Eleganz Interiors Prepares for IPO to Expand Market Presence

Eleganz Interiors, a prominent interior fit-out solutions provider, has filed papers for an IPO with NSE Emerge. The IPO aims to issue fresh shares to fund debt repayment, working capital, and corporate expansion. The Mumbai-based company looks to enhance its market position through strategic regional expansion.

Eleganz Interiors, a leader in interior fit-out solutions, announced on Saturday that it has filed draft papers for an initial public offering (IPO) with NSE Emerge. The IPO will consist of a fresh issue of up to 60.05 lakh shares, each valued at Rs 10, according to the company's statement.

Plans are underway for the company's shares to be listed on the SME platform of the National Stock Exchange (NSE) Emerge, as detailed in the draft red herring prospectus. Vivro Financial Services has been appointed as the sole book-running lead manager, while Bigshare Services will manage the IPO registrations.

Mumbai-based Eleganz aims to strengthen its market presence by expanding in key regions. The company intends to use Rs 25 crore from the IPO to settle outstanding debts and Rs 30 crore for working capital needs, with the remaining funds allocated for general corporate purposes.

(With inputs from agencies.)