Eleganz Interiors IPO Day 1: Latest GMP, subscription status, listing date & other details about SME IPO

Eleganz Interiors IPO: The IPO of Eleganz Interiors, which opened for bidding today, February 07, saw healthy investor interest, with the issue being subscribed to 0.56 times as of 01:00 p.m., according to exchange data.

The retail investor segment was subscribed 0.94 times, while the non-institutional investor (NII) category received a 0.44 times subscription. Meanwhile, the qualified institutional buyer (QIB) segment did not receive any bids on Day 1 so far.

The company plans to utilise the gross proceeds from the issue for multiple strategic objectives. A portion of the funds will be allocated toward the full or partial repayment of certain borrowings to strengthen its financial position.

Additionally, the proceeds will be used to meet working capital requirements, ensuring smooth business operations and liquidity. The remaining amount will be directed toward general corporate purposes, as per company’s DRHP report. 

Eleganz Interiors issue details

1. Eleganz Interiors IPO date: The issue opened for subscription on Friday, February 7, and will conclude on Tuesday, February 11.

2. Eleganz Interiors IPO Price: The price band of the public issue has been fixed at ₹123 to ₹130 per equity share.

3. Eleganz Interiors IPO Size: The company aims to raise ₹78.07 crore through the IPO, which is a fresh issue of 60.04 lakh shares.

4. Eleganz Interiors IPO Lot Size: The IPO lot size has been fixed at 1000 shares, requiring a minimum investment of ₹130,000 for retail investors.

5. Eleganz Interiors IPO reservation: The issue reserved 50% to qualified institutional buyers, 15% to non-institutional buyers, and 35% to retail investors.

6. Eleganz Interiors IPO allotment date: The IPO allotment date is set for Wednesday, February 12. Investors who receive an allotment will see the shares in their demat accounts by Thursday, February 13, while those who do not will have their refunds processed on the same day.

7. Eleganz Interiors IPO listing: The SME IPO is proposed to list on the NSE SME on Friday, February 14.

8. Eleganz Interiors IPO GMP: According to market sources, the GMP of the Eleganz Interiors IPO on Tuesday was ₹35, suggesting that the stock may list ₹35 above the issue price of 130, which is at ₹165.

9. Eleganz Interiors book-running lead manager and registrar: Vivro Financial Services Private Limited is the book-running lead manager of the Eleganz Interiors IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for the Eleganz Interiors IPO is Rikhav Securities Limited.

10. Eleganz Interiors business overview: The company is engaged in the business of interior solutions for corporate, laboratories, airport lounges, etc. It specializes in providing fit-out solutions for corporate and commercial spaces, including corporate offices, research and development facilities, laboratories, airport lounges, flexible workspaces, and commercial retail spaces.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.