Eleganz Interiors fixes IPO price band at Rs 123-130 per share; issue to open on February 7

Eleganz Interiors, a provider of interior fit-out solutions, on Tuesday said it has fixed a price band at Rs 123-130 per share for the Rs 78 crore initial public offering, which will hit capital markets on February 7. The initial share sale will conclude on February 11 and the shares of the firm will be listed on the NSE's SME platform Emerge, the company said in a statement.

Investors can bid for a minimum of 1,000 shares and in multiples thereof, it added.

The Initial Public Offering (IPO) is entirely a fresh issue of 60.05 lakh equity shares with a face value of Rs 10 each, offered through the book-building process.

At the end of the upper price band, the company will raise about Rs 78.07 crore from the public issue.

Proceeds from the public issue will be used to repay debt, 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.

As of December 31, 2024, the company's order book includes 47 ongoing projects with a total contract value of Rs 434.86 crore, covering approximately 40 lakh sq ft of development.

In the first half of the current fiscal year (ending September 2024), Eleganz Interiors reported revenue from operations of Rs 192.09 crore and a profit after tax (PAT) of Rs 9.53 crore.

In FY24, the company's revenue from operations stood at Rs 221.29 crore and a PAT of Rs 12.2 crore.

Vivro Financial Services is the sole book running lead manager, and Bigshare Services is the registrar to the issue.