Interiors & More Limited Launches Rs. 42 Crore Public Issue
Newzdaddy Business Updates
Interiors & More Limited, formerly known as Interiors & More Private Limited, is set to embark on a significant financial endeavour with its upcoming public issue. The company, specializing in the production and trading of high-quality artificial flowers, plants, and decorative materials, is poised to raise Rs. 42.00 crore through the issuance of up to 18,50,400 equity shares. This public issue, scheduled to open for subscription on February 15, 2024, and conclude on February 20, 2024, is aimed at facilitating the company’s expansion and meeting various financial objectives.
Details of the Public Issue
The public issue comprises a fresh issue of 18,50,400 equity shares, each with a face value of Rs. 10. The shares are offered at a price range of Rs. 216 to Rs. 227 per share. Investors participating in the IPO will witness the company’s listing on NSE Emerge, the SME Platform of the National Stock Exchange Limited. Gretex Corporate Services Limited serves as the book-running lead manager for this significant financial move.
Subscription Period and Lot Size
Investors keen on participating in this opportunity have a window from February 15, 2024, to February 20, 2024, to subscribe. The minimum lot size for the application is set at 600 shares, providing flexibility for a range of investors to engage with the public issue.
Utilization of Funds
The funds generated through this public issue are earmarked for specific purposes, including the repayment/prepayment of certain debt facilities, addressing working capital requirements, and supporting general corporate needs. This strategic allocation reflects a thoughtful approach to the company’s financial health and future growth prospects.
Financial Performance Overview
For the financial year ending on March 31, 2023, Interiors & More Limited reported a total income of Rs. 25.27 crore, accompanied by a net profit of Rs. 5.92 crore. This robust financial performance underscores the company’s growth trajectory and stability in the market. The figures for the preceding fiscal year, 2021-22, reveal a total income of Rs. 9.98 crore and a net profit of Rs. 1.04 crore, highlighting the remarkable progress achieved over time.
Company Background and Founders
Established in 2012, Interiors & More Limited was founded by Mr. Manish Tibrewal and Mr. Rahul Jhunjhunwala. The company boasts a rich experience in the production of artificial flowers, gift items, and decorations for various settings, including homes, offices, and commercial establishments such as malls and banquet halls.
Diversification and Market Presence
Over the past 12 years, the company has not only witnessed growth in domestic sales of artificial flowers and decorative items but has also diversified its portfolio. This expansion includes the import of home and wedding decor products from countries such as China, Vietnam, Thailand, the Philippines, and Indonesia. The company’s clientele spans corporate, B2B, and B2C segments, showcasing its ability to cater to diverse market needs.
As of March 31, 2023, Interiors & More Limited exhibits a robust financial position, with a net worth of Rs. 9.95 crore and total assets amounting to Rs. 30.94 crore. The financial figures for the period ending December 31, 2023, indicate total income and net profit of Rs. 18.53 crore and Rs. 3.54 crore, respectively. This financial snapshot reflects the company’s financial stability and potential for sustained growth.
Strategic Focus and Expansion Plans
The decision to go public and raise funds through this IPO aligns with Interiors & More Limited’s strategic focus on expansion and market presence. The infusion of capital will not only address immediate financial needs but will also position the company for future growth initiatives, ensuring its competitiveness in the dynamic market for artificial flowers and decorative materials.
The Vision of Founders
The founders, Mr. Manish Tibrewal and Mr. Rahul Jhunjhunwala envisioned a company that not only delivers quality artificial flowers but also becomes a significant player in the broader market of home and wedding decor. The upcoming public issue is a testament to their vision and the company’s commitment to achieving new milestones in the industry.
Investor Opportunities
Investors looking to be part of Interiors & More Limited’s growth journey have the opportunity to subscribe to the IPO and become stakeholders in a company with a proven track record of financial performance and a strategic vision for the future. The minimum lot size of 600 shares ensures accessibility for a wide range of investors.
As Interiors & More Limited gears up for its public issue, the company stands at the cusp of a new chapter in its journey. The strategic allocation of funds, robust financial performance, and the founders’ vision collectively position the company for sustained growth and success in the market for artificial flowers, plants, and decorative materials.
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 |