Eleganz Interiors Files IPO on NSE Emerge
Dec 14, 2024 16:07
Eleganz Interiors, a leading interior fit-out solutions provider, has filed IPO papers with NSE Emerge to raise funds. The IPO will be listed on the SME platform of NSE Emerge. The company plans to utilize the funds for debt repayment, working capital, and general corporate purposes.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Dec 14 (PTI) Eleganz Interiors, a leading provider of interior fit-out solutions provider, on Saturday said it has filed draft papers with NSE Emerge to mobilise funds via an initial public offering.
The initial public offering (IPO) is entirely a fresh issuance of up to 60.05 lakh shares, each with a face value of Rs 10, the company said in a statement.
The shares of the company will be listed on the SME platform of the National Stock Exchange (NSE) Emerge, according to the draft red herring prospectus.
Vivro Financial Services is the sole book-running lead manager, while Bigshare Services is the registrar for the IPO.
Mumbai-based Eleganz intends to leverage its existing footprint and expand its presence in these key regions to further solidify its market position.
Proceeds from the issue worth Rs 25 crore will utilised by the company to repay outstanding debt and Rs 30 crore to fund working capital needs.
The remaining funds will be used for general corporate purposes.
Eleganz offers a comprehensive suite of interior fit-out solutions for corporate and commercial spaces throughout India. Its expertise encompasses corporate offices, research & development facilities, laboratories, airport lounges, flexible workspaces, and commercial retail spaces.
The company is led by Sameer Akshay Pakvasa, a founding member of the IGBC (Indian Green Building Council), which is actively involved in promoting the green building concept in India and has obtained platinum and gold "LEED" certifications for some of the projects executed for its clients.
In the first quarter of the current financial year ending June 2024, Eleganz generated revenue of Rs 80.76 crore with a profit (PAT) of Rs 3.85 crore.
For FY24, the company reported revenue of Rs 221.29 crore and a profit (PAT) of Rs 12.2 crore.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
MORE NEWS
India's Russian Oil Imports Drop in November
India's imports of Russian crude oil fell in November, but Russia remains India's...
Satin Creditcare Focuses on Risk Management for...
Satin Creditcare Network Ltd (SCNL) is prioritizing innovative risk management and...
Tata Steel Secures Iron Ore Supply for Future...
Tata Steel is securing iron ore supply for its growing steel production by engaging...
Nissan to Increase Headcount in India Despite...
Nissan plans to expand operations in India, adding headcount and production despite...
FPIs Return to Indian Equities: Rs 22,766 Cr...
Foreign investors returned to Indian equities, infusing Rs 22,766 crore in the first...
India's Coal Imports Rise 4% in Apr-Oct |...
India's coal imports increased by 4.2% to 162.45 million tonnes in the April-October...
UPL-SAS: Tech & Climate Solutions Drive Growth...
UPL-SAS is leveraging technology and climate-smart solutions to transform Indian...
Top 10 Valued Firms: Airtel Soars, Reliance Falls
Five of India's top 10 valued firms gained market valuation last week, led by Bharti...
US Fed Interest Rate, Inflation & Global Trends...
Analysts predict US Fed interest rate decision, WPI inflation and global trends will...
India's Youth Vital for SDGs: UN Envoy
India's UN envoy highlights the crucial role of young people in achieving the SDGs,...
Read More »