Eleganz Interiors has fully utilized the proceeds raised through its Initial Public Offer (IPO) for the objects stated in the prospectus dated February 11, 2025, as of September 30, 2025. The company's statutory auditor, M/s. Jayesh Sanghrajka & Co LLP, certified that the funds were deployed without any deviation from the proposed utilization plans. This disclosure was submitted to the National Stock Exchange of India Limited in response to a query regarding the financial results for the half year ended September 30, 2025.

Utilization of IPO Proceeds

The auditor's certificate confirms that the company deployed the funds across four primary categories: repayment of borrowings, working capital requirements, general corporate purpose, and issue-related expenses. The total amount raised was ₹7,806.50 lakh, out of which ₹7,806.32 lakh was utilized by the specified date. The remaining balance of ₹0.18 lakh is unutilized specifically under the head of issue-related expenses.

Financial Breakdown

The following table details the utilization of funds as certified by the statutory auditor:

Regulatory Disclosure

The company addressed the exchange's query dated February 4, 2026, by providing the auditor's certificate that was inadvertently omitted from the initial financial results submission on November 3, 2025. The certification, signed by designated partner Vijaysinh Jadeja, validates that the deployment of funds aligns strictly with the objectives outlined in the offer document. The company confirmed that all statutory requirements regarding the disclosure of fund utilization have now been fulfilled.

Promoters of Eleganz Interiors Limited have declared that they hold 1,56,45,380 equity shares as on March 31, 2026, confirming that no shares were encumbered directly or indirectly during the financial year ended March 31, 2026. The disclosure was submitted to the National Stock Exchange of India Limited pursuant to Regulation 31 (4) & (5) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The declaration was made on behalf of the Promoters, Members of the Promoter group, and Persons Acting in Concert (PAC). The filing provides a detailed breakdown of the shareholding among the promoter group members, highlighting the concentration of ownership within the key promoters.

Sameer Akshay Pakvasa, Managing Director and Promoter, holds the majority of the shares with 1,56,45,379 equity shares. Sonal Akshay Pakvasa holds 1 equity share, while other named individuals and entities within the promoter group, including Akshay Babubhai Pakvasa, Aneesha Shodhan, and various LLPs, hold zero shares as of the specified date.

The list of entities with zero shareholding includes Scavengers Welfare Foundation, Naos Spa & Wellness Private Limited, Krsnaco Build works LLP, Eleganz Realty LLP, and Eleganz Interio LLP. The document notes that Eleganz Interio LLP was struck off as on April 22, 2025.

The total promoter and PAC holding stands at 1,56,45,380 equity shares. The confirmation of no encumbrance on these shares indicates that the promoters have not pledged their holdings during the financial year, which is a key compliance requirement under the takeover regulations.

Shareholding Details

*LLP strike-off as on April 22, 2025