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 million public issue for subscription from February 15.
The proceeds from the public issue will be used for repayment – ​​prepayment of certain lines of credit, working capital needs and general corporate purposes. Following the IPOthe company's shares will be listed on NSE Emerge, SME Platform of the National Stock Exchange Limited. Gretex Corporate Services is the main manager of the problem. The public issuance will close on February 20, 2024.
The company has a factory in Valsad district of Gujarat. The initial public offering will comprise up to 18,50,400 equity shares (new issue) with a face value of Rs 10 in the price band of Rs 216 to Rs 227 per share, aggregating up to Rs 42 crore. The minimum lot size for the application is 600 shares, which translates to Rs 1,36,200 per application in the upper price range. Under the IPO, 35% of the shares are allocated to retail investors. The market maker's reserve portion is 5% of the shares.
Incorporated in 2012, Interiors & More Limited was founded by Manish Tibrewal and Rahul Jhunjhunwala. The company has experience in the area of ​​artificial flowers, gift items, decoration for homes, offices and other establishments such as shopping malls, banquets, salons, etc.
For FY 22-23, the company reported a total revenue of Rs 25.27 million and net profit of Rs 5.92 million, while for FY 2021-22, the company reported a total revenue of Rs 9 .98 million and net profit of Rs 1.04 million. As of March 31, 2023, the company's net worth is Rs 9.95 million and total assets are Rs 30.94 million. For the period ending December 31, 2023, the total profit and net profit of Rs. 18.53 million and Rs 3.54 million respectively.