Eleganz Interiors IPO Review: Apply or Avoid?

The Eleganz Interiors IPO will commence for bidding on 7th February 2025 at 10 AM. This public issue for Eleganz Interiors Limited is a book-built issue with a total IPO size of ₹ 78.07 crores. The offer will close on 11th February 2025, and the tentative listing date is 14th February 2025. For a more detailed review of Eleganz Interiors IPO, please read the below article: 

Eleganz Interiors IPO Details 

Eleganz Interiors IPO is being offered for subscription to the Indian markets starting on 7th February 2025 with a floor price of ₹ 123 and a cap price of ₹ 130. The minimum lot size is set at 1,000 per share, aggregating to a minimum application amount of ₹ 1,30,000 (cap price * minimum lot size). 

The book-running lead manager for the Eleganz Interiors IPO is Vivro Financial Services Private Limited. Bigshare Services Private Limited is the registrar for the issue, and Rikhav Securities Limited is the market maker for the IPO. Refer to the below table for more details about the Eleganz Interiors IPO:

Eleganz Interiors IPO GMP, Issue Size, Price, and Offer Details

Eleganz Interiors IPO is an NSE SME IPO that is likely to be listed on the Indian stock exchanges on 14th February 2025. The minimum subscription status for  Eleganz Interiors IPO is as follows:

Eleganz Interiors IPO GMP (Grey Market Premium)

Eleganz Interiors IPO GMP: Grey Market Premium (GMP) refers to the price of an IPO trailing in the grey markets. It also refers to the difference between the issue price and the grey market price of an IPO. 

As per the most recent data available as of 6th February 2025, the GMP of Eleganz Interiors IPO is ₹ 35. According to this GMP, the expected listing price of the IPO is ₹ 165 (GMP+ Cap Price). If you want to know more about the GMP of Eleganz Interiors IPO, have a look at its GMP trend over the last 6 days. 

*Data is updated as of 6th February 2025. 

Eleganz Interiors IPO Bidding Requirements

Eleganz Interiors IPO is being offered with minimum bidding requirements of 1000 shares and in multiples thereof. Refer to the below table for more details about the bidding requirements of Eleganz Interiors IPO: 

Eleganz Interiors  IPO Review

Before investing in a company through its initial public offering, it is important to research and analyse the fundamentals and technical aspects of investing safely in the IPO. Therefore, if you want to make a sound investment decision regarding the Eleganz Interiors IPO, ensure that you read the details below about the company: 

Financial Health

As far as the profit and loss of Eleganz Interiors Limited are concerned, the company has been maintaining positive PAT growth. For the year ending 31st March 2022, Eleganz Interiors Limited earned a profit after tax (PAT) of ₹ 5.09 crores, which has considerably increased to ₹ 10.31 crores and 12.21 crores in the period ending 31st March 2023 and 31st March 2024, respectively. 

On the other hand, the revenue figures of Eleganz Interiors Limited have also shown a similar trend. As of 31st March 2024, the revenue of the company stood at ₹ 223.09 crores, which is 16.69% higher than the revenue of the period ending 31st March 2023. 

Technical Analysis

A number of technical indicators are available to assess the stock’s potential for the coming time. You can analyse the potential of Eleganz Interiors  IPO with the help of the technical indicators mentioned below. 

*Data is updated as of 6th February 2025. 

The PE ratio of Eleganz Interiors Limited shares is 7.36, and its Earnings Per Share (pre-IPO) stands at 17.67. It indicates that the IPO has a high potential to deliver short and long-term returns.

Eleganz Interiors Limited has shown considerable growth in its financial performance and has portrayed itself as a strong candidate for SME IPO investment.  Also, the technical ratios of Eleganz Interiors Limited depict that it has the potential for substantial growth in the future. However, these performances figure do not guarantee profits in Eleganz Interiors IPO investments therefore, it is advisable that you do not invest in the public issue without performing extensive research. 

Eleganz Interiors IPO Subscription Status

Eleganz Interiors IPO was subscribed 0.22 times on 7th February 2025 as of 10:40:00 AM on 7th February 2025. The retail category subscribed 0.38 times to the IPO, whereas the subscription of the QIB category was 0 times, and the NII category was 0.11 times. 

Objectives of Eleganz Interiors IPO 

Eleganz Interiors Limited is raising approximately 78.07 crores from the IPO to meet various business and corporate objectives in the coming future. The aim and allocation of the Eleganz Interiors IPO is as follows: 

*The amount will be decided after the determination of the issue price

About Eleganz Interiors Limited 

Eleganz Interiors Limited is engaged in the business of providing interior design services for corporate and commercial spaces. Eleganz Interiors delivers its services to corporate offices, research and development facilities, laboratories, airports, flexible workspaces, and commercial retail spaces. They are focused on enhancing the aesthetics and overall functionality of spaces through their interior fit-out solutions. The services of Eleganz Interiors Limited are divided into two main heads: Design & Build services (“D&B”)  and General Contracting (“GC”) services. 

