400TG2003PTC041636

Other Details:

  • Statutory Auditor –M/s Bhavin Associates; Chartered Accountants
  • Peer Review Auditor –M/s J B Shah & Co.Chartered Accountant.

Parin Furniture IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promters Reputation
Angel Broking 6.5/10 6.6/10 6.6/10 6.4/10 6.4/10
Sharekhan 6.7/10 6.4/10 6.6/10 6.1/10 6.2/10
Kotak Securities 6.7/10 6.7/10 6.7/10 6.4/10 6.3/10
ICICI Direct 6.6/10 6.3/10 6.7/10 6.5/10 6.5/10
IIFL 6.4/10 6.7/10 6.8/10 6.4/10 6.7/10
Edelweiss 6.7/10 6.4/10 6.4/10 6.3/10 6.7/10
Zerodha 6.5/10 6.4/10 6.7/10 6.4/10 6.5/10
5Paisa 6.7/10 6.4/10 6.3/10 6.7/10 6.5/10
Karvy 6.8/10 6.3/10 6.7/10 6.4/10 6.0/10
Motilal Oswal 6.6/10 6.4/10 6.6/10 6.6/10 6.4/10

The ratings would be updated once the financials and the other details of the IPO are released.


Parin Furniture IPO Grey Market Premium

The Parin Furniture IPO Grey Market Premium is not available.


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Parin Furniture IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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