IPO News

Interiors and More Limited IPO to open for subscription on Feb 15, 2024

Posted On : 2024-02-12 23:21:35( TIMEZONE : IST )

Interiors and More Limited IPO to open for subscription on Feb 15, 2024

Interiors and More Limited (formerly known as Interiors & More Private Limited), a manufacturer and trader of high-quality artificial flowers, plants and other decorative materials for decorating homes, businesses and events is launching its Rs. 42.00 crore public issue for subscription from February 15, 2024. Proceeds of the public issue will be used for repayment/ prepayment of certain debt facilities, working capital requirements and general corporate purposes. Following the IPO, company's shares will be listed on the on NSE Emerge, SME Platform of National Stock Exchange Limited. Gretex Corporate Services is the lead manager of the issue. Public issue will close on February 20, 2024.

The initial public offering will comprise of upto 18,50,400 Equity shares (fresh issue) of Rs. 10 face value at price range of Rs.216 to Rs. 227 per share per share aggregating upto Rs. 42.00 crore. Minimum lot size for the application is 600 shares which translates in to Rs. 136,200/- per application at upper price band. As part of the IPO, 35% of the shares are allocated for retail investors. Market maker reservation portion is 5% equity shares.

Incorporated in 2012, Interiors & More Limited was founded by Mr. Manish Tibrewal and Mr. Rahul Jhunjhunwala. The company has rich experience in the field of Artificial Flowers, Gift Items, Decoration for Home, Offices and other establishments like malls, banquets, halls etc.

In the span of last 12 years, the company has not only grown in terms of sales of artificial flowers, greens and other decorative items manufactured by them in domestic market but also have expanded its portfolio by inclusion of import of other home and wedding decor products from China, Vietnam, Thailand, Philippines and Indonesia. Over these years, the company has been able to create a strong clientele in the corporate, B2B & B2C segment.

The financial performance of the company has exhibited remarkable progress demonstrating growth and stability. For FY 22-23 the company reported total income of Rs. 25.27 crore and Net Profit of Rs. 5.92 crore, while for FY 2021-22, the company posted total income of Rs 9.98 crore and Net Profit of Rs. 1.04 crore. As on March 31 2023, Net worth of the company stands at Rs. 9.95 crore and Total Assets at Rs. 30.94 crore. For the period ended December 31, 2023, total income and net profit at Rs. 18.53 crore and Rs 3.54 crore respectively.

IPO Highlights - Interiors & More Limited

IPO Opens on February 15, 2024
IPO Closes on February 20, 2024
Price Range - Rs.216 to Rs. 227 Per Share
Issue Size (No of Shares) - Upto 18,50,400 Shares
Issue Size (Rs. Cr) - Upto Rs. 42.00 crore
Lot Size - 600 Shares
Listing on NSE Emerge, SME Platform of NSE.

Source : Equity Bulls


InteriorsandMore FundRaising IPO NSESME