IPO Details

Bidding Dates

07 Feb '25 - 11 Feb '25

Minimum Investment

₹1,30,000 / 1 Lot (1,000 Shares)

Price Range

₹123-₹130

Maximum Investment

₹1,30,000 / 1 Lot (1,000 Shares)

Retail Discount

To be announced

Issue Size

₹78.07 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

Eleganz Interiors IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Feb 07, 25

IPO Closing Date

Feb 11, 25

Basis of Allotment

Feb 12, 25

Initiation of Refunds

Feb 13, 25

IPO Listing Date

Feb 14, 25

About Eleganz Interiors IPO

Eleganz Interiors IPO is set to raise ₹78.07 crore through a fresh issue of 60.05 lakh shares. The IPO will open for subscription on February 7, 2025, and close on February 11, 2025. The allotment is expected to be finalised on February 12, 2025, with a tentative listing date on NSE SME scheduled for February 14, 2025.

The price band for Eleganz Interiors IPO is set between ₹123 and ₹130 per share. Retail investors can apply with a minimum lot size of 1,000 shares, requiring an investment of ₹1,30,000. High Net-Worth Individuals (HNIs) need to apply for at least two lots, amounting to ₹2,60,000.

Vivro Financial Services Private Limited is managing the IPO as the book-running lead manager, while Bigshare Services Pvt Ltd is the registrar. Rikhav Securities Limited is acting as the market maker. Investors looking for detailed insights should refer to the company's Red Herring Prospectus (RHP) before making investment decisions.

Industry Outlook

  1. The Indian office fit-out market surged from ₹154 billion in 2020 to ₹277 billion in 2023 and is projected to reach ₹805 billion by 2030, growing at a CAGR of 16.5%. This rapid growth is driven by increasing office leasing, changing workplace designs, and a shift toward flexible workspaces.
  2. India's office leasing space expanded from 39.4 million sq. ft. in 2020 to an expected 69.4 million sq. ft. in 2024. The demand for modern office interiors is rising, driven by IT, e-commerce, and BFSI sectors, especially in Tier 1 and Tier 2 cities.

Eleganz Interiors IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. A portion of the funds will be used to partially or fully repay certain borrowings, reducing financial liabilities and improving the company's financial stability.
  2. The issue proceeds will support day-to-day operations, ensuring smooth business functions and improved cash flow management.
  3. The remaining funds will be used for general corporate purposes.

About Eleganz Interiors Limited 

Eleganz Interiors Limited specializes in providing interior fit-out solutions for corporate and commercial spaces across India. The company transforms work environments, including corporate offices, R&D facilities, laboratories, airport lounges, flexible workspaces, and retail spaces, with a focus on aesthetics and functionality. Services range from bare-shell fit-outs to fully furnished commercial spaces, ensuring customised solutions that meet diverse business needs.

The company offers Design & Build (D&B) and General Contracting (GC) services. The D&B model covers end-to-end solutions, including design, project execution, procurement, and post-project support. GC services include civil, mechanical, electrical, and finishing work, ensuring seamless project execution. With expertise in design, construction, and resource management, the company delivers high-quality results while optimising budgets.

Over the last 3 financial years and up to September 2024, Eleganz Interiors Limited has successfully completed over 200 projects, covering more than 45 lakh sq. ft. As of December 2024, the company is handling 47 ongoing projects across 12 cities, with a total contract value of ₹43,486.33 lakh. A strong focus on client satisfaction has resulted in a high percentage of repeat business, with revenue from existing clients consistently contributing a significant share.

The company serves diverse industries, including IT, manufacturing, BFSI, pharmaceuticals, FMCG, real estate, and renewable energy. As a founding member of the Indian Green Building Council, it actively promotes sustainable design, achieving platinum and gold LEED certifications for multiple projects. 

How To Check the Allotment Status of Eleganz Interiors IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for the Eleganz Interiors IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Eleganz Interiors IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Eleganz Interiors IPO 

Registered office: Gala Nos. 1-7, Ground Floor, Sarita 'B', Prabhat Industrial Estate, W. E. Highway, Dahisar (E), Mumbai, Maharashtra, India, 400068.

Phone: +91- 22- 28960081

E-mail: cs@eleganz.co.in

Eleganz Interiors IPO Reservation

Investor Category

Shares Offered

QIB Shares

Not more than 50% of the net issue

Retail Shares

Not less than 35% of the net issue

NII (HNI) Shares

Not Less than 15% of the net issue

Eleganz Interiors IPO Lot Size

Application

Lots

Shares

Amount

Retail (Min)

1

1,000

₹1,30,000

Retail (Max)

1

1,000

₹1,30,000

HNI (Min)

2

2,000

₹2,60,000

Eleganz Interiors IPO Promoter Holding

Sameer Akshay Pakvasa is the promoter of the company.

