Omfurn India FPO (follow-on public offer),which opened for subscription on Wednesday, March 20 and will close today (Friday, March 22). The FPO on the last day of bidding has been subscribed 3.57 times, as per data available on chittorgarh.com. The FPO ‘s price band has been set in the range of ₹71 to ₹75 per equity share. The floor price is 7.1 times of the face value and cap is 7.5 times of the face value of the equity shares. Investors can bid for a minimum of 2,400 equity shares.
The FPO has allocated 50% of the net issue for the qualified institutional buyers (QIBs), the retail investors have been reserved 35% of the issue, and non-institutional investors (NIIs) have been allocated 15% of the issue. Up to 1,80,000 equity shares or 5% of the issue has been reserved for the market maker.
Companies that have made enough funds by initially releasing their shares in initial public offerings (IPOs) may issue further shares through follow-on offerings (FPOs).
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Omfurn India Limited is an Indian producer and provider of pre-finished wooden doors and modular furniture, according to the company’s Red Herring Prospectus (RHP). Through customised, system-based, or turnkey projects, Pan India creates a wide range of wooden doors and furniture for Modular Kitchens, Wardrobes, Vanities, and Modern Office furniture. The firm was listed on the NSE in 2017.
On Friday’s session, Omfurn India share price closed nearly 1% lower at ₹81.90 apiece on NSE SME. Omfurn India stock price jumped by 89.53% over the previous year, outperforming its industry by 51.58%, according to trendlyne data.
Also Read: Aluwind Architectural IPO announces price band at ₹45 apiece; issue to open on March 28
Omfurn India FPO details
Omfurn India FPO, worth ₹27 crore, consists of a fresh Issue of up to 36,00,000. The proceeds will be used by the business to finance working capital needs, capital expenditures for the installation of equipment and plant in their current location as well as necessary electrical, plumbing, and fabrication work; repayment or prepayment, in full or in part, of certain loans that the business has taken out; and general corporate purposes.
Bigshare Services Pvt Ltd is the issue registrar, and Gretex Corporate Services Limited is the book running lead manager of the Omfurn India FPO. Gretex Share Broking is the market maker for Omfurn India FPO.
Omfurn India FPO subscription status
Omfurn India FPO subscription status is 3.57 times, on Day 3. The retail portion saw huge demand all through three-day subscription and its subscribed 6.33 times on day 3. The NII portion has been booked 3.02 times and QIB portion is subscribed 1 time.
The company has received bids for 1,03,10,400 shares against 28,84,800 shares on offer, according to data on chittorgarh.com.
Omfurn India FPO was booked 39% on day 1 and 1.63 times on day 2.
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Published: 22 Mar 2024, 04:41 PM IST