Interiors and More IPO Day 2: Check subscription status, GMP and other details

Interiors and More IPO is offering 1,850,400 shares in the IPO, out of which 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.

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The SME IPO raised over ₹11.94 crore from anchor investors on February 14, a day before it opened for subscription.

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.

Interiors and More IPO subscription status

The Interiors and More IPO got a tepid response from investors, received 6,00,000 shares against offered 13,24,200 on the second day of issue, as per data by NSE.

Also read: Esconet Technologies IPO: Issue subscribed 4.4 times so far on day 1; check GMP, other key details of SME IPO

The retail category received 4,36,200 applications against offered 6,15,600 applications. Meanwhile, QIB portion remained unsubscribed and NII category received 1,63,800 shares.

Interiors and More IPO details

Interiors and More IPO price band is set at ₹216 to ₹227 per share. Investors can bid for a minimum of 600 shares and in multiples thereof. 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.

It is a book built issue of ₹42.00 crores. The issue is entirely a fresh issue of 18.5 lakh shares.

The allotment for the Interiors and More IPO is expected to be finalized on Wednesday, February 21, 2024. The SME IPO will list on NSE SME with tentative listing date fixed as Friday, February 23, 2024.

Also read: Polysil Irrigation Systems share price makes a tepid debut, stock lists with 3.7% premium at ₹56 apiece on NSE SME

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.

The promoters of the company being Manish Mohan Tibrewal, Rahul Jhunjhunwala, Ekta Tibrewal, Puja Jhunjhunwala and Reena Jhunjhunwala.

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

Interiors and More IPO GMP today

The shares of Interiors and More IPO are available at a premium of ₹5 in the grey market, which means that the shares of the SME IPO is trading ₹5 higher than the issue price of ₹227, according to www.investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Interiors and More IPO share price is ₹232 apiece, which is 2.2% higher than the IPO price of ₹227.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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Published: 16 Feb 2024, 07:50 PM IST