Eleganz Interiors
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 07 Feb 2025 – 11 Feb 2025
- Listing date
- 14 Feb 2025
- Face value
- ₹10 per share
- Issue price
- ₹130 per share
- Lot size
- 1,000 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹78.07 Cr
- Market cap at offer price
- ₹294 Cr
- Promoter holding
- 93.94% → 68.98% pre-issue → post-issue
- ISIN
- INE0R9101015
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Vivro Financial Services Pvt.Ltd.
- Registered office
- Gala Nos.1 7, Ground Floor, Sarita, Prabhat Industrial Estate, Western Express Highway, Dahisar (E), Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 17,10,000 | — | — |
| Market maker | 3,01,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹130
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,30,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,60,000 |
| S-HNI (max) | 7 | 7,000 | ₹9,10,000 |
| B-HNI (min) | 8 | 8,000 | ₹10,40,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 7.36 | 8.44 |
| P/E (×) | 17.66 | 15.40 |
| Market cap | — | ₹294 Cr |
Key performance indicators
- Return on net worth
- 26.96%
- ROCE
- 24.23%
- Debt / equity
- 0.83
- PAT margin
- 5.52%
- NAV per share
- ₹33.44
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Eleganz Interiors
Eleganz Interiors Limited is a Mumbai-based company incorporated in 1996, which was converted to a public limited company in 2023. The company specializes in providing interior fit-out solutions that transform bare shell commercial spaces into fully functional office environments. Operating across multiple states including Maharashtra, Karnataka, Tamil Nadu, and others, the company delivers design and build services as well as general contracting services. With a diversified client base including repeat customers and focusing on creating contemporary office spaces, the company has established itself over nearly three decades with a professional management team and experienced execution capabilities.
Company Analysis
from RHPEleganz Interiors Limited provides interior fit-out solutions for corporate and commercial spaces across India, spanning office design and construction (D&B and GC services).
Eleganz Interiors Limited is a Mumbai-based company incorporated in 1996, which was converted to a public limited company in 2023. The company specializes in providing interior fit-out solutions that transform bare shell commercial spaces into fully functional office environments. Operating across multiple states including Maharashtra, Karnataka, Tamil Nadu, and others, the company delivers design and build services as well as general contracting services. With a diversified client base including repeat customers and focusing on creating contemporary office spaces, the company has established itself over nearly three decades with a professional management team and experienced execution capabilities.
Objects of the Issue
- Repayment of a portion of certain outstanding borrowings availed by our Company ₹2,500.00 lakhs p.25
- Utilization towards working capital requirements of our Company ₹3,000.00 lakhs p.25
- General Corporate Purposes [●] p.25
Issue Structure
- Total Issue
- Up to 60,05,000 Equity Shares of face value of ₹10/- each aggregating to ₹[●] lakhs
- Fresh Issue
- 60,05,000 Equity Shares of face value of ₹10/- each at ₹[●] per Equity Share aggregating to ₹[●] lakhs
- Offer for Sale
- Nil
- Price Band
- [●] to [●] per Equity Share
- Lot Size
- [●] Equity Shares
- Face Value
- ₹10/- each
Business Model
The company generates revenue primarily through two service lines: (1) Design & Build (D&B) services where the company provides integrated design and construction solutions from concept to completion, and (2) General Contracting (GC) services where it executes fit-out work based on client specifications. Revenue is derived from fixed-rate contracts for specific projects. The company also manufactures loose furniture items at its manufacturing facility in Vasai, which are installed as part of projects. Revenue recognition occurs as work is executed and billed to clients on a milestone basis.
Business Segments
SWOT Analysis
- • Three decades of industry experience and established track record(p.61)
- • Strong repeat client relationships and revenue contribution(p.34)
- • Significant order book demonstrating strong project pipeline(p.40)
- • Diverse geographic presence across multiple states(p.40)
- • Integrated service offerings in interior fit-out segment(p.24)
- • Heavy dependence on limited number of top clients(p.35)
- • Significant reliance on contract labour with potential wage payment risks(p.36)
- • Absence of long-term contracts with clients creating revenue volatility(p.35)
- • Historical corporate records not traceable with regulatory uncertainty(p.38)
- • High material costs representing majority of expenses(p.37)
- • Significant growth in office fit-out market with strong CAGR(p.133)
- • Expansion of commercial real estate driven by Global Capability Centers(p.133)
- • Rising demand for flexible and tech-driven office solutions(p.141)
- • Growth opportunities in Tier-2 and Tier-3 cities(p.143)
- • Expansion potential in healthcare, education and retail sectors(p.144)
- • Growing emphasis on sustainable and green fit-out solutions(p.144)
- • Volatile commodity prices impacting project economics(p.36)
- • Intense competition from fragmented fit-out industry(p.144)
- • Shortage of skilled labor across the industry(p.144)
- • Dependence on third-party logistics providers without insurance(p.37)
- • Exposure to project delays and cost overruns from external factors(p.33)
- • Regulatory and compliance risks from GST and tax disputes(p.43)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Sameer Akshay Pakvasa | Promoter | 93.94% | — |
| Sonal Pakvasa | Promoter Group | Negligible | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.