Interiors and More IPO is a book built issue of Rs 42.00 crores. The issue is entirely a fresh issue of 18.5 lakh shares.
Interiors and More IPO opens for subscription on February 15, 2024 and closes on February 20, 2024. The allotment for the Interiors and More IPO is expected to be finalized on Wednesday, February 21, 2024. Interiors and More IPO will list on NSE SME with tentative listing date fixed as Friday, February 23, 2024.
Interiors and More IPO price band is set at ₹216 to ₹227 per share. The minimum lot size for an application is 600 Shares. The minimum amount of investment required by retail investors is ₹136,200. The minimum lot size investment for HNI is 2 lots (1,200 shares) amounting to ₹272,400.
Gretex Corporate Services Limited is the book running lead manager of the Interiors and More IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Interiors and More IPO is Gretex Share Broking.
Refer to Interiors and More IPO RHP for detailed information.
Interiors and More IPO Details
| IPO Date | February 15, 2024 to February 20, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹216 to ₹227 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 1,850,400 shares (aggregating up to ₹42.00 Cr) |
| Fresh Issue | 1,850,400 shares (aggregating up to ₹42.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,145,000 |
| Share holding post issue | 6,995,400 |
| Market Maker portion | 93,000 shares Gretex Share Broking |
Interiors and More IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Interiors and More IPO Timeline (Tentative Schedule)
Interiors and More IPO opens on February 15, 2024, and closes on February 20, 2024.
| IPO Open Date | Thursday, February 15, 2024 |
| IPO Close Date | Tuesday, February 20, 2024 |
| Basis of Allotment | Wednesday, February 21, 2024 |
| Initiation of Refunds | Thursday, February 22, 2024 |
| Credit of Shares to Demat | Thursday, February 22, 2024 |
| Listing Date | Friday, February 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 20, 2024 |
Interiors and More IPO Lot Size
Investors can bid for a minimum of 600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹136,200 |
| Retail (Max) | 1 | 600 | ₹136,200 |
| HNI (Min) | 2 | 1,200 | ₹272,400 |
| Lot Size Calculator | |||
Interiors and More IPO Promoter Holding
The promoters of the company being Mr. Manish Mohan Tibrewal, Mr. Rahul Jhunjhunwala, Ms. Ekta Tibrewal, Ms. Puja Jhunjhunwala and Ms. Reena Jhunjhunwala
| Share Holding Pre Issue | 95.08% |
| Share Holding Post Issue | 69.93% |
About Interiors and More Limited
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 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 our business operations to function smoothly.
The company offers a wide range of products including artificial flowers such as Rose, Yellow Marigold, 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.
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, as well as factory support.
Interiors and More Limited Financial Information (Restated)
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 |
| Revenue | 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 | ||||
Key Performance Indicator
The market capitalization of Interiors and More IPO is Rs 158.8 Cr.
| KPI | Values |
|---|---|
| ROE | 84.68% |
| ROCE | 75.58% |
| Debt/Equity | 1.45 |
| RoNW | 59.57% |
| P/BV | 11.74 |
Check Interiors and More IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.52 | 6.76 |
| P/E (x) | 19.7 | 33.59 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2023 that is available in RHP.
Objects of the Issue (Interiors and More IPO Objectives)
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects
- Repayment/Prepayment of Certain Debt Facilities
- Working Capital Requirements
- General Corporate Purposes.
Interiors and More Limited Contact Details
Interiors and More Limited
Office No.7, Ground Floor, Kumtha Street,
off Shahid Bhagat Singh Road-Ballard Estate,
Fort Mumbai G.P.O. Mumbai – 400001
Phone: 022-47499811
Email: info@inm.net.in
Website: http://www.inm.net.in/
Interiors and More IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html