Eleganz Interiors Limited (or the “Company”), one of the leading providers of interior fit-out solutions in India, announced filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The Company’s initial public offering comprises fresh issuance of 60,05,000 Equity Shares, each with a face value of ₹10.
Vivro Financial Services Private Limited is the sole Book Running Lead Manager to the Issue, and Bigshare Services Private Limited is the Registrar.
The Mumbai headquartered Company provides interior fit-out solutions, dedicated towards crafting corporate & commercial spaces, including corporate offices, research & development facilities, laboratories, airport lounges, flexible workspace and commercial retail spaces, amongst others. Its services are focused on creating captivating and functional spaces on a pan India level. The Company elevates the aesthetic and functional aspects of workspaces by delivering interior fit-out solutions.
The Company’s solutions range from bare shell to fully furnished commercial spaces. It provides Design & Build services (“D&B”) and General Contracting (“GC”) services. Under D&B, it provides end-to-end services, which include designing, shop drawings of the projects, resource planning & procurement of materials, project execution, final walkthrough & handing over the projects and providing post project support. Under GC services, the Company’s scope includes (a) civil and interior works i.e. plumbing, POP works, painting, carpentry work and polishing; (b) mechanical work; (c) electrical work (including HVAC work); and (d) final refinements for whole or part of the project.
According to the DRHP, the Company intends to utilise ₹25 crores of the total IPO proceeds for repayment of a portion of certain outstanding borrowing availed by the Company and utilise ₹30 crores to fund its working capital requirements. The Company proposes to utilise the balance funds for general corporate purposes.
The Company operates through its branch offices at Bangalore, Pune, Hyderabad, Gurugram, Ahmedabad and Chennai. Eleganz Interiors plans to continue its strategy of diversifying and expanding its presence in these regions for its business growth.
Eleganz Interiors is 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. These affiliations have strengthened the Company’s commitment to sustainable and innovative design practices while enabling it to tap into valuable networks and resources within the industry.
The promoter of Eleganz Interiors, Mr. Sameer Akshay Pakvasa, represents the second generation of leadership, continuing the legacy of his father, Akshay Pakvasa, who has over 5 decades of experience in the industry. Sameer Akshay Pakvasa has two decades of experience and is associated with the Company since 2001. The Company has a team of experienced and qualified engineers, architects, designers and project management professionals, to undertake critical aspects of our projects such as designing, shop drawings of the projects, resource planning & procurement of materials, project execution, final walkthrough & handing over the projects and providing post project support. As on September 30, 2024, the Company has a team of over 166 designers, architects and engineers for project and design execution.
The Company registered ₹80.76 crores in revenue from operations with a profit (PAT) of ₹3.85 crores in the first quarter of the current financial ended June 2024. It clocked ₹221.29 crores in revenue from operations and a profit (PAT) of ₹12.2 crores in FY24.
