Interiors and More witnessed a strong market debut, opening at Rs 270 per share on the NSE SME platform, marking an 18.9 percent premium over its IPO price of Rs 227 on February 23.
Prior to listing, the stock commanded a 15 percent premium in the grey market, an informal trading ecosystem where shares trade before IPO allotment until listing day. Investors often monitor the grey market premium (GMP) to gauge potential listing prices.
The IPO was oversubscribed 11 times, with the retail segment seeing seven times oversubscription. Open from February 15 to February 20, the IPO raised Rs 42 crore through a fresh issue of 18.5 lakh shares within a price band of Rs 216-227 per share.
The promoters of the company include Manish Mohan Tibrewal, Rahul Jhunjhunwala, Ekta Tibrewal, Puja Jhunjhunwala, and Reena Jhunjhunwala. Gretex Corporate Services acted as the book-running lead manager, with Bigshare Services as the registrar and Gretex Share Broking as the market-maker.
The net proceeds from the fresh issue are intended for debt repayment, working capital, and general corporate purposes. Interiors & More specializes in trading, importing, and selling artificial flowers, plants, and décor items for residential and commercial spaces.
