• Fresh Issue Size: A Fresh issue size of 64,05,000 equity shares with a face value of Rs. 10 is being offered.

• Price Range: The bidding is priced between Rs.123 - 130 per share.
• Issue Type: It is 100% Book Built issue.
• Subscription date: The issue period begins from February 7th 2025 and ends on February 11th 2025.
• Lot size: It is providing a lot size of 1000 
• Listing Date: The IPO is going to be listed on 14th February 2025.
• Stock Exchange: The exchange is going to be the SME platform of NSE.

The company with the help of this IPO seeks to utilize the net proceeds towards repayment of its debts, meeting working capital requirement and implement  general corporate developments.

The table below (in lakhs) stipulates the restated Financial Information of the company over the last 3 fiscal years and up-till September 30, 2024.

India is experiencing drastic development in the infrastructure sector with the commercial estate and the private real estate market constantly growing.

There are many commercial spaces being constructed and urbanization being undertaken by private and government parties due to the rapid increase of IT, e-commerce, retail and BFSI sectors, urbanization etc and these newly constructed spaces require a final touch up with customized interiors and well planned spaces, electrical installations, furniture designs and colors etc as per modern requirements. 

There has been rising demands from newly constructed commercial offices with respect to implementation of these interior designs and fit outs and this demand is expected to increase due to the expansion of many big IT companies, new start-ups and increasing office leasing activity in India.

The Indian commercial real estate market between 2017 and 2023 grew from Rs 7,665 billion to Rs 40,089 billion. and is anticipated to grow at a 15.7% CAGR to reach Rs 83,172 billion by 2030.

• The company offers design and build services and general contract services with respect to all kinds of interior based work and provides quality assurance services involved with skilled craftsmanship, quality materials under utmost supervision, safety, and adherence to protocol and timely project delivery.

• The company in the last three years has completed 200 projects and has currently 47 ongoing projects across 12 states in India with a value of Rs.43,486.33 lakh. 
• The company is also a platinum and gold “LEED” certified company that is eligible to procure green and sustainable projects.
• The company has shown promising returns for the last three years increasing its profit after tax from Rs. 509.38 Lakh in 2022 to Rs. 1,220.58 lakh in 2024 and Rs. 953.47 lakh as of 30th September 2024.

• The company’s significant revenue is generated from its repeated and limited number of clients. Any failure to retain these repeated clients or maintain the relationships with these clients may adversely affect the business operations and financial conditions of the company.

• The company is majorly dependent on its skilled and unskilled laborer to complete its projects, failure to retain these laborers or any kind of disruption from the laborers could adversely affect the project completion leading to loss of finances and business operation.
• The company is dependent on third party for transport, logistics and certain manufacturing activities, failure on timely deliveries or production by these third party services may also affect the business operations.
• The company is heavily dependant on third party suppliers for delivery of its finished products for installation at project site and raw materials for manufacturing furniture items, any failure on part of these third party supplier may adversely affect the business operations and financial conditions.
• The company has certain outstanding unsecured loans and failure to repay these loans may also effect the business operations and financial conditions of the company.

With the rapid increase of construction in India both in commercial and private sector with the rising demand of office spaces due to the expansion of big corporations and start-ups.

The demand for interior designing and construction will constantly remain high. The company has established a relationship with its customers by completing 200 projects across different states in India and generated healthy income over the last three fiscal years increasing its profit after tax from Rs. 509.38 Lakh in 2022 to Rs. 1,220.58 lakh in 2024 and Rs. 953.47 lakh as of 30th September 2024.

Potential investors should outline the risks given in the RHP prospectus before investing

The company with the help of this Initial Public Offering (IPO) aims to raise capital to repay its debts and implement strategic business developments.

The commercial real estate has a strong growth potential due to the rapid globalization taking place in India. Prospective investors should also go through the risks given in the RHP prospectus before investing.