Eleganz Interiors IPO had a weak debut on Friday, February 14, listing at ₹122 on NSE SME, a 6.15% discount from its IPO price of ₹130.
Eleganz Interiors’ IPO saw strong demand, subscribing 30.65 times overall. Qualified institutions led with 24.45x, non-institutional buyers at 60.42x, and retail investors at 21.44x. The IPO received 46,329 applications, with bids for 12.24 crore shares against 39.94 lakh offered, raising ₹1,591.59 crore.
Eleganz Interiors’ IPO had a last grey market premium (GMP) of ₹5, indicating an expected listing at ₹135. However, the stock debuted at ₹122, 6.15% below the issue price of ₹130, resulting in a negative listing against GMP expectations.
Overview of Contents
Details About Eleganz Interiors IPO
Eleganz Interiors’ ₹78.07 crore IPO opens on February 7 and closes on February 11, 2025. The price band is set at ₹123-₹130 per share, with a minimum investment of ₹1.3 lakh for retail investors and ₹2.6 lakh for HNIs. The allotment is expected on February 12, with listing on NSE SME on February 14. The IPO reserves 50% for QIBs, 15% for HNIs, and 35% for retail investors.
Funds Deployment
- Loan repayment
- Working capital
- General corporate purposes
About Company
Founded in 1996, Eleganz Interiors Limited is a leading name in the interior solutions industry, specializing in high-end fit-out projects for corporate offices, laboratories, airport lounges, and commercial spaces. The company offers comprehensive Design & Build (D&B) services, managing everything from concept to execution, along with General Contracting (GC) solutions covering civil, electrical, and mechanical work. With over 200 completed projects spanning 45 lakh square feet and 47 ongoing projects across 12 cities as of December 2024, Eleganz Interiors has established a reputation for excellence, innovation, and timely project delivery.
Backed by a skilled team of architects, engineers, and project managers, the company operates an in-house woodwork facility to ensure precision and customization in its offerings. Its key strengths include a diversified service portfolio, a strong presence in major economic hubs, and a commitment to sustainable practices. Under the leadership of promoter Sameer Akshay Pakvasa, Eleganz Interiors is poised for continued growth, making its IPO a promising opportunity for investors looking to tap into the expanding interior solutions market.
Finanacial Performance
As of September 30, 2024, Eleganz Interiors reported total assets of ₹233.99 crore, revenue of ₹192.40 crore, and a profit after tax of ₹9.53 crore. Net worth stood at ₹70.90 crore, with reserves of ₹54.31 crore and total borrowings of ₹31.70 crore. The company has shown consistent growth in assets, revenue, and profitability over the years.