Last hours! Eleganz Interiors IPO ends today; subscription 7x, GMP up 16%

Eleganz Interiors IPO Day 3: Interior solutions supplier company Eleganz Interiors' initial public offering (IPO) is set to conclude for public subscription today, Tuesday, February 11, 2025. The NSE SME offering has received a decent response from investors so far. Data available on the National Stock Exchange (NSE) suggests that Eleganz Interiors IPO has been oversubscribed by 7.32 times as of around 11:18 AM on Tuesday, February 11.

 

Eleganz Interiors IPO, which comprises an entirely fresh issue of 6 million equity shares, is available at a price band of Rs 123 - Rs 130 per share, with a lot size of 1,000 shares. Investors can bid for a minimum of 1,000 shares and in multiples thereof, requiring a minimum investment amount of Rs 1,30,000.

 

Meanwhile, the unlisted shares of Eleganz Interiors continue to command a strong premium in the grey market as the public offering concludes today. According to sources tracking grey market activities, Eleganz Interiors shares were trading at around Rs 151 per share. This reflects a grey market premium of Rs 21 per share, or 16.15 per cent, over the upper end of the issue price of Rs 130. 

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Once the subscription window concludes, the basis of allotment for Eleganz Interiors IPO shares is likely to be finalised on Wednesday, February 12, 2025. The successful allottees will receive the company's shares in their demat account by Thursday, February 13, 2025.

 

Eleganz Interiors shares are slated to list on the NSE SME, tentatively on Friday, February 14, 2025.

 

Bigshare Services serves as the registrar, while Vivro Financial Services acts as the sole book-running lead manager for the offering.  Eleganz Interiors proposes to utilise the proceeds from the public offering for the repayment, in full or in part, of certain borrowings availed by the company, to meet working capital requirements, as well as for general corporate purposes.

 

Eleganz Interiors is engaged in providing interior fit-out solutions, dedicated to crafting corporate and commercial spaces, including corporate offices, research and development facilities, laboratories, airport lounges, flexible workspaces, and commercial retail spaces, among others. The company's range of services includes Design & Build (D&B) and General Contracting (GC) services. The company bids for domestic tenders issued by large domestic and multinational corporations, project management consultants, and international property consultants for D&B and GC services.