Eleganz Interiors Limited (“Eleganz” or “the Company”), a leading provider of interior fit-out solutions in India, announced the filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The initial public offering comprises fresh issuance of 60,05,000 Equity Shares, each with a face value of ₹10.
Vivro Financial Services Private Limited is the sole Book Running Lead Manager to the Issue, and Bigshare Services Private Limited is the Registrar.
Eleganz operates through branch offices in Bangalore, Pune, Hyderabad, Gurugram, Ahmedabad, and Chennai. Eleganz intends to leverage its existing footprint and expand its presence in these key regions to further solidify its market position. The Company plans to utilize ₹25 crores to repay outstanding debt and ₹30 crores to fund working capital needs. The remaining funds will be used for general corporate purposes.
Eleganz offers a comprehensive suite of interior fit-out solutions for corporate and commercial spaces throughout India. Their expertise encompasses corporate offices, research & development facilities, laboratories, airport lounges, flexible workspaces, and commercial retail spaces. Their services are designed to create captivating and functional environments that elevate the aesthetic and functionality of workspaces.
Eleganz Interiors provides a range of solutions, from bare shells to fully furnished spaces. They offer both Design & Build (D&B) and General Contracting (GC) services. Under D&B, they handle the entire project lifecycle, from design and planning to execution and handover. GC services encompass various aspects of construction, including civil and interior works, mechanical and electrical work (including HVAC), and final refinements.
Eleganz Interiors is a founding member of the IGBC (Indian Green Building Council), which is actively involved in promoting the green building concept in India and has obtained platinum and gold “LEED” certifications for some of the projects executed for its clients. These affiliations have strengthened the Company’s commitment to sustainable and innovative design practices while enabling it to tap into valuable networks and resources within the industry.
Eleganz Interiors is led by Mr. Sameer Akshay Pakvasa, who represents the second generation of leadership and builds upon the legacy of his father’s 50+ years of experience in the industry. Mr. Pakvasa, with his two decades of experience, spearheads the Company’s operations alongside a team of over 166 experienced and qualified engineers, architects, designers, and project management professionals (as of September 30, 2024). This team provides expertise in all critical aspects of project delivery.
In the first quarter of the current financial year ending June 2024, Eleganz generated revenue of ₹80.76 crores with a profit (PAT) of ₹3.85 crores. For FY24, Eleganz Interiors reported revenue of ₹221.29 crores and a profit (PAT) of ₹12.2 crores.
