Interiors & More Limited IPO opens from February 15 – Times of India

by The Technical Blogs



Interiors & More Ltd., 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.
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 company has a manufacturing facility in Valsad district of Gujarat. 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 aggregating upto Rs 42 crore. Minimum lot size for the application is 600 shares which translates in to Rs 1,36,200 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 Manish Tibrewal and Rahul Jhunjhunwala. The company has experience in the field of artificial flowers, gift items, decoration for Home, offices and other establishments like malls, banquets, halls etc.
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.





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