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Eleganz Interiors files draft papers with NSE Emerge to raise funds via IPO

www.business-standard.com 14-12-2024 12:11 1 Minutes reading
Eleganz Interiors, a leading provider of interior fit-out solutions provider, on Saturday said it has filed draft papers with NSE Emerge to mobilise funds via an initial public offering.The initial public offering (IPO) is entirely a fresh issuance of up to 60.05 lakh shares, each with a face value of Rs 10, the company said in a statement.The shares of the company will be listed on the SME platform of the National Stock Exchange (NSE) Emerge, according to the draft red herring prospectus.Vivro Financial Services is the sole book-running lead manager, while Bigshare Services is the registrar for the IPO.Mumbai-based Eleganz intends to leverage its existing footprint and expand its presence in these key regions to further solidify its market position.Proceeds from the issue worth Rs 25 crore will utilised by the company to repay outstanding debt and Rs 30 crore to fund working capital needs.The remaining funds will be used for general corporate purposes.Eleganz offers a ..

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