Omfurn India FPO IPO – Open and Close Date, Reservation, Lot Size, How to apply?

The subscription window for Omfurn India FPO commences on March 20, 2024, concluding on March 22, 2024, with the allotment expected to be determined by Tuesday, March 26, 2024.

Omfurn India FPO IPO

The subscription window for Omfurn India FPO runs from March 20 to March 22, 2024, with the final allotment expected on March 26, 2024. Its listing on NSE SME is anticipated for March 28, 2024.

Priced between ₹71 to ₹75 per share, the minimum lot size for retail investors is 2400 shares, requiring a minimum investment of ₹180,000, while for HNIs, the minimum investment is 2 lots (4,800 shares) totaling ₹360,000.

Omfurn India FPO Reservation

The Omfurn India FPO followed the reservation guidelines set forth by the Securities and Exchange Board of India (SEBI) for SME public offerings.

• Total Issue Size: 3,600,000 Shares

Reservation Categories

Qualified Institutional Buyers (QIBs):

• Not more than 50% of the Net Issue Size.
• In this case, QIBs could be allocated a maximum of 1,800,000 shares (50% of 3,600,000).

Retail Individual Investors:

• Not less than 35% of the Net Issue Size.
• Retail investors were guaranteed a minimum of 1,260,000 shares (35% of 3,600,000).

Non-Institutional Investors (NIIs) – Typically High Networth Individuals (HNIs):

• Not less than 15% of the Net Issue Size.
• NIIs could be allocated a minimum of 540,000 shares (15% of 3,600,000).

Omfurn India FPO Lot Size

The Omfurn India FPO followed a fixed lot size mechanism for subscribing to the shares.

This implies that investors had to bid for a minimum of 2400 shares and in multiples of 2400 thereafter.

• Retail investors could only apply for a minimum and maximum of 1 lot (2400 shares) irrespective of the total investment amount.
• HNI investors had more flexibility. They could apply for a minimum of 2 lots (4800 shares) and multiples thereof.

Omfurn India FPO Promoter Holding

The Omfurn India FPO will result in a dilution of the promoter holding in the company. Here’s a detailed breakdown:

Promoters:

• Mr. Rajendra Chitbahal Vishwakarma
• Mr. Mahendra Chitbahal Vishwakarma
• Mr. Narendra Chitbahal Vishwakarma
• Mr. Prashant Rajendra Vishwakarma
• Mr. Parmanand Mahendra Vishwakarma

Pre-Issue Promoter Holding: 73.40%

• This signifies that before the FPO, the promoter group collectively held 73.40% of the outstanding shares of Omfurn India.

Post-Issue Promoter Holding: 50.96%

• The FPO is a fresh issue of shares, meaning the company will be issuing new shares to raise capital. 
• This will dilute the existing ownership percentage of all shareholders, including promoters. 
• After the FPO, the promoter group’s holding is expected to decrease to approximately 50.96%.

Omfurn India FPO Anchor Investor Details

Omfurn India successfully secured a portion of their FPO issue through anchor investors. 

• Anchor Investor Bid Date: March 19, 2024
• Shares Offered to Anchor Investors: 1,024,800 Shares
• Amount Raised from Anchor Investors: ₹7.69 Crore

Anchor Investor Lock-in Period

• Anchor investors are typically institutional investors who subscribe to a specific portion of the IPO/FPO before the public offering. 
• In return for their early commitment, they are subject to a lock-in period where they cannot sell their allotted shares.

Applying for Omfurn India FPO 

These steps provide a general guide for applying for future IPOs/FPOs through a broker website:

• Visit your broker’s website and log in using your unique credentials.

• Visit to the section dedicated to IPOs/FPOs.exclamation.

• Search for the Omfurn India FPO row and click the bid button.

• Once you’ve reviewed the prospectus (for future use), proceed with submitting your bid. Here, you’ll specify:
  • The number of shares you wish to apply for.
  • The price you’re willing to pay (applicable for book-built issues).
• Choose your preferred payment method, typically UPI (Unified Payments Interface) Ensure sufficient funds are available in your linked bank account.

• Upon successful application submission, you’ll receive a confirmation message from your broker.