Interiors and More is scheduled to hit the market on February 15, 2024 and close on February 20, 2024. Interiors and More plans to raise around ₹42.00 Cr through an IPO with a sale of up to 1,850,400 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%
Established in June 2012, Interiors & More Limited is a company that specializes in the trade, import, and sale of artificial flowers. Based in Gujarat, the company's manufacturing facility is fully equipped with all the necessary tools for production, quality control testing equipment, and supplies for efficient assembly and logistics. With expanding operations to Mumbai and Delhi, the main factory operates from Umbergaon, housing two well-equipped manufacturing units that ensure smooth business operations with computer systems, internet connectivity, communication tools, security measures, and other essential facilities.
Interiors & More Limited offers a diverse range of products, including artificial flowers like Roses, Yellow Marigolds, Green Grass Mats, Leaves, Hydrangea, and Hanging orchids. The company also trades in Fountains, battery-operated Candles, Chandeliers, Wood and Glass vases, artificial trees, Furniture, and Tables. With exhibitions held across India and a permanent staff of 93 employees as of December 31, 2023, the company's main corporate office in Fort, Mumbai manages administrative tasks, reporting requirements, and provides support for factory operations.
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Interiors and More IPO Details
Interiors and More IPO opens on Feb 15, 2024, and closes on Feb 20, 2024. The Listing date for Interiors and More IPO is on Feb 23, 2024. The price band for IPO is ₹216 to ₹227 per share and lot size of 600 Shares.
| IPO Date | Feb 15, 2024 to Feb 20, 2024 |
| Listing Date | Feb 23, 2024 |
| Price | ₹216 to ₹227 per share |
| Lot Size | 600 Shares |
| Issue Size | ₹42.00 Cr |
| Face Value | ₹10 per share |
Interiors and More IPO Tentative Timetable
Interiors and More opening date is February 15, 2024 and close date is February 20, 2024. The IPO allotment date is February 21, 2024. The refund initiation of IPO is on February 22, 2024. The credit of shares in demat account is on February 22, 2024. The listing date is on February 23, 2024.
| Event | Date |
|---|---|
| IPO Opening | Feb 15, 2024 |
| IPO Closing | Feb 20, 2024 |
| IPO Allotment Date | Feb 21, 2024 |
| Refund Initiation | Feb 22, 2024 |
| Shares Credit to Demat | Feb 22, 2024 |
| Lisiting Date | Feb 23, 2024 |
Interiors and More IPO Lot Size
Lot Size of this IPO is 600 shares. A retail-individual investor can apply for up to 1 lots (600 shares or ₹136,200).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 600 | ₹136,200 |
| Retail(Maximum) | 1 | 600 | ₹136,200 |
| HNI (Minimum) | 2 | 1200 | ₹272,400 |
Interiors and More IPO Promoter Holding
| Pre Issue Share Holding | 95.08% |
| Post Issue Share Holding | 69.93% |
Interiors and More IPO Review
Interiors & More Ltd. (IML) is gearing up for its IPO launch, offering 1,850,400 equity shares at a price band of Rs. 216 to Rs. 227 per share. Specializing in the trading of artificial flowers and a wide range of decorative items, IML has witnessed a remarkable surge in its financial performance since FY23. While the company's primary revenue source stems from sales of artificial flowers, plants, and leaves, it has also diversified into other decor categories like vases, wedding props, and lighting fixtures. With a solid track record of serving businesses across various sectors for over a decade, IML sources raw materials both domestically and internationally to maintain product quality and variety.
Despite its promising financial figures over the past few fiscal years, IML's sudden increase in bottom lines has sparked concerns about the sustainability of this growth trend. The management remains optimistic about overcoming potential challenges in the highly competitive and fragmented market segment. However, with an aggressive pricing strategy based on FY24 earnings, investors are advised to exercise caution and conduct thorough due diligence before considering an investment in this IPO. The company's post-IPO plans include utilizing funds for debt repayment, working capital requirements, and general corporate purposes, reflecting a strategic approach towards financial management and growth.
As investors weigh their options, it is essential to factor in the company's average EPS, RONW, PAT margins, and RoCE margins over the reported periods to make an informed decision. With an IPO priced at a P/BV of 8.65 based on its NAV as of December 31, 2023, and a P/E ratio of 33.58 attributed to annualized FY24 earnings, the issue appears aggressively priced. The lack of declared dividends and the absence of listed peers for comparison further add to the complexity of evaluating IML's investment potential. In conclusion, while IML presents an enticing opportunity in the decorative products market, investors must carefully assess the risks and rewards associated with this IPO before making any investment decisions.
Interiors and More IPO Subscription Status (Bidding Details)
Table not foundInteriors and More IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Interiors and More IPO FAQs
What is Interiors and More IPO?
Interiors and More is issuing 1,850,400 equity shares with a face value of ₹10 each, totaling up to ₹42.00 Cr. The shares are being offered at a price of ₹216 to ₹227 each, with a minimum order quantity of 600 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Interiors and More IPO will open?
Interiors and More will open on February 15, 2024 for QIB, NII, and Retail Investors.
When Interiors and More IPO will end?
Interiors and More will end on February 20, 2024.
What is Interiors and More IPO Size?
Interiors and More IPO size is ₹42.00 Cr.
What is Interiors and More IPO Price Band?
Interiors and More price band is ₹216 to ₹227 per share.
What is the Interiors and More IPO Allotment Date?
Interiors and More allotment date is February 21, 2024.
What is the Interiors and More IPO Listing Date?
Interiors and More listing date is February 23, 2024. The IPO is to be listed on BSE and NSE.
How to Interiors and More IPO through Zerodha?
To apply for the IPO “Interiors and More” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Interiors and More IPO through Upstox?
To apply for the IPO “Interiors and More” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Interiors and More IPO Allotment Status?
For Interiors and More IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Interiors and More IPO GMP?
You can check out here: Interiors and More IPO GMP