Eleganz Interiors has filed draft red herring prospectus (DRHP) with NSE Emerge to mobilise funds via an initial public offering (IPO). The IPO is entirely a fresh issuance of up to 60.05 lakh shares, each with a face value of Rs 10. The shares of the company will be listed on the SME platform of the National Stock Exchange (NSE) Emerge.
The company 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 Rs 25 crore will utilised by the company to repay outstanding debt and Rs 30 crore to fund working capital needs. The remaining funds will be used for general corporate purposes. Vivro Financial Services is the sole book-running lead manager for the IPO.
Eleganz Interiors 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.
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