Mon Dec 16 21:29:12 UTC 2024: ## Eleganz Interiors to Go Public, Seeking ₹60 Crore Through NSE Emerge IPO
**MUMBAI, INDIA –** Eleganz Interiors, a leading provider of sustainable interior fit-out solutions, announced plans to raise up to ₹60.05 crore (approximately $7.3 million USD) through an initial public offering (IPO) on the NSE Emerge platform. The IPO will consist of a fresh issuance of 60.05 lakh equity shares with a face value of ₹10 each.
The company, known for its work in corporate offices, R&D facilities, and other commercial spaces, will use the funds primarily for debt repayment (₹25 crore), working capital (₹30 crore), and general corporate purposes. Eleganz reported strong first-quarter FY24 results, with revenues of ₹80.76 crore and a profit after tax (PAT) of ₹3.85 crore. Full-year FY24 figures showed revenues of ₹221.29 crore and a PAT of ₹12.2 crore.
Vivro Financial Services is the sole book-running lead manager for the IPO, with Bigshare Services acting as registrar. Eleganz’s commitment to sustainable building practices, led by founding member of the Indian Green Building Council (IGBC) Sameer Akshay Pakvasa, has resulted in several projects achieving LEED platinum and gold certifications. The company plans to leverage its existing Mumbai base to expand its reach across India.
The IPO is seen as a strategic move to solidify Eleganz’s position in India’s growing interior fit-out market, capitalizing on increasing demand for high-quality, sustainable design solutions. The company’s strong financial performance and commitment to environmental responsibility position it for continued growth.
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