Interiors and More was incorporated on 9 February 2024. The company focuses on trading artificial flowers, importing them and selling them domestically. An artificial flower resembles a real flower but is non-perishable in nature, hence it is commonly utilized in Indian marketplaces.
| Bidding Dates |
|---|
| 15 Feb 2024 - 20 Feb 2024 |
| Subscription |
|---|
| 10.75x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,29,600 | 1 | 1 | 600 | 1.9 M | ₹216 - ₹227 | 69.93 % | ₹399.7 M - ₹420.0 M | RHP DOC |
Interiors & More IPO SUBSCRIPTION STATUS
20 Feb '24Interiors & More IPO overall subscription rate was 10.75 times the total available shares
Interiors & More IPO retail subscription rate was 10.52 times in the retail segment
Interiors & More IPO non-institutional investor subscription rate was 40.84 times in the non-institutional investor category
Interiors & More IPO Qualified Institutional Bidder subscription rate was 1.88 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
20 Feb 2024 (Day 4) | 10.52x | 40.84x | 1.88x |
19 Feb 2024 (Day 3) | 1.79x | 1.38x | 0x |
16 Feb 2024 (Day 2) | 0.94x | 0.82x | 0x |
15 Feb 2024 (Day 1) | 0.48x | 0.11x | 0x |
Interiors & More FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 35.5 | 184.3 | 1.6 | -7.7 | 33.7% |
| FY23 | 59.3 | 248.6 | 9.6 | -0.5 | 38.1% |
| FY22 | 10.4 | 98.9 | -9.5 | -24.2 | 26.3% |
| FY21 | 4.3 | 64.3 | -63.3 | -65.8 | 16.5% |
Interiors & More IPO SUBSCRIPTION STATUS DETAILS
Interiors & More had 1.9 M shares on offer
Interiors & More IPO offer price was in the range ₹216 - ₹227
Interiors & More IPO minimum Investment was ₹129600
Interiors & More IPO issue size was ₹ 399.7 M - ₹ 420.0 M
Interiors & More had a minimum lot size of 600 Shares per application
Interiors & More NUMBER OF SHARES ON OFFER
Interiors & More IPO IMPORTANT DATES
| Issue Open Date | 15 Feb 2024 |
| Issue close Date | 20 Feb 2024 |
| Allotment Date | 21 Feb 2024 |
| Refund Date | 22 Feb 2024 |
| Demat Account Credit Date | 22 Feb 2024 |
| Listing Date | 23 Feb 2024 |
| Listing on Exchange(s) | NSE |
| Interiors & More Allotment Status | Exchange |
Interiors & More IPO subscription opened on 15 Feb 2024, and closed on 20 Feb 2024
IPO allotment for Interiors & More was finalized on Wednesday, 21 Feb 2024
IPO listing for Interiors & More was on NSE on Friday, 23 Feb 2024
Interiors & More IPO LISTING GAINS
| Issue Price (adjusted) | 113.5 |
| Listing Open Price | 270.0 |
| Listing Close Price | 283.5 |
| Listing Gain% | 18.9% |
| Current Gain% | 46.3% |
Interiors & More Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interiors & More Ltd. | 166 | 116.1 | 17.2 | -0.4 | 1.4 | 16.9 | 8.9 | 84.5 | 42.8 | 13.5 | 13.1 | 9.7 | -43.5 |
| Carysil Ltd. | 1183.9 | 3367.3 | 34.3 | 0.6 | 3.6 | 16.1 | 9.4 | 937.1 | 13.5 | 98.2 | 54 | 34.5 | 53.3 |
| Eveready Industries India Ltd. | 356.8 | 2593.5 | 14.5 | 0.1 | 1.7 | 27.5 | 14.1 | 1459.1 | 8.4 | 171.5 | 108 | 24.5 | 114 |
| Hardwyn India Ltd. | 11.3 | 770 | 58.3 | 3.3 | 3.9 | 3.2 | 2.8 | 200.4 | 8.1 | 13.2 | 17.6 | 0.2 | 17.6 |
| Indo National Ltd. | 327.1 | 245.3 | -9.3 | 0.1 | 0.5 | -8.7 | -6.1 | 460.1 | -30 | -26.3 | -121.3 | -35.1 | -121.3 |
| Sonam Ltd. | 54.4 | 217.9 | 24.2 | 0.6 | 1.1 | 12.4 | 6.4 | 171.7 | 62.8 | 7.3 | 15.6 | 2.2 | 38.9 |
Interiors & More INFORMATION ON IPO ISSUE
About Interiors & More
Interiors and More was incorporated on 9 February 2024. The company focuses on trading artificial flowers, importing them and selling them domestically. An artificial flower resembles a real flower but is non-perishable in nature, hence it is commonly utilized in Indian marketplaces.
Object of the Issue
- Repayment/prepayment of certain debt facilities
- Working capital requirements
- General corporate purposes
Interiors & More - PROMOTERS
| Name |
|---|
| Manish Mohan Tibrewal |
| Rahul Jhunjhunwala |
| Ekta Tibrewal |
| Puja Jhunjhunwala |
| Reena Jhunjhunwala |
Interiors & More Lead Manager
Gretex Corporate Services Limited
info@gretexgroup.com
Interiors & More Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Interiors & More Strengths
Organizational stability
The firm has served companies of all sizes for more than ten years, demonstrating the company's resilience to business and economic cycles
Product portfolio
The company has a wide product portfolio and meets customer demand by manufacturing items according to specifications and needs. It produces and sells artificial flowers, plants, wedding props, and other decorative items including lights, furniture, fabric, chandeliers, etc
Well-developed distribution network
To broaden the scope of identifying its core customer base and establishing appropriate marketing strategies for procurement and project liaising to deliver tailored solutions for clients, the company has created and executed a wide range of networking channels throughout the industry and society
Interiors & More Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, its promoters, and directors. Any adverse decision in such proceedings may have a material adverse effect on the business, results of operations, and financial condition
Geographical concentration
The major portion of the company's revenue for 9MFY24 and FY23 comes from the city of Mumbai, i.e., 88.3% and 68.1% respectively of total revenue. Too much geographical concentration of the business in one location can impact the business
Faces competition
The company faces competition in the business from domestic competitors. Such competition could have an adverse impact on the business and financial performance
IPO FAQs
Interiors & More Ltd. IPO listing opened at Rs 270.00 while the issue price was Rs 227.00 giving 18.94% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 113.50 giving 46.26% gains since its IPO listing.
The promoters of the company are Manish Mohan Tibrewal, Rahul Jhunjhunwala, Ekta Tibrewal, Puja Jhunjhunwala and Reena Jhunjhunwala.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 216.0 - 227.0.
The IPO application opens on Feb 15, 2024 and closes on Feb 20, 2024.
The minimum lot size for the IPO is 600. The maximum lot size for the IPO is 600.
For all category investors, the minimum application amount for this IPO is Rs. 129,600.0, the maximum value for this IPO is Rs 136,200.0.
This IPO will be allotted on Feb 21, 2024.
The refund will be credited to your account on Feb 22, 2024.
The allotted shares will be credited to your demat on Feb 22, 2024.
Interiors & More Ltd.’s shares listed on the stock exchanges on Feb 23, 2024.