Share Holding Pre-Issue

93.94%

Share Holding Post Issue

-

Key Performance Indicators for Eleganz Interiors IPO

As of March 31, 2024, the market capitalisation of Eleganz Interiors's IPO is ₹293.80 crore. Here are the KPIs of Eleganz Interiors:

KPI

Value

RoE (%)

26.96%

RoCE (%)

24.23%

Debt/Equity

0.83

PAT Margin

5.52

Price Metrics

Metric

Pre-IPO

Post-IPO

EPS (₹)

7.36

8.44

P/E (x)

17.67

15.41

Note: Pre-IPO EPS is based on pre-issue shareholding as per the RHP and FY earnings as of March 31, 2024. Post-IPO EPS is based on post-issue shareholding and annualized FY earnings as of September 30, 2024, as per the RHP.

Eleganz Interiors IPO Prospectus

Eleganz Interiors IPO Registrar and Lead Managers

Eleganz Interiors IPO Lead Managers

  • Vivro Financial Services Private Limited

Registrar for Eleganz Interiors IPO

Bigshare Services Pvt Ltd

Eleganz InteriorsIPO Registrar

Financial Performance of Eleganz Interiors Limited

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 22,129.19 19,025.86 15,383.03
Profit After Tax (PAT) (in ₹ lakh) 1,220.58 1,031.13 509.38
EPS (Earnings per Share in ₹) 7.95 6.71 3.32
Total Borrowings (in ₹ lakh) 4,279.54 2,822.77 2,262.05
Return on equity (%) 26.96 30.32 19.64
Return on capital employed (%) 24.23 21.46 15.34
EBITDA (in ₹ lakh) 1,981.10 1,334.38 679.33
Current Ratio (x) 1.37 1.45 1.27

Know before investing

Strengths

5

  1. Eleganz Interiors Limited has a skilled team of 155 designers and engineers.

  2. The company successfully completed 200+ projects covering over 45 lakh Sq Ft.

  3. Strong presence across key cities in India with international expansion.

  4. ISO-certified company with a focus on quality and sustainability.

  5. Executing 47 ongoing projects worth ₹ 70,589.66 lakh as of December 2024.

Risks

5

  1. Past order trends and current growth rate may not predict future demand.

  2. Delays in project execution can lead to revenue and cost overruns.

  3. Loss of repeat clients could negatively impact financial stability.

  4. Dependence on a few clients increases the risk of revenue loss.

  5. Lack of long-term contracts makes client retention uncertain.

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Eleganz Interiors IPO FAQs

What is the Eleganz Interiors IPO?

Eleganz Interiors IPO is a book-built issue IPO. It will be open from February 7, 2025, to February 11, 2025.

When will Eleganz Interiors IPO be allotted?

The Basis of Allotment will happen on Wednesday, February 12, 2025.

When will Eleganz Interiors IPO open for subscription?

The IPO subscription window will open on  February 7, 2025.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,000 shares.

When will Eleganz Interiors and Infra Solutions Limited list on exchanges?

The listing date for Eleganz Interiors Limited is Friday, February 14, 2025.

What is the issue size of Eleganz Interiors IPO?

The issue size of the Eleganz Interiors IPO is up to ₹78.07 crore, with a fresh issue of ₹78.07 crore.

What are the open and close dates of the Eleganz Interiors IPO?

The open and close dates for Eleganz Interiors IPO are from February 7, 2025, to February 11, 2025.

What would be the listing gains on Eleganz Interiors IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting an Eleganz Interiors IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Eleganz Interiors IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Eleganz Interiors Limited using one PAN?

You can submit only one application using your PAN card.

How to read Eleganz Interiors and Infra Solutions Limited's financial statements?

To read Eleganz Interiors and Infra Solutions Limited’s financial statements, download the IPO’s  RHP document.

What is 'pre-apply' for the Eleganz Interiors IPO?

Pre-apply allows investors to apply for the  Eleganz Interiors IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the Eleganz Interiors Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my Eleganz Interiors Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of Eleganz Interiors IPO?

Bigshare Services Pvt Ltd is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is Eleganz Interiors IPO getting listed?

Eleganz Interiors IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).