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Business News/ Markets / Ipo/  Interiors and More lists at 270 on NSE SME, an 18.9% premuim to IPO price
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Interiors and More lists at ₹270 on NSE SME, an 18.9% premuim to IPO price

Interiors & More made a decent debut on the bourses today. On NSE Emerge, Interiors & More share price was listed at ₹270 per share, 18.9 percent higher than the issue price of ₹227.

Interiors & More listing (iStock)Premium
Interiors & More listing (iStock)

Interiors & More made a decent debut on the bourses today. On NSE Emerge, Interiors & More share price was listed at 270 per share, 18.9 percent higher than the issue price of 227.

The initial public offering (IPO) was opened for subscription between February 15 and February 20 with a price band in the range of 216-227 per share. The equity shares will be listed on the NSE Emerge platform on February 23.

The IPO of Interiors & More was subscribed 11.22 times over a four-day issue period. The issue received bids worth 1.38 crore shares as against 12.31 lakh on offer. The public issue was subscribed 7.41 times in the retail category, 3.54 times in QIB, and 30.32 times in the NII category by February 20, 2024.

READ HERE: GPT IPO Day 2: Check GMP, subscription status, key details; Apply or not?

About the IPO

Interiors and More IPO is a book-built issue of 42.00 crores. The issue is entirely a fresh issue of 18.5 lakh shares. The minimum amount of investment required by retail investors was 1,36,200. The minimum lot size investment for HNI is 2 lots (1,200 shares) amounting to 2,72,400.

The SME IPO had raised over 11.94 crore from anchor investors on February 14, a day before it opened for subscription.

The IPO reserved not more than 50 percent of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15 percent for Non-Institutional Investors (NII), and not less than 35 percent of the offer is reserved for Retail Investors.

The company intends to utilize the Net Fresh Issue Proceeds for the repayment/prepayment of certain debt facilities, working capital requirements, and general Corporate purposes.

READ HERE: Juniper Hotels IPO: GMP, subscription status to review. Should you apply?

Gretex Corporate Services Limited is the book-running lead manager of the Interiors and More IPO, while the market maker for Interiors and More IPO is Gretex Share Broking.

About the firm

Interiors & More Limited trades, imports, and sells artificial flowers. The company manufactures and trades quality artificial flowers, plants, and decor items for homes and offices.

The manufacturing facility, which is fully furnished with all the necessary tools for production, test equipment for quality control, and additional handling supplies to enable efficient assembly and simple logistics, is located in Gujarat.

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Published: 23 Feb 2024, 10:00 AM IST
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