Milestone Furniture Ltd

Milestone Furniture
About the Company:

Milestone Furniture is in the business of designing and manufacturing Furniture used in Education, Healthcare and Corporate organisations.

Company has developed In house technical & Design team to provide turnkey solution and implementation of interior and work space in Commercial, Residential and Institutions.

company has successfully executed turnkey projects for design, supply and implementation of Interiors and Modular furniture in Education, healthcare and corporate organisations.

Company also has ready to use furniture targeted to clients in Education, healthcare, hospitality, banking, insurance and Info tech companies.

Company offers a wide range of high quality modern day modular office furniture which includes modular office partition systems, office chairs, cabinets and Wardrobe, storage racks, storage systems, executive chairs, office workstations etc.

They also develop different types of furniture and caters to different industries encompassing office furniture, institutional furniture, service sector furniture and even furniture for residential purposes.

For service sector they design and develop furniture for hospitals, banks, spas, salons, colleges, schools, libraries, laboratories, and research institutes. They also supply furniture to IT companies in different parts of India, BPO offices and KPO offices.

company has well established and high tech manufacturing equipments and Design facility to manufacture the various combination and size products as per the specification and design of client.

Major Products manufactured & Offered by the Company as follows:

  • Call Centre \ Info tech \ Bank \ Insurance Furniture.
  • Conference Tables.
  • Workstation Furniture.
  • Commercial/ Office Furnitures.
  • Education/ School Furnitures.
  • Home Furnitures.
  • Modular kitchen.


Major Ongoing Projects & Value of Contract.

ongoing projects

Management Team:

  1. Mr. DIGAMBER SUDAM SONGHARE (Designation: Managing director)
  2. Mr. P. S. GANESHKUMAR (Designation: CEO & Executive Director)
  3. Mr. SHANTARAM PRAHLAD BADAI (Designation: Executive Director)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
Digambar Sudam Songhare 29,99,975 Rs. 22.65
P.S. Ganeshkumar 29,99,975 Rs. 22.65


Objectives of the Issue:

Fresh Issue: (Around Rs.14.83 cr)

  • 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


Financials of the Company:

(in Crores) FY 14 FY 15 FY 16 FY 17 30th Sept 17
Revenue  0.37 3.32   5.51  8.94  20.45
Net Profit  0.03  0.05  0.19 0.32   0.63


Peer Group Comparison:

peer group comparison

IPO Details:

Details Info
Issue Opens on 7th May 2018
Issue Closes on:. 11th May 2018
Issue Price Rs.45
Face Value Rs.10
Minimum Lot 3000
Minimum Investment Rs.1,35,000
Issue Constitutes 35.46%
Issue Size Rs.14.83 cr
Market Cap Rs.41.83 cr
Listing at BSE SME
Equity Shares Offered (Fresh) 32,97,000
Equity Shares Prior to the Issue 60,00,000
Equity Shares after the Issue 92,27,000


Subscription Details: (Will be Updated)

(Subscription-Category-Wise (no. of times) Till time : 06:00 PM) Shares Offered 7/5 8/5 9/5 10/5 11/5
HNI  15,66,000  0.81  0.81  0.81  0.81 0.90
Retail  15,66,000   1.71  2.23   2.48  3.45  6.88
Others   1,65,000   0.00  0.00  0.00  0.00  0.00
Employee     ——-  —-  —-  —-  —-  —-
TOTAL 32,97,000  1.19  1.44  1.57  2.02  3.70


Check IPO Allotment Status:

Karvy Website (Click on the below Link)


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Company Contact Info:
Milestone Furniture Ltd
1st Floor, Aslam Compound Shree Nagar,
Behind Boghul House, Chandivali Road,
Sakinaka Mumbai Mumbai City,
Maharashtra 400072
Tel No: +91 22 28581499/22 28578954
Email Id:


IPO Registrar Info:
Address – Karvy Selenium Tower B,
Plot 31-32, Gachibowli,
Financial District, Nanakramguda,
Hyderabad 500 032 . India.
Tel. No. – +91 40 6716 2222
Investor Email:


Lead Manager to the Issue:
Address – Monarch House, Opp.,
Ishwar Bhuvan, Commerce Six Road,
Navrangpura, Ahmedabad – 380014.
Tel. No. – 079 – 6600 0500/ 700
Investor Grievance Email: