Interiors and More Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 15, 2024 to February 20, 2024 |
| Listing Date | February 23, 2024 |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 216 to ₹ 227 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 18,50,400 shares (aggregating up to ₹ 42.00 Cr) |
| Fresh Issue | 18,50,400 shares (aggregating up to ₹ 42.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 51,45,000 |
| Share holding post issue | 69,95,400 |
| Market Maker portion | 93,000 shares Gretex Share Broking |
About Interiors and More Limited IPO
Interiors & More Ltd. (IML) is focused 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. Artificial flowers are commonly utilized in weddings, celebrations, corporate settings, and home decor. The company has been serving businesses of all sizes for over a decade. Following its success with artificial flowers, the company expanded into decorative items such as vases, plants, planters, wedding props, lights, furniture, fabric, chandeliers, candles, fragrance, and other related décor items. As of today, it is a manufacturer and trader of quality artificial flowers, plants, and other home and office décor items.
The company sources raw materials from both domestic and foreign markets. 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 price band is set at ₹216 to ₹227 per share. The minimum lot size for an application is 600 Shares. 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.
Objectives of Interiors and More IPO
The company intends to utilize the Net Fresh Issue Proceeds for the following Objectives:
- ● Repayment/Prepayment of Certain Debt Facilities.
- ● Working Capital Requirements.
- ● General Corporate Purposes.
Interiors and More IPO Review
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.
Interiors and More Limited IPO Financial Information
Latest Revenue
1,853.78
₹ Crore
Profit After Tax
354.57
₹ Crore
Net Worth
1,349.78
₹ Crore
Total Borrowing
1,645.86
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2023 | 3,722.59 | 1,853.78 | 354.57 | 1,349.78 | 1,645.86 | ||||
| 31 Mar 2023 | 3,094.63 | 2,527.17 | 592.84 | 995.21 | 1,439.77 | ||||
| 31 Mar 2022 | 1,952.13 | 998.53 | 104.44 | 405.07 | 1,297.33 | ||||
| 31 Mar 2021 | 1,478.30 | 663.10 | 43.33 | 300.63 | 904.02 | ||||
| Amount in ₹ Crore | |||||||||
Interiors and More Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 84.68% |
| ROCE | 75.58% |
| Debt/Equity | 1.45 |
| RoNW | 59.57% |
| P/BV | 11.74 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.52 | 6.76 |
| P/E (x) | 19.7 | 33.59 |
Frequently Asked Questions
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Competitive Strengths
Interiors and More Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹136,200 |
| Retail (Max) | 1 | 600 | ₹136,200 |
| HNI (Min) | 2 | 1,200 | ₹272,400 |