Eleganz Interiors Submits IPO Draft Papers To NSE Emerge

Mumbai-based Eleganz Interiors, a provider of interior fit-out solutions, has filed draft papers with NSE Emerge to raise funds through an Initial Public Offering (IPO). The IPO consists of a fresh issuance of up to 60.05 lakh equity shares, each with a face value of ₹10, according to the company’s Draft Red Herring Prospectus (DRHP). The shares will be listed on the SME platform of the National Stock Exchange (NSE) Emerge.

IPO Details & Fund Allocation

Vivro Financial Services has been appointed as the sole book-running lead manager for the issue, while Bigshare Services will act as the registrar. Eleganz plans to utilise ₹25 crore from the IPO proceeds to repay outstanding debt and ₹30 crore to meet working capital requirements. The remaining funds will be allocated for general corporate purposes.

Company Overview

Eleganz Interiors is into providing interior fit-out solutions across corporate and commercial spaces in India. The company’s portfolio includes projects for corporate offices, research and development facilities, laboratories, airport lounges, workspaces, and commercial retail spaces. Over the years, it has established itself in the interior design segment catering to a range of clientele.

The company is headed by Sameer Akshay Pakvasa, a founding member of the Indian Green Building Council (IGBC). Under his leadership, Eleganz has delivered projects recognised with platinum and gold LEED certifications.

Financial Performance

In the first quarter of FY25 (ending June 2024), Eleganz reported a revenue of ₹80.76 crore and a profit after tax (PAT) of ₹3.85 crore. For the full financial year FY24, the company achieved a revenue of ₹221.29 crore with a PAT of ₹12.2 crore.

Eleganz Interiors’ IPO marks its entry into the public market, aiming to raise funds for debt repayment and business expansion. The company’s presence in the interior fit-out segment, combined with its financial performance, positions it to leverage the SME platform for growth opportunities.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.