| Company | Value | Change | %Change |
|---|
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 ₹25 crore will utilised by the company to repay outstanding debt and ₹30 crore to fund working capital needs. The remaining funds will be used for general corporate purposes.
Also Read: BlueStone Jewellery files for IPO with SEBI, aims to raise ₹1,000 cr via fresh issue
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 ₹80.76 crore with a profit (PAT) of ₹3.85 crore. For FY24, the company reported revenue of ₹221.29 crore and a profit (PAT) of ₹12.2 crore.
Also Read: Jhunjhunwala family-backed IKS Health IPO — Should you subscribe or avoid?
