Mumbai, February 4, 2025: Eleganz Interiors Limited, a leading provider of interior fit-out solutions in India, today announced its initial public offering (IPO) will open for subscription on Friday, February 7, 2025, and close on Tuesday, February 11, 2025. The anchor book will open on Thursday, February 6, 2025. The company aims to raise ₹78.06 crore and list on the NSE Emerge platform. The price band has been fixed at ₹123-130 per share, with a lot size of 1,000 equity shares.
| IPO details – Eleganz Interiors Limited | |
| Fresh Issue | 60,05,000 Equity Shares |
| Issue Size | ₹78.06 Crore (At the Upper Band) |
| Issue Type | Fresh Issue |
| Issue Price (₹) | 123 – 130 |
| Issue Opens on | Friday, February 07, 2025 |
| Anchor Book opens on | Thursday, February 06, 2025 |
| Issue closes on | Tuesday, February 11, 2025 |
| Reservation for Market Maker | 3,01,000 Equity Shares |
| Reservation for non-institutional | 8,56,000 Equity Shares |
| Reservation for Qualified Institutional Investors | 28,51,000 Equity Shares |
| Reservation for Retail | 19,97,000 Equity Shares |
| Lot Size | 1,000 Equity Shares |
| Book Running Lead Manager | Vivro Financial Services Private Limited |
| Registrar to the issue | Bigshare Services Private Limited |
The IPO consists of a fresh issue of 60.05 lakh equity shares with a face value of ₹10 each, offered through the book-building process. Vivro Financial Services Private Limited is the sole Book Running Lead Manager, and Bigshare Services Private Limited is the Registrar to the Issue.
The allocation breakdown is as follows:
Market Maker: 3,01,000 shares
Non-Institutional Investors: 8,56,000 shares
Qualified Institutional Investors: 28,51,000 shares
Retail Investors: 19,97,000 shares
Eleganz Interiors plans to use ₹25 crore from the IPO proceeds to repay a portion of its outstanding borrowings, ₹30 crore for working capital requirements, and the remaining funds for general corporate purposes.
Eleganz Interiors specializes in crafting corporate and commercial spaces, including offices, R&D facilities, laboratories, airport lounges, flexible workspaces, and retail spaces. With a manufacturing facility in Mumbai and warehouses in Mumbai, Pune, and Bangalore, the company serves clients across India. As of December 31, 2024, its order book includes 47 ongoing projects with a total contract value of ₹434.86 crore, covering approximately 40 lakh sq ft of development.
The company also has branch offices in Bangalore, Pune, Hyderabad, Gurugram, Ahmedabad, and Chennai, and international presence through subsidiaries and associate companies in Rwanda and Singapore.
Eleganz Interiors is led by Mr. Sameer Akshay Pakvasa, a second-generation leader with two decades of experience in the industry. As of September 30, 2024, the company employed over 155 designers, architects, and engineers.
In the first half of the current fiscal year (ending September 2024), Eleganz Interiors reported revenue from operations of ₹192.09 crore and a profit (PAT) of ₹9.53 crore. In FY24, the company achieved revenue from operations of ₹221.29 crore and a profit (PAT) of ₹12.2 crore.
