Interarch Building Products IPO subscribed 93.00 times

21 Aug 2024 , 04:09 PM

Interarch Building Products Ltd’s initial public offering (IPO) has received considerable demand, mostly from non-institutional investors. The Interarch Building Products IPO has been substantially oversubscribed, and today marks the end of the bidding process.

Interarch Building Products’ initial public offering (IPO) began on Monday, August 19, and will close today, August 21. The IPO allotment is expected to be finalised on August 22, with an IPO listing date of August 26. Interarch Building Products’ equity shares will be listed on the BSE and NSE.

The Interarch Building Products IPO price range is set at 850 to 900 per share. The IPO has 16 shares and requires a minimum investment of ₹14,400 from retail investors.

The company aims to raise 600.29 crore through a book-built issuance, which includes a fresh issue of 22.22 lakh equity shares worth 200 crore and an offer-for-sale component of 44.47 lakh shares worth 400.29 crore.

Interarch Building Products’ IPO has been subscribed to 93.00 times as of Wednesday, the third and final day of the bidding process. According to NSE data as of 4:00 pm, the public issue got bids for 43.64 crore equity shares, compared to the offer of 46.91 lakh shares.

So far, the IPO has been subscribed for 18.27 times by retail investors, 205.41 times by Qualified Institutional Buyers (QIBs), and 128.09 times by Non Institutional Investors (NIIs).

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