Bookbuilding IPO | ₹42 Cr | Listed at NSE SME | Thu, Feb 15, 2024 - Tue, Feb 20, 2024
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 per share. The lot size for an application is 600. The minimum amount of investment required by an retail is ₹1,36,200 (600 shares) (based on upper price). The minimum lot size for investment in 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 Open
Thu, Feb 15, 2024
IPO Close
Tue, Feb 20, 2024
Issue Price
₹227 per share
Market Cap (Pre-IPO)
₹158.80 Cr
| IPO Date | 15 to 20 Feb, 2024 |
| Listed on | Fri, Feb 23, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹216 to ₹227 |
| Issue Price | ₹227 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 18,50,400 shares (agg. up to ₹42 Cr) |
| Reserved for Market Maker | 93,000 shares Gretex Share Broking Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 17,57,400 shares (agg. up to ₹40 Cr) |
| Net Offered to Public | 17,57,400 shares (agg. up to ₹40 Cr) |
| Share Holding Pre Issue | 51,45,000 shares |
| Share Holding Post Issue | 69,95,400 shares |
| NSE Symbol | INM |
| ISIN | INE0OPC01015 |
Interiors & More IPO comprises a total issue size of 18,50,400 shares. The net offer to the public is 17,57,400 shares, after excluding 93,000 shares allotted on a firm basis. Of the Net offer 8,77,800 (49.95%) are allocated to QIB, 2,64,000 (15.02%) allocated to NII 6,15,600 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 8,77,800 | 49.95% | 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 | 15.02% | 14.27% |
| Retail Shares Offered | 6,15,600 | 35.03% | 33.27% |
| Firm Reservations | |||
| Market Maker Shares Offered | 93,000 | 5.03% | |
| Total Shares Offered | 18,50,400 | 100.00% | 100.00% |
Investors can bid for a minimum of 600 shares and in multiples thereof.
| 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 |
Interiors & More IPO raises ₹11.94 crore from anchor investors. Interiors & More IPO Anchor bid date is February 14, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Feb 14, 2024 |
| Shares Offered | 5,26,200 |
| Anchor Portion (₹ Cr.) | 11.94 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Mar 22, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, May 21, 2024 |
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.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 37.23 | 30.95 | 19.52 | 14.78 |
| Total Income | 18.54 | 25.27 | 9.99 | 6.63 |
| Profit After Tax | 3.55 | 5.93 | 1.04 | 0.43 |
| NET Worth | 13.50 | 9.95 | 4.05 | 3.01 |
| Reserves and Surplus | 8.35 | 8.24 | 2.34 | 1.29 |
| Total Borrowing | 16.46 | 14.40 | 12.97 | 9.04 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/Prepayment of Certain Debt Facilities | 4.96 |
| 2 | Working Capital Requirements | 33.05 |
| 3 | General Corporate Purposes | 8.81 |
| KPI | |
|---|---|
| ROE | 84.68% |
| ROCE | 75.58% |
| Debt/Equity | 1.45 |
| RoNW | 59.57% |
| PAT Margin | 23.85% |
| Price to Book Value | 11.74 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.52 | 6.76 |
| P/E (x) | 19.7 | 33.59 |
| Promoter Holding | 95.08% | 69.93% |
| Market Cap | ₹158.80 Cr. |
The Interiors and More IPO is subscribed 11.22 times on February 20, 2024 6:20:00 PM (Day 4). The public issue subscribed 7.41 times in the retail category, 3.54 times in the QIB category, and 30.32 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 3.54 | 3,51,600 | 12,43,800 |
| NII* | 30.32 | 2,64,000 | 80,03,400 |
| Retail | 7.41 | 6,15,600 | 45,62,400 |
| Total | 11.22 | 12,31,200 | 1,38,09,600 |
Total Application : 7,604
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to the Lead Manager | 0.38 |
| 2 | Underwriting Fees | 1.00 |
| 3 | Market Making Fees | 2.10 |
| 4 | Fees payable to Registrar to Issue | 0.03 |
| 5 | Fees to Legal Advisor | 0.02 |
| 6 | Advertisement Expenses | 0.05 |
| 7 | Fees payable to Regulators including Stock Exchange | 0.10 |
| 8 | Printing & Distribution Expenses | 0.01 |
| 9 | Marketing & Selling Expenses | 0.05 |
| 10 | Payment to Sponsor Bank | 0.05 |
| 11 | Statutory & Other Reports | 0.03 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹227.00 |
| Open | ₹270.00 |
| Low | ₹270.00 |
| High | ₹283.50 |
| Last Trade | ₹283.50 |
Lead Manager Reports
Interiors & More IPO is a SME IPO of 18,50,400 equity shares of the face value of ₹10 aggregating up to ₹42 Crores. The issue is priced at ₹227 per share. The minimum order quantity is 600.
The IPO opens on Thu, Feb 15, 2024, and closes on Tue, Feb 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 Thu, Feb 15, 2024 and closes on Tue, Feb 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 Thu, Feb 22, 2024. Check the Interiors & More IPO allotment status.
The Interiors & More IPO listing date is on Fri, Feb 23, 2024.
