Mumbai-headquartered Eleganz Interiors, is one of the leading providers of interior fit-out solutions in India and is on the way to launch its Initial Public Offering (IPO) on NSE Emerge.
The company has filed its Draft Red Herring Prospectus (DRHP) and is thriving into the market with an IPO which will include a fresh issue of 60,05,000 equity shares, each with a face value of Rs 10.
Fund Utilisation
The fund raised from its IPO, Eleganz Interiors plans to utilise it to enhance their business operation. Breakdown of the fund utilisation are as follows: Approximately Rs 25 crores will go toward repaying a portion of the company’s outstanding borrowings. Then, another Rs 30 crores will be allocated to meet the company’s growing working capital needs and the remaining funds will be used for general corporate purposes.
Financial Performance
Coming to the financial performance, Eleganz Interiors in the first quarter of the current financial year ended June 2024, reported Rs 80.76 crores in revenue and a profit of Rs 3.85 crores. This upward trajectory continued with Rs 221.29 crores in revenue and Rs 12.2 crores in profit after tax in FY24.
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About the Company
The company was founded in 2001 and offers specialised solutions to businesses seeking modern and efficient spaces. From corporate offices to airport lounges, laboratories, and commercial retail spaces, the company’s services cover a wide range of interior fit-out needs.
Eleganz Interiors specialises in two main service categories which include the Design & Build (D&B), and General Contracting (GC).
The Company operates through its branch offices at Bangalore, Pune, Hyderabad, Gurugram, Ahmedabad and Chennai.
Registrar and Lead Managers
The sole Book Running Lead Manager to the Issue is Vivro Financial Services Private, and Bigshare Services Private will act as the Registrar.
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