Weak Debut! Eleganz Interiors shares list at ₹122 on NSE SME, a discount of 6.15% from IPO price
Eleganz Interiors shares make a weak debut on Friday, February 14, listing at ₹122 on NSE SME, a discount of 6.15 percent versus its IPO price of ₹130.
Eleganz Interiors IPO listing: Eleganz Interiors shares make a weak debut on Friday, February 14, listing at ₹122 on NSE SME, a discount of 6.15 percent versus its IPO price of ₹130.
Eleganz Interiors's initial public offering (IPO), valued at ₹78.07 crore, was open for subscription from February 7 to February 11. The SME IPO price was fixed at ₹130 per equity share.
Following the three days of bidding, Eleganz Interiors IPO closed with strong demand, garnering 30.65 times bids. The IPO received bids for 12.24 crore shares against 39.94 lakh shares on offer. The retail investor segment was booked 21.44 times, while the non-institutional investors (NII) category was subscribed 60.42 times. Moreover, the Qualified Institutional Buyers quota was bid 24.45 times in the 3 days of bidding.
About the IPO
Eleganz Interiors IPO was entirely a fresh issue of 60.05 lakh shares with no offer for sale component. Retail investors could apply with a minimum lot size of 1,000 shares, requiring a minimum investment of ₹1.30 lakh.
The company plans to allocate the gross proceeds from the issue towards multiple objectives, including the partial or full repayment of certain outstanding borrowings, meeting its working capital requirements, and funding general corporate purposes.
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 Eleganz Interiors IPO is Rikhav Securities Limited.
About the Company
Established in 1996, Eleganz Interiors Limited operates in the interior solutions sector, catering to corporate offices, research and development facilities, laboratories, airport lounges, flexible workspaces, and commercial retail spaces. The company specializes in fit-out solutions, offering comprehensive design and build (D&B) as well as general contracting (GC) services. It actively participates in domestic tenders issued by large corporations, project management consultants, and international property consultants.
Backed by a team of experienced engineers, architects, designers, and project management professionals, along with third-party consultants, Eleganz Interiors ensures project completion within stipulated timelines while maintaining high compliance and quality standards.
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