Eleganz Interiors Limited, a company engaged in providing interior fit-out solutions for corporate offices, R&D facilities, laboratories, airport lounges, and commercial retail spaces, has launched its Initial Public Offering (IPO) today, February 7, 2025. The IPO subscription will remain open until February 11, 2025, offering investors a chance to participate in this growing business segment.

Eleganz Interiors IPO Details

The IPO is a book-built issue amounting to ₹ 78.06 crore, consisting entirely of a fresh issue of 60.05 lakh shares. The price band is set at ₹ 123 to ₹ 130 per share, and the company is expected to be listed on NSE SME on February 14, 2025. The market capitalization at the upper price band is projected to be ₹ 293.79 crore.

Lot Size & Investment Requirements

The minimum investment for retail investors is set at 1 lot (1,000 shares) amounting to ₹ 1,30,000, while High-Net-Worth Individuals (HNIs) must apply for at least 2 lots (2,000 shares) at ₹ 2,60,000.

Book Running Lead Manager, Registrar & Market Maker

• Book Running Lead Manager: Vivro Financial Services Private Limited

• Registrar: Bigshare Services Private Limited

• Market Maker: Rikhav Securities Limited

Grey Market Premium (GMP) Analysis

As per market experts, the Grey Market Premium (GMP) of Eleganz Interiors IPO is ₹ 28, implying an expected listing price of ₹ 158 per share, translating into potential listing gains of 21.53%. However, investors should note that GMP is unofficial and subject to market conditions.

IPO Subscription Status

As of 11:00 AM on February 7, 2025, the IPO has been subscribed 0.32 times on the first day of its subscription period. Investors can track real-time subscription updates on NSE.

Financial Performance & Valuation

Eleganz Interiors has shown consistent revenue growth, with revenues from operations recorded at:

• ₹ 19,240.20 lakh for the period ended September 30, 2024

• ₹ 22,308.65 lakh in FY 2024

• ₹ 19,117.14 lakh in FY 2023

• ₹ 15,534.26 lakh in FY 2022

The EBITDA figures have also increased from ₹ 830.56 lakh in FY22 to ₹ 2,160.55 lakh in FY24, and the Profit After Tax (PAT) grew from ₹ 509.38 lakh in FY22 to ₹ 1,220.58 lakh in FY24.

IPO Valuation Metrics

• Pre-Issue EPS: ₹ 7.95 | Post-Issue EPS: ₹ 5.40

• Pre-Issue P/E Ratio: 16.35x | Post-Issue P/E Ratio: 24.07x

• ROCE: 24.23% | ROE: 26.96% | RoNW: 26.96%

• Annualized EPS: ₹ 11.78 | P/E Ratio: 11.03x

IPO Allotment Status & Listing Date

The Eleganz Interiors IPO allotment will be finalized on February 12, 2025, and investors can check their allotment status online by entering their application number, PAN, or DP Client ID on the registrar’s website. The listing is expected on NSE SME on February 14, 2025.

Should You Apply for Eleganz Interiors IPO?

Considering the steady financial performance, reasonable valuations, and a GMP indicating potential listing gains, risky investors looking for short-term listing gains can consider applying. However, investors should assess their risk appetite before investing.

The Upcoming IPOs in this week and coming weeks are PS Raj Steels, Chandan Healthcare, Ajax Engineering, Voler Car, Maxvolt Energy, Hexaware Technologies.

The Current active IPO are Eleganz Interiors, Readymix Construction, Solarium Green, Ken Enterprises, Amwill Healthcare.

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