Eleganz Interiors IPO Day 1: NSE SME issue fully booked on strong retail demand; check offer size, price band and other key details

The initial public offering (IPO) of interior design solutions provider Eleganz Interiors Limited opened to a strong response from investors on Friday, February 7. The NSE SME issue was fully subscribed on the first day, led by high retail demand.

The NSE SME issue received bids for over 52.21 lakh shares against 39.94 lakh shares on offer, leading to a subscription of 1.3 times.

Retail individual investors subscribed their portion 1.98 times, with bids for 39.69 lakh shares against the allocation of 19.97 lakh shares. The Non-institutional investors (NIIs) applied for 11.36 lakh shares compared to 8.56 lakh shares set aside for them. The NIIs booked their category 1.32 times. The Qualified Institutional Buyers (QIBs) applied only for 1.16 lakh shares against the allocation of 11.41 lakh shares.

Ahead of the launch of the IPO, Eleganz Interiors raised ₹22.23 crore from anchor investors.

Here is a look at all the key details about the IPO:

Eleganz Interiors IPO price band and other details

The NSE SME issue of Eleganz Interiors Ltd comprises entirely a fresh issue of 60.05 lakh shares, offered at a price band of ₹123 to ₹130 per piece. The total offer size of the IPO stands at ₹78.07 crore.

Retail investors can bid in the IPO for at least a single lot size of 1,000 shares, aggregating to a minimum investment of ₹1.3 lakh per application.

Eleganz Interiors Ltd has appointed Vivro Financial Services Private Ltd as the sole book-running lead manager and Bigshare Services Pvt Ltd as the registrar for the issue. Rikhav Securities Ltd is the market maker for this NSE SME issue.

Eleganz Interiors IPO key dates

The subscription window for the Eleganz Interiors IPO will remain open till Tuesday, February 11. The company is expected to finalise the allotment of shares on February 12 followed by the credit of shares into the Demat account of successful bidders on February 13. The company will also process refunds for the unsuccessful bidders on the same day.

Shares of the company Ltd are proposed to be listed on the NSE SME platform on February 14.

About Eleganz Interiors and use of IPO proceeds

Eleganz Interiors Ltd provides interior fit-out solutions that specialise in bespoke, functional and aesthetically pleasing corporate and commercial spaces across India. Its expertise spans from designing and planning to project execution, ensuring high-quality delivery of corporate offices, R&D facilities, laboratories, flexible workspaces, and commercial retail spaces. The company offers a range of services, including Design & Build (D&B) and General Contracting (GC) services, as per the requirements of its clients.

The company has proposed to use the net proceeds from the IPO for settlement of its and funding of working capital requirements. A portion of the money will also be used for general corporate purposes.

The company saw revenue from operations of ₹192.09 crore with a profit after tax (PAT) of ₹9.53 crore in the first half of FY25.

Its revenue from operations stood at ₹221.29 crore along with a net profit of ₹12.2 crore in FY24.

As of December 31, 2024, Eleganz Interiors Limited's order book included 47 ongoing projects with 40 lakh sq ft of development area. The contract value stood at ₹434.86 crore.