New Delhi, Feb. 7 -- The IPO of Eleganz Interiors, which opened for bidding today, February 07, saw healthy investor interest, with the issue being subscribed to 0.56 times as of 01:00 p.m., according to exchange data.

The retail investor segment was subscribed 0.94 times, while the non-institutional investor (NII) category received a 0.44 times subscription. Meanwhile, the qualified institutional buyer (QIB) segment did not receive any bids on Day 1 so far.

The company plans to utilize the gross proceeds from the issue for multiple strategic objectives. A portion of the funds will be allocated toward the full or partial repayment of certain borrowings to strengthen its financial position.

Additionally, the proceeds will be used to mee...