Eleganz Interiors IPO listing today. What GMP signals ahead of debut?

Synopsis

Eleganz Interiors shares to be listed on NSE SME platform with a GMP indicating a single-digit premium over the issue price. The IPO, which received 30 times subscription, aims to use net proceeds for debt repayment, working capital requirements, and enhancing corporate purposes, focusing on comprehensive interior fit-out solutions.

The shares of Eleganz Interiors will be listed on NSE SME platform on Friday and the GMP indicates single-digit premium over the issue price. Ahead of the listing, the GMP is around 4% as against an IPO price of Rs 130.

However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.

The IPO received a subscription of 30 times, where non-institutional investors dominated the bidding, followed by institutional investors.

The company plans to use the net proceeds from the IPO to be used for repayment of debt, working capital requirements and general corporate purposes.

Eleganz Interiors is engaged in the business of providing interior fit-out solutions, dedicated towards crafting corporate and commercial spaces which includes corporate offices, research and development facilities, laboratories, airport lounge, flexible workspace and commercial retail spaces, amongst others.

Its services are focussed towards 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. Its solutions range from bare shell to fully furnished commercial spaces.

The range of services include design and build services (D&B) and general contracting (GC) services. Under D&B, the company provides end-to-end services which includes designing, shop drawings of the projects, resource planning and procurement of materials, project execution, final walkthrough and handing over the projects and providing post project support.

Under GC services, its scope includes civil and interior works, mechanical work, electrical work and final refinements for whole or part of the project which includes windows installation, wall finishes and flooring installation.

The interior fit-out services segment within the construction space refers to the final stage of development, where the internal spaces of buildings are customized and equipped according to the client’s requirements.

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