Interiors & More Ltd., a company specializing in the production and trading of high-quality artificial flowers, plants, and decorative materials for homes, businesses, and events, is set to launch its Rs 42.00 crore public issue for subscription starting February 15.
The proceeds from the public issue will be utilized for repaying and prepaying certain debt facilities, fulfilling working capital requirements, and addressing general corporate purposes. Upon completion of the IPO, the company’s shares will be listed on the NSE Emerge SME Platform of the National Stock Exchange Limited. Gretex Corporate Services is acting as the lead manager for the issue. The public issue is scheduled to close on February 20, 2024. The company operates a manufacturing facility in the Valsad district of Gujarat.
The initial public offering will comprise up to 18,50,400 Equity shares (fresh issue) with a face value of Rs 10 each, offered in a price range of Rs 216 to Rs 227 per share, aggregating up to Rs 42 crore. The minimum lot size for application is 600 shares, translating to Rs 1,36,200 per application at the upper price band. As part of the IPO, 35% of the shares are allocated for retail investors, while the market maker reservation portion is 5% of equity shares.
Established in 2012 by Manish Tibrewal and Rahul Jhunjhunwala, Interiors & More Limited has significant expertise in the artificial flowers, gift items, and decoration segments for homes, offices, malls, banquets, halls, etc.
For the fiscal year 2022-23, the company reported a total income of Rs 25.27 crore and a net profit of Rs 5.92 crore. In the preceding fiscal year 2021-22, the company posted a total income of Rs 9.98 crore and a net profit of Rs 1.04 crore. As of March 31, 2023, the net worth of the company stands at Rs 9.95 crore, with total assets at Rs 30.94 crore. For the period ended December 31, 2023, the total income and net profit were reported at Rs. 18.53 crore and Rs 3.54 crore, respectively.