The company receives corporate projects from large corporations, both domestic and multinational. They are Project management consultants and international property consultants through tender bidding. They are awarded projects on a work-order basis. 

Eleganz Interiors Limited Financial Performance 

Risk of Eleganz Interiors Limited 

• A large chunk of Eleganz Interiors Limited revenue is generated from its old or repeat clients. This leads to a risk of revenue loss if the company experience a decrease in repeat customers. 
• Certain key services, such as manufacturing activities, logistics, and transportation, are outsourced to third parties. In case the third parties fail to meet their duties, then it might affect the business of Eleganz Interiors Limited. 
• The business of the company is working capital intensive, which requires a steady cashflow and financing. If Eleganz Interiors Limited is not able to secure the required financing or maintain a healthy cash flow, then the daily operations of the company can take a significant hit. 

Strengths of Eleganz Interiors Limited 

• Experienced team and qualified team – Eleganz Interiors Limited has a wide range of experienced and qualified team members who are highly skilled in conducting the organisation’s core business. As per the official data of 30th September 2024, the company has over 155 designers, architects and engineers for the project and design execution. 

• Presence in a vast range of industries – The historical performance of the company indicates that it has served a large set of industries while providing its key services for a large period of time. IT, manufacturing, banking, financial services, insurance services, pharmaceuticals, and FMCG are some of the major industries that are customers of this company. 

• Strong footprints at key economic hubs in India – Eleganz Interiors Limited have a strong presence in key economic hubs of India, which includes Mumbai,  Bengaluru, Hyderabad, Pune, NCR, Chennai, Ahmedabad and Bhopal.  During the last 3 financial years and till September 30, 2024, the company has completed projects across 10 different states in India. 

For More Information on Risks and Strengths, Read the RHP of Eleganz Interiors IPO

How to Apply for Eleganz Interiors IPO  

To apply for the Eleganz Interiors IPO, you simply need to follow the below steps: 

1. Research about the risks, benefits, and key details of the public offer. 
2. Open a demat account with Univest to know more about the IPO and invest in it. If you have an old demat account, you can also use it to invest in the IPO. 
3. If you are a retail investor, then place a bid of 1000 shares for a total amount of ₹ 1,30,000. 
4. Once the bidding process is completed, you will receive a request for payment initiation on your chosen investment method. Approve the payment request and stay updated with the allotment status for the Eleganz Interiors IPO.  

Let’s Wrap

• Eleganz Interiors  IPO will be open for bidding on 7th February 2025 and will close on 11th February 2025. 
• The total size of Eleganz Interiors Limited  IPO is 60,05,000 equity shares, aggregating to ₹ 78.07 crores. 
• The public offer is a book-built issue and consists completely of a fresh issue of 60.05 lakh shares. 
• The last updated grey market premium of Eleganz Interiors  IPO is ₹ 35.
• The price band of Eleganz Interiors IPO is set with a floor price of ₹ 123 and a cap price of ₹ 130. 

FAQ on Eleganz Interiors IPO

1. What is the price of the Eleganz Interiors IPO?

The price band of Eleganz Interiors IPO is ₹ 123 to ₹ 130. It is a 100% book-built issue of 78.07 crores which was opened for bidding on 7th February 2025 and will close on 11th February 2025. 

2. Is the Eleganz Interiors IPO good?

Eleganz Interiors Limited’s revenue grew from ₹ 15,383.03 in FY 2023 to ₹ 22,129.19 in FY 2024. On the other hand, EBITDA grew at a rate of 19.16% from ₹ 679.33 on 31st March 2022 to ₹ 1,981.10 in FY 2024.  

3. How can I check Eleganz Interiors IPO status?

You can check the status of Eleganz Interiors IPO either on the official website of the National Stock Exchange or through your registered stockbroking platform. 

4. What is the GMP of Eleganz Interiors IPO?

The latest updated GMP of the Eleganz Interiors IPO as of 7th February 2025 is ₹ 35. 

5. What is Eleganz Interiors Limited’s business?

Eleganz Interiors Limited is involved in the business of providing interior designing and fit-out solutions to commercial and corporate spaces. Key clients of the company include corporate offices, airport lounges, laboratories, and research & development centres.

Open a demat account on Univest now to initiate your investment journey. Explore the Univest terms and conditions by clicking on the link. 

Disclaimer: The above information is accumulated from authentic sources and is just for informational purposes. To have detailed information about Eleganz Interiors  IPO, download the Eleganz Interiors  IPO RHP and IPO DRHP. Conduct your own research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.

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