Eleganz Interiors Limited has filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge for an IPO of 6,005,000 equity shares of INR 10 each. The INR 60 crore issue allocates INR 25 crore for debt repayment and INR 30 crore for working capital. Based in Mumbai, Eleganz offers interior fit-out solutions for corporate and commercial spaces, providing Design & Build (D&B) and General Contracting (GC) services. With branches in Bangalore, Pune, Hyderabad, and Chennai, the company aims to expand operations and strengthen its foothold in India's growing fit-out market.
Eleganz Interiors Limited, a provider of interior fit-out solutions in India, has announced the filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The company's initial public offering consists of the fresh issuance of 6,005,000 equity shares, each with a face value of INR 10. Vivro Financial Services Private Limited is the sole Book Running Lead Manager for the issue, while Bigshare Services Private Limited serves as the registrar.
Headquartered in Mumbai, the company offers interior fit-out solutions focusing on corporate and commercial spaces, including offices, research and development facilities, laboratories, airport lounges, flexible workspaces, and commercial retail spaces. Their services aim to create both functional and aesthetically pleasing spaces across India. By delivering interior fit-out solutions, the company enhances the design and functionality of workspaces.
The company's offerings range from bare shell to fully furnished commercial spaces. It provides Design & Build (D&B) services and General Contracting (GC) services. Under the D&B model, the company offers end-to-end services, including project design, shop drawings, resource planning, procurement of materials, project execution, final walkthroughs, project handover, and post-project support. Under GC services, the company covers civil and interior works such as plumbing, POP works, painting, carpentry, and polishing; mechanical and electrical work, including HVAC; and final refinements for full or partial projects.
As per the DRHP, the company plans to allocate INR 25 crores of the total IPO proceeds to repay a portion of its outstanding borrowings and INR 30 crores for its working capital requirements. The remaining funds will be used for general corporate purposes.
The company operates branch offices in Bangalore, Pune, Hyderabad, Gurugram, Ahmedabad, and Chennai, and plans to continue expanding its presence in these regions to drive business growth.
In conclusion, Eleganz Interiors' IPO marks a significant step in its expansion strategy. With a strong focus on corporate and commercial spaces, the company is poised to leverage the raised funds to reduce borrowings and support working capital. The continued expansion into key Indian cities is set to drive growth and strengthen its position in the competitive interior fit-out market.
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