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Interiors & More IPO is a book build issue of ₹42.00 crores. The issue is entirely a fresh issue of 0.19 crore shares of ₹42.00 crore.
Interiors & More IPO bidding started from Feb 15, 2024 and ended on Feb 20, 2024. The allotment for Interiors & More IPO was finalized on Feb 21, 2024. The shares got listed on NSE SME on Feb 23, 2024.
Interiors & More IPO price band is set at ₹227.00 per share . The lot size for an application is 600. The minimum amount of investment required by an retail is ₹1,29,600 (600 shares). The minimum lot size investment for HNI is 2 lots (1,200 shares), amounting to ₹2,72,400.
Gretex Corporate Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Gretex Share Broking Pvt.Ltd..
Refer to Interiors & More IPO RHP for detailed Information.
| IPO Date | February 15, 2024 to February 20, 2024 |
| Listing Date | February 23, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹216 to ₹227 per share |
| Issue Price Final | ₹227 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 18,50,400 shares (aggregating up to ₹42.00 Cr) |
| Reserved for Market Maker | 93,000 shares Gretex Share Broking Pvt.Ltd. (aggregating up to ₹2.11 Cr) |
| Net Offered to Public | 17,57,400 shares (aggregating up to ₹39.89 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 51,45,000 shares |
| Share Holding Post Issue | 69,95,400 shares |
Interiors and More IPO offers total 18,50,400 shares. Out of which 8,77,800 (47.44%) allocated to QIB, 3,51,600 (19.00%) allocated to QIB, 2,64,000 (14.27%) allocated to NII, 6,15,600 (33.27%) allocated to RII and 5,26,200 (28.44%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 93,000 (5.03%) |
| QIB Shares Offered | 8,77,800 (47.44%) |
| − Anchor Investor Shares Offered | 5,26,200 (28.44%) |
| − QIB (Ex. Anchor) Shares Offered | 3,51,600 (19.00%) |
| NII (HNI) Shares Offered | 2,64,000 (14.27%) |
| Retail Shares Offered | 6,15,600 (33.27%) |
| Total Shares Offered | 18,50,400 (100.00%) |
Interiors & More IPO raises ₹11.94 crore from anchor investors. Interiors & More IPO Anchor bid date is February 14, 2024. Interiors & More IPO Anchor Investors list
| Bid Date | February 14, 2024 |
| Shares Offered | 5,26,200 |
| Anchor Portion Size (In Cr.) | 11.94 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 22, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 21, 2024 |
Interiors & More IPO opens on February 15, 2024, and closes on February 20, 2024.
| IPO Open Date | Thu, Feb 15, 2024 |
| IPO Close Date | Tue, Feb 20, 2024 |
| Tentative Allotment | Wed, Feb 21, 2024 |
| Initiation of Refunds | Thu, Feb 22, 2024 |
| Credit of Shares to Demat | Thu, Feb 22, 2024 |
| Tentative Listing Date | Fri, Feb 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Feb 20, 2024 |
Investors can bid for a minimum of 600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹1,36,200 |
| Retail (Max) | 1 | 600 | ₹1,36,200 |
| HNI (Min) | 2 | 1,200 | ₹2,72,400 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in June 2012, Interiors & More Limited trades, imports, and sells artificial flowers. The company manufactures and trades quality artificial flowers, plants, and decor items for homes and offices.
The manufacturing facility, which is fully furnished with all the necessary tools for production, test equipment for quality control, and additional handling supplies to enable efficient assembly and simple logistics, is located in Gujarat.
The company has expanded to various locations over the years, including Mumbai and Delhi, with the factory operating from Umbergaon.
The company has two well-equipped manufacturing units. One is located in Umargam, Gujarat and measures 57,000 Sq. ft. The other unit is situated in Umbergaon, Gujarat and measures 7,000 Sq. ft. Both units have computer systems, internet connectivity, communication equipment, security, and other necessary facilities for its business operations to function smoothly.
The company offers various products, including artificial flowers such as Roses, Yellow Marigolds, Green Grass in Mats, green Leaves, carnations, Hydrangea, and Hanging orchids. In addition, the company trades in Fountains, battery-operated Candles, Chandeliers, vases made of Wood and Glass, artificial trees, Furniture, and Tables.
Interiors & More Limited curates exhibitions across India.
As of December 31, 2023, the company has 93 permanent employees.
The company's main corporate office is located in Fort, Mumbai. Here, the company manages all its administrative and reporting needs and factory support.
Interiors and More Limited's revenue increased by 153.09% and profit after tax (PAT) rose by 467.64% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 3,722.59 | 3,094.63 | 1,952.13 | 1,478.30 |
| Total Income | 1,853.78 | 2,527.17 | 998.53 | 663.10 |
| Profit After Tax | 354.57 | 592.84 | 104.44 | 43.33 |
| Net Worth | 1,349.78 | 995.21 | 405.07 | 300.63 |
| Reserves and Surplus | 835.28 | 823.71 | 233.57 | 129.13 |
| Total Borrowing | 1,645.86 | 1,439.77 | 1,297.33 | 904.02 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Interiors & More IPO is ₹158.80 Cr.
| KPI | Values |
|---|---|
| ROE | 84.68% |
| ROCE | 75.58% |
| Debt/Equity | 1.45 |
| RoNW | 59.57% |
| Price to Book Value | 11.74 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 11.52 | 6.76 |
| P/E (x) | 19.7 | 33.59 |
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects
[Dilip Davda] The company is in the business of decorations and manufacturing and trading in decorative products with prime focus on artificial flowers. The sudden jump in its top and bottom lines from FY23 onwards raise eyebrows and the concern over its sustainability. Based on FY24 super annualized earnings, the issue appears aggressively priced. Post-IPO small equity base hints at longer gestation for migration to mainboard. There is no harm in skipping this pricey bet. Read detail review...
| Listing Date | February 23, 2024 |
| BSE Script Code | |
| NSE Symbol | INM |
| ISIN | INE0OPC01015 |
| Final Issue Price | ₹227 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹227.00 |
| Open | ₹270.00 |
| Low | ₹270.00 |
| High | ₹283.50 |
| Last Trade | ₹283.50 |
Interiors & More Ltd.
Office No.7, Ground Floor, Kumtha Street,
off Shahid Bhagat Singh Road-Ballard Estate,
Fort Mumbai G.P.O. Mumbai - 400001
Fort, Maharashtra
Phone: 022-47499811
Email: info@inm.net.in
Website: http://www.inm.net.in/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Interiors & More IPO is a SME IPO of 18,50,400 equity shares of the face value of ₹10 aggregating up to ₹42.00 Crores. The issue is priced at ₹227 per share. The minimum order quantity is 600.
The IPO opens on February 15, 2024, and closes on February 20, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Interiors & More IPO using UPI as a payment gateway. Zerodha customers can apply in Interiors & More IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Interiors & More IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Interiors & More IPO opens on February 15, 2024 and closes on February 20, 2024.
Interiors & More IPO lot size is 600, and the minimum amount required for application is ₹1,36,200.
You can apply in Interiors & More IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Interiors & More IPO will be done on Wednesday, February 21, 2024, and the allotted shares will be credited to your demat account by Thursday, February 22, 2024. Check the Interiors & More IPO allotment status.
The Interiors & More IPO listing date is on Friday, February 23, 2024.
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