Eleganz Interiors, 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 Rs 780.06 million and list on the NSE Emerge platform. The price band has been fixed at Rs 123-130 per share, with a lot size of 1,000 equity shares.

The IPO consists of a fresh issue of 60.05 lakh equity shares with a face value of Rs 10 each, offered through the book-building process. Vivro Financial Services is the sole Book Running Lead Manager, and Bigshare Services 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 Rs 250 million from the IPO proceeds to repay a portion of its outstanding borrowings, Rs 300 million for working capital requirements, and the remaining funds for general corporate purposes.

Eleganz Interiors specialises 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 on-going projects with a total contract value of Rs 4.34 billion, 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 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 Rs 1.92 billion and a profit (PAT) of Rs 90.53 million. In FY24, the company achieved revenue from operations of Rs 2.21 billion and a profit (PAT) of Rs 120.2 million.