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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 bidding started from February 15, 2024 and ended on February 20, 2024. The allotment for Interiors and More IPO was finalized on Wednesday, February 21, 2024. The shares got listed on NSE SME on 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.
| 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 | 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 offers 1,850,400 shares. 351,600 (19.00%) to QIB, 264,000 (14.27%) to NII, 615,600 (33.27%) to RII and 526,200 (28.44%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 526,200 (28.44%) |
| Market Maker Shares Offered | 93,000 (5.03%) |
| QIB Shares Offered | 351,600 (19.00%) |
| NII (HNI) Shares Offered | 264,000 (14.27%) |
| Retail Shares Offered | 615,600 (33.27%) |
| Total Shares Offered | 1,850,400 (100%) |
Interiors and More IPO raises Rs 11.94 crore from anchor investors. Interiors and More IPO Anchor bid date is February 14, 2024. Interiors and More IPO Anchor Investors list
| Bid Date | February 14, 2024 |
| Shares Offered | 526,200 |
| Anchor Portion Size (In Cr.) | 11.94 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 22, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 21, 2024 |
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 |
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 | |||
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% |
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.
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 | ||||
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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.52 | 6.76 |
| P/E (x) | 19.7 | 33.59 |
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects
[Dilip Davda] 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. Read detail review...
The Interiors and More IPO is subscribed 11.22 times on February 20, 2024 6:20:00 PM. 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) |
|---|---|
| QIB | 3.54 |
| NII | 30.32 |
| Retail | 7.41 |
| Total | 11.22 |
Total Application : 7,604 (7.41 times)
| Listing Date | February 23, 2024 |
| BSE Script Code | |
| NSE Symbol | INM |
| ISIN | INE0OPC01015 |
| Final Issue Price | ₹227 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹227.00 |
| ₹270.00 |
| ₹270.00 |
| ₹283.50 |
| ₹283.50 |
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/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Interiors and More IPO is a SME IPO of 1,850,400 equity shares of the face value of ₹10 aggregating up to ₹42.00 Crores. The issue is priced at ₹216 to ₹227 per share. The minimum order quantity is 600 Shares.
The IPO opens on February 15, 2024, and closes on February 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 and More IPO using UPI as a payment gateway. Zerodha customers can apply in Interiors and More IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Interiors and More IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Interiors and More IPO opens on February 15, 2024 and closes on February 20, 2024.
Interiors and More IPO lot size is 600 Shares, and the minimum amount required is ₹136,200.
You can apply in Interiors and More IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Interiors and More IPO will be done on Wednesday, February 21, 2024, and the allotted shares will be credited to your demat account by Thursday, February 22, 2024. Check the Interiors and More IPO allotment status.
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