EFC (I) Limited to Make Strategic Investment in Eleganz Interiors Limited

On May 9, 2024, EFC (I) Limited informed the stock exchanges that the company’s board had approved a strategic investment in Eleganz Interiors Limited by subscribing to the Private Placement Offer.

Details of the Investment

EFC (I) Limited to make a strategic investment of ₹2,00,00,034 for 2,46,914 Equity Shares of ₹10 each at an issue price of ₹81 per share in Eleganz Interiors Limited.

The company stated that the subscription in the equity shares of Eleganz Interiors Limited will be at an arm’s length price based on the valuation report, i.e. at an issue price of ₹81 per equity share. EFC (I) Limited holds 1.49% of the paid-up share capital post-acquisition in Eleganz Interiors Limited.

Eleganz Interiors Limited is involved in the industry of building, design and interior decorators. Regarding the investment objective, EFC (I) Limited stated that Eleganz Interiors Limited leads in providing innovative interior solutions, serving as a key vertical investment in the company’s portfolio. EFC (I) Limited stated that the indicative time period to complete the acquisition is 1 month.

Eleganz Interiors Limited was incorporated on April 18, 1996. The company engages in various activities, including design, interior decoration, labour contracting, sanitation expertise, supervision, surveying, appraisal, planning, and trading in architecture, civil, mechanical, electrical, and surveying fields. They undertake projects like designing, planning, material testing, cost estimation, construction, installation, supervision, and economic appraisal for both public and private sectors in India and abroad. The Authorised Share Capital is ₹21,00,00,000 divided into 2,10,00,000 Equity shares of ₹10 each. The Paid-Up Share Capital is ₹15,36,00,000 divided into 1,53,60,000 Equity shares of ₹10 each.

Eleganz Interiors Limited reported a turnover of ₹1,911.71 crore in FY 2023, ₹1,553.43 crore in FY 2022 and ₹1,457.52 crore in FY 2021.

About EFC (I) Limited

EFC stands for Entrepreneurial Facilitation Centre. EFC (I) Limited is the flagship company of EFC Group of Companies. EFC (I) Limited was previously known as Aamani Trading & Exports Ltd. The company is involved in the business of property management services, real estate services, and renting or leasing services involving owned or leased non-residential property.

On May 10, 2024, the share price of EFC (I) Ltd opened at ₹387.85, touching the day’s high at ₹387.85, as of 10:30 AM on the BSE.

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