Eleganz Interiors files IPO papers with NSE Emerge

Leading interior fit-out solutions provider Elegance Interiors on Saturday said it has filed draft papers with NSE Emerge to raise funds through an initial public offer. The initial public offering (IPO) is a fresh issue of up to 60.05 lakh shares, each with a face value of Rs. is 10.

According to the draft red herring prospectus, the company’s shares will be listed on National Stock Exchange (NSE) Emerge’s SME platform.

Vivaro Financial Services is the sole book-running lead manager, while Bigshare Services is the registrar for the IPO.

Mumbai-based Eleganz is looking to expand its presence in these key regions to leverage its existing footprint and further strengthen its market position.

Rs. 25 crore worth of issue to be used by the company to repay outstanding debt and Rs. 30 crore will be used to fund working capital requirements.

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 across India. Its expertise includes corporate offices, research and development facilities, laboratories, airport lounges, flexible workspaces and commercial retail spaces.

The company is headed by Sameer Akshay Pakwasa, a founding member of IGBC (Indian Green Building Council), which is actively involved in promoting the green building concept in India and has received Platinum and Gold “LEED” certifications for several projects implemented. for its customers.

In the first quarter of the current financial year ending June 2024, Eleganz posted Rs. 3.85 crore with a profit (PAT) of Rs. 80.76 crore revenue was generated.

For FY24, the company has Rs. 221.29 crore revenue and Rs. 12.2 crore in profit (PAT).