Milestone Furniture Limited IPO Review (Date, Price)

Milestone Furniture Limited (MFL) is engaged in the manufacturing and marketing of Interior and Modular Furniture business. It is a Mumbai based company. MFL is in the process of hitting the primary markets with their initial public offering. To know whether this issue is good for investors, we checked the draft red herring prospectus. Based on the DRHP let’s post our Milestone Furniture Limited IPO Review for you.

About Milestone Furniture Limited IPO :

  • IPO Opens on – May 07, 2018.
  • IPO Closes on – May 11, 2018.
  • Face Value – Rs. 10 Per Equity Share.
  • Issue Price – Rs. 45 Per Equity Share.
  • Issue Type – Fixed Price Issue IPO.
  • Market Lot – 3000 Shares.
  • Minimum Order Quantity – 3000 Shares.
  • Issue Size – 3,297,000 Equity Shares of Rs 10 aggregating up to Rs 14.84 Cr.
  • Listing Exchange – BSE SME Exchange.
  • Draft Prospectus – Download.

Objectives of the issue:

  • To set up the manufacturing facility to manufacture the modular and innovative furniture.
  • Working Capital Requirement.
  • General Corporate Expenses.
  • To meet the expenses of the Issue.

About The Company –

  • Milestone Furniture Limited is incorporated in 2014.
  • This company has developed expertise in Space & workstation Management.
  • Also this company is designing and innovation in Furniture used in Education, Healthcare and Corporate organization.
  • Milestone Furniture Limited is also developed the In-house technical & Design team to provide turnkey solutions and implementation of interior and workspace in Commercial, Residential and Institutions.
  • MFL has managed to develop an In-house professional’s team for designing, drawing and space management interiors suitable for client needs.
  • Milestone Furniture Limited has a high tech manufacturing equipment and Design facility to manufacture the various combination and size products in Sakinaka, Mumbai.
  • This company currently has 70 employees on its payroll.

Milestone Furniture Limited

Milestone Furniture Limited

Milestone Furniture Limited

Milestone Furniture Limited

Milestone Furniture Limited

Promoters of the company :

  • Mr. Digamber Sudam Songhare, is the Promoter of this company.
  • Mr. P. S. Ganeshkumar, is the other Promoter of this company.

Company Financials:Milestone Furniture Limited IPO

Milestone Furniture Limited IPO

Milestone Furniture Limited IPO Review: MFL has shown a steady increase in their profits over the financial years 2014 to 2017. However, the financial results have some question marks too as it looks to good to believe in some cases. The PE ratio at the issue price of Rs. 45 per equity share is calculated to be at 34 while the industry PE is around twenty. So, the issue looks to be over-priced at this moment. Hence, our Milestone Furniture Limited IPO Review has a NEUTRAL view on this issue. Risk takers and long-term investors, though, can try investing in MFL at their own risk.

Ankita has done her Diploma Engineering in Computer Science & Technology. She is learning blogging and content writing as well as she is learning the foundations of the stock market and broking industry. She is the latest addition to our team and has a promising career ahead.



Categories: IPO Review

Tags: , , , ,

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.